Altcoin Season 2024: Expert Predicts Massive Crypto Bull Run in Q1

According to Michael van de Poppe, a leading figure in cryptocurrency analysis, a shift in the crypto market is on the horizon. In a recent social media update, he hinted at a potential surge in the value of Ethereum and other altcoins as early as the first quarter of next year. This prediction is based on his in-depth evaluation of market patterns and capital flows within the crypto economy.

When Can Traders Expect Altcoin Season?

Van de Poppe’s insights are drawn from his analysis of a critical market indicator—the Bitcoin dominance chart. This tool measures Bitcoin’s market share relative to the combined value of all cryptocurrencies. The chart, dating from 2018 and extending projections to 2026, reveals periods where Bitcoin’s market control has seen significant shifts. Bitcoin’s dominance is 53.61%, a figure under scrutiny for potential change.

Although Ethereum, the second-largest cryptocurrency by market capitalization, has not yet shown significant momentum, van de Poppe believes this is about to change. His chart review suggests that we are at the brink of a trend where capital transfers from Bitcoin to Ethereum, historically indicating a boost for altcoins.

Altcoins Rising

Supporting his projection, van de Poppe points to the nascent strength in the altcoin sector. Even without Ethereum’s lead, altcoins have been outperforming expectations, with NEAR Protocol surging by 15% and Avalanche and Solana making an 8% jump in just 24 hours. This gain in momentum across the board for altcoins bolsters the anticipation of a sustained surge in their value, in line with Bitcoin’s predicted peak in dominance.

In any case, broader economic factors often influence the crypto market. For instance, Bitcoin’s recovery from a slump to $40,000, climbing to about $43,000, suggests a broader positive sentiment. Analysts believe a breakthrough above $45,000 would likely be driven by unexpected favorable news or a spike in the equity markets. Similarly, a drop below $41,000 could signal a buying opportunity, barring any adverse news or a downturn in traditional financial markets.