Post Bitcoin (BTC) Halving: Is the Bull Run Done Already? What’s Next for Altcoins? Here’s What Indicators Are Saying
The recent Bitcoin (BTC) halving event, which occurred on April 19, was widely anticipated to be a bullish catalyst for the cryptocurrency markets. However, the aftermath has seen BTC printing a series of red candles, leading many to question whether the bull market is already over. In this article, we explore the perspectives of two prominent analysts on what the future may hold for Bitcoin and altcoins.
What you'll learn 👉
The Healthy Correction Narrative
According to the X account @StockmoneyL, representing the “Stockmoney Lizards” analysis group, the current downtrend in Bitcoin should be viewed as a necessary and healthy correction. Despite the price decline, several key indicators suggest the overarching bull market remains intact.
“The short answer at the beginning: no, we are not at the end of the bull market. We believe what we see is a correction which could send us back to the 50ks,” the analysts state.
Supportive Metrics and Levels to Watch
The group cites the 1-year simple moving average as evidence that Bitcoin is still in a “very, very green zone,” indicating a bullish trend. Additionally, they identify several support levels that could potentially halt the correction, including $60,000, $56,000, and a crucial zone around $52,000, which coincides with the 61.8% Fibonacci retracement level and significant liquidity.
While acknowledging the possibility of a deeper pullback, the analysts remain confident that the current cycle will culminate in Bitcoin reaching prices above $200,000 by Q3/Q4 2025, driven by mass adoption and institutional involvement.
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Show more +The Altcoin Perspective
Michael van de Poppe (@CryptoMichNL), a well-known cryptocurrency analyst and trader, offers a different narrative, focusing on the potential for altcoin resurgence in the aftermath of the Bitcoin halving.
Van de Poppe argues that while Bitcoin’s price may have been stagnant in USD terms, when viewed through the lens of BTC valuations, altcoins have experienced a significant 60% drawdown over the past three months. This, he believes, presents a compelling opportunity for investors.
“If your narrative is based on BTC valuations, then you can automatically conclude that we’re still in the longest bear market for altcoins,” van de Poppe states, citing examples like Chainlink and Ethereum, which have been in multi-year bear markets against Bitcoin.
Shifting Spotlight and Cycle Dynamics
With the spotlight shifting away from the Bitcoin Spot ETF and halving events, van de Poppe predicts a renewed interest in altcoins, particularly as Ethereum breaks through the 0.05 BTC resistance level.
Moreover, he suggests that the current cycle may last longer than previous ones, driven by increased liquidity requirements and the tendency for both bear and bull markets to extend in duration over time.
“Narratives are getting larger, so a heavier impact is on the horizon,” van de Poppe explains, recommending investors accumulate discounted altcoins, especially as Ethereum is poised for a positive month in May.
These perspectives offer insights into the potential trajectories of Bitcoin and altcoins, reminding investors to consider multiple narratives and indicators when making investment decisions.
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