Source: Cointelegraph Original: "{title}"
Since the FTX crisis, the worst quarter has left many investors worried that the bull market may be over, but according to a panel of industry experts, the parabolic rally of Bitcoin and altcoins hasn't even truly begun.
At the LONGITUDE event hosted by Cointelegraph in Paris, MN Capital founder Michael van de Poppe stated during a panel discussion that he believes the bull market "actually is just starting now." Despite Bitcoin (BTC) recently falling below $80,000 due to global tariff concerns, making it hard to believe the bull market will continue, he noted that "historically," chaotic sell-offs often create conditions favorable for market reversals.
Van de Poppe compared the current market crash to the collapse triggered by the COVID-19 pandemic in 2020, when Bitcoin plummeted nearly 40% in a single day.
"That was the real bottom, and since then, Bitcoin has risen 20 times," van de Poppe said.
On April 7, Cointelegraph's editor-in-chief Gareth Jenkinson (left) hosted a panel discussion featuring three cryptocurrency experts in Paris. Source: Cointelegraph
Messari CEO Eric Turner agreed, stating, "We have never really experienced a true bull market," but rather "two sides of the market."
"We have Bitcoin, and all the money flows into [exchange-traded funds]," and then "you see some sporadic phenomena," such as meme coin frenzies and other short-term trends, he explained.
"I actually think the real question is, when will the bull market come? If you ask me, I think it will be in the third or fourth quarter of this year," Turner said.
Mantra co-founder and CEO John Patrick Mullin emphasized the need to look at the situation from a more macro perspective, especially in the U.S., in addition to short-term price fluctuations. He expressed excitement about all the favorable policy support coming from the U.S., including executive branch policies.
Favorable Policies, Poor Macro Environment
President Trump is pushing for cryptocurrency regulatory reforms in Washington, and lawmakers are getting closer to passing landmark stablecoin and market structure legislation.
Trump has also appointed several pro-crypto leaders to various positions, most notably Paul Atkins, who is closer to receiving a nomination for SEC chairman.
However, these positive developments have failed to ignite a bull market or bring meaningful capital inflows into the industry, primarily due to Trump's other agenda—particularly concerns over what is perceived as trade imbalances—raising growth worries.
The "Day of Liberation" tariffs implemented by Trump on April 2 were seen by many investors as an excessive attempt to rewrite the rules of global trade, as these tariffs exceeded the initially proposed 10% universal tariff.
Source: Andrea Junker
The tariff announcement triggered the largest capital outflow from the U.S. stock market since the COVID-19 pandemic.
However, looking at past crises like the COVID-19 pandemic, the Federal Reserve is likely to intervene at some point, taking measures to support the market and prevent further deterioration.
Van de Poppe stated during the panel discussion, "If you look back in history, you see another crisis, and eventually the Fed will intervene, lowering interest rates and printing money to stimulate the domestic economy. So, this will definitely happen. The question is, when will it happen," van de Poppe said.
Related: Analysts say Bitcoin is on the brink of the largest "price retracement" in the bull market.
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