Popular crypto analysts Moustache (@el_crypto_prof) and Michaël van de Poppe (@CryptoMichNL) have recently highlighted bullish signals that could indicate an upcoming “altcoin season,” where altcoins begin to outperform bitcoin.
Moustache pointed out that the altcoin bull market has already started, but many people don’t realize it yet. He referenced several technical indicators that have turned bullish for altcoins, including bullish crosses for the True Strength Index (TSI) and Gooner Exponential Moving Average (EMA), as well as a buy signal from the Supertrend indicator.
Moustache added that a similar thing happened in 2020 with these indicators turning bullish just before the major altcoin bull market took off. However, very few people noticed the signals at that time.
In a separate tweet, Michaël van de Poppe noted that bitcoin dominance tends to peak a few months before the bitcoin halvings, which occur every four years. He stated that this pattern of peaking dominance ahead of the halvings happened in 2016 and 2020.
With the next bitcoin halving expected in April 2024, Michaël van de Poppe predicted that once bitcoin bottoms out from its current downtrend, altcoins are likely to start outperforming bitcoin significantly.
In summary, these crypto experts are seeing indications across technical indicators and market cycles that conditions could soon be ripe for altcoins to leave bitcoin in the dust. For altcoin investors, these could be bullish signals hinting that the long-awaited “altseason” may soon kick into high gear. As Moustache stated, many people simply “don’t know it yet.”
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