• Decreased treasury yields signal multiple rate cuts, boosting altcoins.

  • Altcoins historically perform better in the year’s second half.

  • Approval of the Ethereum ETF could drive significant investment into altcoins.

A crypto analyst has predicted an imminent altcoin bull market, citing falling bond yields, historical price patterns, and the potential approval of an Ethereum Exchange-Traded Fund (ETF) as key drivers.

#Altcoins are the cheapest in three years! You might wonder whether we’ll be having a bull market for altcoins ever again. I think it’s on the horizon and in this video, I explain which event needs to be happening: https://t.co/kLK5AWuUPSMultiple arguments can be found for a… pic.twitter.com/KYHIsTE4OX

— Michaël van de Poppe (@CryptoMichNL) July 1, 2024

The analyst observes that while current interest rates are high, an unfavorable indicator for risky assets like cryptocurrencies, yields on treasury bonds have declined significantly. This suggests that the market is anticipating rate cuts sooner than expected, a development that could benefit altcoins.

“This means that the markets aren’t pricing in a continuation of the rate hikes and start to price in rate cuts sooner rather than later. I think that’s likely. I think we’ll be having multiple rate cuts rather than the one predicted by the FED.”

Historically, peak yields have often been followed by a significant rise in altcoin prices. For example, in October 2023, altcoins experienced substantial gains, with many increasing 5-10 times in value relative to Bitcoin. However, as Bitcoin staged its strong comeback, altcoin prices dropped sharply against Bitcoin pairs.

Next, the analyst highlights the seasonal pattern in altcoin prices. He notes that altcoins have historically performed better in the second half of the year compared to the first half, a trend that he believes is likely to continue in 2024.

Source:Michaël van de Poppe

Finally, the analyst emphasizes the potential impact of the approval of an Ethereum Exchange-Traded Fund (ETF). He considers this a major bullish signal for altcoins, believing that it will attract new capital into the crypto market, thereby boosting altcoin prices.

Overall, the analyst expressed optimism about the future of altcoins, citing multiple factors that could contribute to a sustained rally, including potential rate cuts, seasonal trends, and the possible approval of an Ethereum ETF.

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