The post Bitcoin Bull Cycle Kicks Off After Accumulation Phase, Says Analyst appeared first on Coinpedia Fintech News

According to the founder of MN Trading Michaël van de Poppe, Bitcoin has concluded its year-long accumulation period and entered the first phase of a fresh bull cycle.

In a recent tweet,  michael van de poppe Eight Global is led by Michael van de Poppe, the company’s founder, and CEO. He is a cryptocurrency trader who works at the Amsterdam Stock Exchange and is enthusiastic about the role of blockchain in the current financial system.  Also, he is an author at Cointelegraph who covers everything about fintech, blockchain, and bitcoin, providing the latest news, prices, and analysis on the future of money. 

In the past, he served as a technical analyst at TradingView, where he was responsible for making technical analyses via the platform of TradingView and distributing these through virtual social media, including Twitter and YouTube. He was the writer of CryptoBenelux, writing articles based on technical analysis and market insights, particularly about Bitcoin.

tweeted that the crypto bear market ended in November 2022. The ensuing “accumulation year” saw Bitcoin bottom out and build a base, setting the stage for upward momentum. Now, with BTC breaking $30,000, the first year of a new bull run is beginning.

#Bitcoin has ended the accumulation phase and enters the first part of the bull cycle

This is the first year of the bull cycle, as it’s quite clear that we’ve finished the bear market.

Altcoins are heating up and Bitcoin has broken through the $30,000 barrier. What’s next?… pic.twitter.com/uPgJG9Mg3o

— Michaël van de Poppe (@CryptoMichNL) November 8, 2023

Van de Poppe says these market cycles last for four years

These market cycles typically last about four years in crypto, van de Poppe noted. The bear phase (red) is followed by a year of accumulation (green), then two years of a bull run. Bull phase one (purple) involves slower gains as Bitcoin grinds higher but doesn’t exceed its former all-time high. Phase two (green) brings parabolic rallies and “mania.”

According to the analyst, altcoins are poised to benefit most during bull phase one. He expects many major altcoins to rise 5-10x in bitcoin org

Event OrganiserTechnologyPayment solution  pairings as traders rotate out of the benchmark crypto. Previous bull runs saw certain sectors heat up, like DeFi tokens during the 2017-18 mania.

Van de Poppe urged traders to open altcoin positions before the rotation accelerates. Once Bitcoin’s dominance starts falling more rapidly, these trades will become far more profitable. “As you can see, the purple bull phase 1 stage is where the altcoins are starting to flourish as the BTC pair starts to drop substantially,” he tweeted.

In effect, Bitcoin is now in the ideal zone for altcoins—not stuck in a brutal bear trend but also not seeing vertical parabolic gains that draw all market attention. With BTC rangebound between $20,000 and $30,000, traders can reap major gains by targeting the top-performing altcoins.

Of course, picking winners in the volatile crypto industry remains challenging. Van de Poppe advised choosing carefully and diversifying across assets with strong fundamentals and development. Rotating into altcoins too early or holding through bull phase two could result in losing Bitcoin value.

But for investors who timed the transition well and can identify rising stars, the next year presents an opportunity to multiply returns. Now that Bitcoin has apparently completed its accumulation, the first leg of the bull run could produce huge profits for savvy altcoin traders.