Crypto Analyst Predicts Major Altcoin Rally After Ongoing Correction Similars Previous Cycles

• Altcoin market shows patterns of re-accumulation, signaling potential bullish reversals similar to past cycles.
• Mid-cycle corrections and double bottom formations suggest the crypto market may soon see an impulsive upward wave.
• Slow market growth in the 2018-2024 period mirrors earlier cycles, hinting at a potential rally after the ongoing correction phase.

Crypto analyst el_crypto_prof on X has shared insights into the market behavior of altcoins, highlighting that re-accumulation is currently taking place. He emphasizes that while many investors focus on lower time frames, a broader look shows this period mirrors earlier cycles.

The ongoing phase resembles past trends, although the current one appears to be taking longer. His analysis points toward patience being key, as it could eventually lead to rewards for those who stay the course.

Historical Market Cycles and Key Patterns

Looking back at the crypto market from 2014 to 2018, two waves,  “Impulse Wave” and “Impulse Wave 2”, are identified. Notably, the appearance of a double bottom early on suggested a potential reversal in market trends. 

This pattern led to an upward movement after a mid-cycle correction, pushing the market toward Impulse Wave 2. This wave concluded around 2018, indicating the completion of that particular market cycle.

The 2018-2024 Period, Similar Trends but Slower

Moving into the current market cycle from 2018 to 2024, el_crypto_prof’s analysis highlights a similar pattern of corrections within the mid-cycle, marked by another double bottom formation. This signals the possibility of a reversal as seen in the previous cycle. 

However, unlike the rapid growth in the 2014-2018 period, this cycle appears to be slower, indicating prolonged consolidation. Nevertheless, the presence of Impulse Wave 2 in the current phase hints at upcoming upward movement, reflecting a potential market rally after the ongoing correction.

Cyclical Behavior and Upcoming Growth

The crypto market excluding Bitcoin seems to follow a cyclical nature, where corrections and double bottom formations pave the way for impulsive waves. These recurring patterns provide insights into potential future growth. The chart showcases these trends, with mid-cycle corrections hinting at larger moves ahead. 

As observed in previous cycles, these corrections are often followed by impulsive waves, indicating a potential bullish trend on the horizon. This cyclical behavior suggests the possibility of growth in the coming phases, particularly as the current correction comes to an end.