- Michaël van de Poppe urges patience with altcoins, citing a slower-developing market cycle compared to previous ones.
- Trader Merlijn identifies a completed cup and handle pattern in altcoin charts, often a signal of an imminent breakout.
- A potential $2 trillion surge in altcoin market cap is predicted based on this bullish technical formation.
Two well-known cryptocurrency analysts, Merlijn The Trader and Michaël van de Poppe, recently shared their views on the current state of the altcoin market. Their posts come at a time when many traders and investors are looking for clear signs of where the crypto market might head next.
Altcoin Cup and Handle Pattern Confirmed by Merlijn The Trader
Merlijn The Trader pointed out that a classic technical analysis pattern, called the “cup and handle,” has just completed on the altcoin market chart. This pattern is often considered one of the most bullish and explosive in trading.
In his post, Merlijn said that the altcoin market has already broken out of the “handle” part of the pattern and successfully retested the breakout zone, which he sees as a very positive sign. He suggested that a strong upward move, or a parabolic run, could be on the way.
Source: X @
The chart he shared shows a rounded bottom forming the “cup” between 2022 and early 2024, followed by a smaller dip forming the “handle.” According to the chart, the altcoin market is now pushing higher, and Merlijn believes a move toward a $2 trillion total market cap for altcoins is possible. He stated he is currently buying more altcoins in anticipation of this potential growth.
Van de Poppe: Altcoin Cycle Slower but Possibly More Rewarding
Meanwhile, Michaël van de Poppe shared a slightly different perspective. He admitted that the current altcoin market isn’t the strongest it has ever been. He reminded his followers that four years ago, the market had already passed the first major peak for Bitcoin, and most of the profits at that time (around 95%) had already gone into altcoins.
In contrast, he said the current cycle is behaving differently. According to van de Poppe, the current altcoins cycle is moving slower and is expected to last much longer than the previous one. Because of that, he believes it is important for investors to stay patient and hold onto their altcoin positions, even if the market seems quiet right now.
These analysts believe that although this market does not feel like it’s about to explode, a big move in the altcoin sector could be taking shape.
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