Crypto analyst Matthew Hyland believes the market is entering a favorable phase that could fuel strong gains across digital assets over the next two to three years. According to him, the broader macroeconomic environment that weighed on cryptocurrencies for the past four years is beginning to shift, creating conditions similar to those that preceded previous major bull markets.
In recent posts on X, Hyland argued that investors are once again embracing risk, a trend he says mirrors the market transitions seen before the powerful crypto rallies of 2016 and 2020.
Historical Cycles Point to a New Bullish Phase
Hyland based his outlook on three major macro risk bear market periods spanning 2014 to 2016, 2018 to 2020, and 2022 through 2026. During each of these phases, cryptocurrencies struggled while broader market conditions remained unfavorable. Once those macro conditions improved, however, the crypto market entered some of its strongest periods of growth.
He believes the current cycle is following the same pattern.
According to Hyland, the macro risk environment is emerging from a prolonged bearish phase for the first time since the market transitions of 2016 and 2020. In both previous instances, the shift created what he described as exceptional long term opportunities for crypto investors.
The analyst also highlighted two technical indicators supporting his outlook. Bitcoin dominance has recently formed a death cross for the first time since the previous market transitions, which he views as an early sign of changing market leadership. He expects altcoin dominance to produce a golden cross later this year, repeating a pattern that occurred before earlier altcoin rallies.
Hyland added that his proprietary macro risk indicators turned bullish in both 2016 and 2020 and are now signaling another similar shift. While he believes this could make the next two to three years one of the strongest periods for crypto investing, he acknowledged that the outlook remains a market thesis rather than a certainty, as digital asset cycles are also influenced by liquidity, investor sentiment, and broader economic conditions.
Market Signals Remain Mixed
Hyland’s comments come as Bitcoin trades around $63,000 after briefly climbing above $64,000, its highest level in roughly two weeks. The cryptocurrency recovered despite Strategy’s sale of 3,588 BTC to help fund dividend payments.
Market intelligence platform Swissblock said Bitcoin is showing signs of stabilizing but cautioned that a sustained recovery will require continued buying pressure.
Several other analysts have also expressed optimism. Credible Crypto believes altcoins that remain 80 to 90 percent below their previous highs could outperform Bitcoin if market sentiment continues to improve. He also noted that long term holders now control nearly 80 percent of Bitcoin’s circulating supply.
Meanwhile, analyst Michael van de Poppe suggested Ethereum may have already passed its weakest period, pointing to the possibility of forming a higher low against Bitcoin after recording three consecutive quarters of declines exceeding 20 percent.
Trader Merlin The Trader also highlighted Ethereum’s drop to 0.026 BTC, a level that previously preceded a 230 percent rally against Bitcoin. Although these forecasts are independent of Hyland’s analysis, the number of bullish signals emerging within the same week has drawn increased attention from market participants.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
