According to crypto analyst Michaël van de Poppe, the upcoming Bitcoin halving on April 19 may cause a change in focus. After this event, he believes that the spotlight could move away from Bitcoin.
A Narrative Shift To Occur Post-Halving
Van de Poppe hinted in a recent X post that narratives surrounding the crypto market will shift as the halving event draws near, without revealing exactly what the new storyline would be. Yet, in an earlier X post, this crypto expert shared his perspectives on the future of the market, disclosing some clues about the anticipated new narrative.
Based on Van de Poppe’s perspective, the focus is expected to move towards Ethereum (ETH) and initiatives centered around Decentralized Physical Infrastructure Networks (DePIN) and Real World Assets (RWA). These areas, together with Artificial Intelligence (AI) and meme coins, have been forecasted as prominent themes during this bull market.
The crypto expert, who has consistently maintained that altcoins are underpriced, believes they will rebound against Bitcoin following the hype surrounding the halving event. Additionally, Van de Poppe anticipates that altcoins will exhibit bullish behavior from the second quarter through summer, followed by a correction in the third quarter of this year.
Previously, a crypto expert named ten potential altcoins he anticipates will experience significant price increases once the altcoin market experiences a full-blown surge. The following tokens are on his list: Chainlink (LINK), Celestia (TIA), Arbitrum (ARB), Polkadot (DOT), Cosmos (ATOM), DYDX (DYDX), WooNetwork (WOO), Sei (SEI), Skale Network (SKL), and Covalent (CQT).
Expectations For Bitcoin
Van de Poppe believes Bitcoin will have a short-term rebound up to $70,000. But, he’s not overly optimistic about its future in the long term. Instead, he anticipates a prolonged phase of price stability that he thinks won’t shift significantly within the next few months.
In a previous Bitcoin-related post, he expressed that the market situation was stagnant, with Bitcoin’s momentum taking a backseat. He further anticipated that Bitcoin would undergo a pullback and a period of price stabilization. On the other hand, altcoins were predicted to rise against Bitcoin during this timeframe.
During the predicted consolidation phase following a Bitcoin halving event, some crypto experts believe we’re entering the re-accumulation stage. Rekt Capital described this period back then as a time when many investors may feel frustrated or restless due to minimal returns on their Bitcoin investment right after the halving. Some may even sell out of disappointment or boredom with the lack of significant price movements.
After the current stage ends, Bitcoin typically undergoes a “sharp upward trend,” as described by Rekt Capital, which historically lasts for about a year. Importantly, the majority of Bitcoin’s price increases tend to occur within six months to a year following the Bitcoin halving event.
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2024-04-19 18:04