Are altcoins far from over? Raul Pal reveals new five-year cycle expectations, with 2026 potentially reaching a liquidity peak

【Crypto World】Many industry insiders are discussing a topic: has the wave of altcoin行情真的结束了吗？The answer might not be that simple.

Macro investor Raul Pal recently pointed out an interesting phenomenon—the traditional four-year cycle of cryptocurrencies has been extended to five years. What does this mean? According to his calculations, the liquidity peak may not actually arrive until Q2 2026, when the US ISM index is very likely to break through the 50 key level.

From a technical perspective, trader Ash Crypto’s chart analysis is more specific. Currently, altcoins are trading within a long-term support zone, which is eerily similar to the situation before 2020. Historical experience tells us that the real surge of altcoins often occurs at a specific point—namely, when the Federal Reserve stops quantitative tightening.

What do the current data say? The altcoin行情指数 is still hovering around 37, indicating that this upward trend has not truly begun. In other words, liquidity has not been fully released, and although the cycle has been extended, this extended period has just provided more opportunities.