Altcoins – alternative digital assets beyond Bitcoin – often take center stage during bull market cycles. According to top crypto analysts Mikybull Crypto and Mags, the current market conditions point toward an imminent altcoin rally.
Drawing parallels with the 2020-2021 cycle, Mikybull Crypto highlights the uncanny similarity in the altcoin pullback levels. “Altcoins are looking prime for an explosive rally after the recent correction,” he states, noting the Fibonacci retracement of 0.618 witnessed in both periods. Furthermore, the analyst emphasizes that the altcoin market capitalization is closely mirroring the 2020-2021 price action, albeit with a different timing.
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The Four Phases Unveiled
Mags, a crypto influencer and analyst, breaks down the four distinct phases that characterize an altcoin bull market:
- Accumulation Phase
This phase marks the bottom of a prolonged bear market. Prices consolidate, and the downtrend eventually breaks, signaling a potential reversal.
- First Leg Up
During this stage, prices begin surging upwards. However, many retail investors remain skeptical, missing out on the initial trend change.
- Chop Phase
After the first leg up, prices often enter a choppy, sideways phase. This period is also referred to as the re-accumulation phase following the Bitcoin halving event.
- Up Only Phase
“This is where most of the money is made in a very short period of time,” Mags emphasizes. Bitcoin, altcoins, and even meme coins experience parabolic rallies, attracting mainstream attention and an influx of new capital. Consequently, smart money and early buyers begin unloading their holdings as retail investors frantically chase the uptrend, believing it will continue indefinitely.
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Show more +Patience is Key
Significantly, both analysts stress the importance of patience during the first three phases. While these initial stages may seem slow and uneventful, positioning oneself early is crucial for capitalizing on the eventual upswing. “Impatient individuals who chase after red and green candles are likely to get caught out during the first three phases,” warns Mags.
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