As the price of Bitcoin (BTC) continues to demonstrate a large drop in valuation, indicating a gloomy attitude towards the crypto asset, bulls in the market are hopeful that the market will soon enter another Season for Altcoins.
Altcoins Showing Huge Buying Opportunity
Bitcoin’s recent crash signaled the beginning of the decline in the cryptocurrency market, causing several altcoins drop significantly. However, many cryptocurrency analysts believe that the falling prices of these altcoins could serve as an opportunity for future gains as the alt season is on the horizon.
Popular cryptocurrency expert and trader Michael Van De Poppe has revealed its optimism in the altcoin market, highlighting the significant opportunities to enter these tokens before the start of the alt season.
According to Michael Van De Poppe, “some altcoins are down more than 40%” compared to their all-time highs. With this, Poppe believes that this is the right time for investors to acquire these digital assets and position themselves for future gains.
Poppe noted that he typically invests in these tokens “during bull cycles when they are about 25% to 60% cheaper.” This demonstrates the crypto expert’s confidence in the asset’s recovery in the coming months.
When pointing out the enormous opportunities in the market, Poppe highlighted. Arbitration (ARB) as one of the altcoin investors to watch out for. He believes ARB could make substantial gains over time as the token is bearish and ready for a new bull run.
![Altcoins Show Buy Signals, Massive Opportunities Beckon: Analyst 1 Altcoins](https://thegurumedia.com/wp-content/uploads/2024/03/Michael-Van-De-Poppe-Arbitrum-chart.png)
Recently, there have been notable advances in the price of the crypto asset, demonstrating momentum for an upward movement. At the time of writing, ARB is trading at $1.70, indicating an increase of over 10% on the daily time frame.
However, on a weekly and monthly basis, ARB fell by 22% and 15%, respectively. Meanwhile, Arbitrum’s market capitalization increased by about 10%, surpassing the $4.5 billion threshold.
Top ALTs to Buy After Bitcoin Pullback
The Santiment on-chain analytics platform also highlighted the drop in altcoins as a chance to make profits in the coming months. Santiment pointed out several altcoins that offer a “potential bullish opportunity,” following Bitcoin crash today to a two-week low of $61,700.
Some of the tokens listed by Santiment are BOUNCE, LDO, OMG, STORJ and SNX. The MVRV model of opportunities and danger zones, according to Santiment, shows that many altcoins have declined to the point where medium-term trading returns are in an “opportunity zone.” However, when an asset’s 30-, 90-, and 365-day average portfolio returns are negative, “this zone has been breached.”
Even with the recent general correction, the altcoin market appears to be heading towards a favorable long-term picture. Consequently, this represents an excellent opportunity for investors to acquire these digital assets at a reduced cost.
Featured image from Shutterstock, chart from Tradingview.com
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