Crypto analyst Michaël van de Poppe believes that the altcoin season has not yet started and the altcoin market is still in a bear market phase, but it is nearing its end.
Van de Poppe predicts that the upcoming crypto bull market will be significant, as the current cycle differs from previous ones in terms of market trends and investor behavior.
Market deviations, such as institutional investments primarily in Bitcoin, availability of free cash injections due to COVID-19 relief measures, and oversaturation of new meme coins, have hindered altcoins' performance and delayed the onset of a potential altcoin season.
The chart analysis presented by TechDev indicates that the altcoin market might be at a crucial turning point, hinting at a potential future altcoin season following a period of relative stability amidst Bitcoin price surges.