Is it a Good Time to Buy Altcoins as Bitcoin Dips? Crypto Analysts Predict an Impending Boom

Bitcoin’s recent decline from its peak on January 11th has sparked speculation among analysts about a potential market cap rally in the near future. Renowned crypto expert Michaël van de Poppe believes that altcoins will take the lead and outperform Bitcoin as it consolidates.

Van de Poppe’s analysis centers around the TOTAL chart, which measures the collective market capitalization of all cryptocurrencies. He predicts that the market cap could surge to an impressive $2.1 trillion, representing a potential increase of nearly 33%. This would be driven by altcoins, rather than Bitcoin.

While Bitcoin takes a break, van de Poppe also examines the Bitcoin dominance (BTC.D) chart, which indicates a historical cycle repeating itself. Similar patterns were observed in 2016 and 2020, coinciding with Bitcoin halving events. Van de Poppe envisions a scenario where altcoins shine and outperform Bitcoin during its consolidation phase.

In terms of strategy, van de Poppe suggests that there may be further dips before a rebound. He personally sees the $36,000 to $40,000 range as an opportune zone for accumulating more Bitcoin and strengthening positions.

As Bitcoin enters its consolidation phase, attention shifts to altcoins as they gear up for potential surges and noteworthy actions in the broader market. Currently, Bitcoin is trading at $40,803, with daily losses of less than 1.91% and a weekly decline of over 3.4%.

Overall, analysts and investors are closely monitoring these developments, with van de Poppe providing valuable insights into the current market situation.