Alert Altcoins reach ultimate surrender as cryptocurrency depression takes hold

As the value of Bitcoin (BTC) continues its downward trend, the entire cryptocurrency market is experiencing a slump, leading altcoins towards the final phase of the current trading cycle, as noted by well-known crypto trading expert Michaël van de Poppe.

Van de Poppe mentioned that he had seen this part of the cycle before in 2020 and that the altcoins, in which he heavily invested a month ago, were now beginning to experience significant losses. Despite this, he advised that now is the time to take more risks, as stated in his article on June 17.

Reminiscing on the past, the crypto analyst recalled how he went all-in on projects like Verasity (VRA), Polygon (MATIC), and Fantom (FTM) during a prolonged bear market in August 2020. Initially, these coins plummeted by over 50%, but eventually saw gains of more than 200x, leaving many behind.

Drawing attention to Solana (SOL), which surged by over 600% in 2020 but later corrected by nearly 90%, van de Poppe emphasized that history could repeat itself, leading to significant returns in the future.

Looking ahead, van de Poppe predicted a positive outlook for altcoin holders, citing past trends where the second half of the year proved to be favorable after a rough start. He also noted that altcoins tend to perform better once Bitcoin breaks its all-time high, hinting at a potential awakening in the current market.

Meanwhile, long-term Bitcoin investors remain optimistic, viewing the current price crash as an opportunity to buy more assets at a lower price. Reports indicate that accumulation addresses have received tens of thousands of BTC in recent days.

In conclusion, van de Poppe advised caution and reminded readers that investing in cryptocurrencies is speculative and carries inherent risks. It is essential to conduct thorough research and exercise prudence when making investment decisions.