Crypto analyst Kevin Svenson is predicting that the most explosive phase for altcoins in this market cycle is yet to come.
Svenson noted that historical trends suggest a potential breakout for the TOTAL3 chart, which tracks the market cap of all cryptocurrencies excluding Bitcoin, Ethereum, and stablecoins. Svenson pointed out that during the 2021 cycle, as Bitcoin’s price stabilized, the TOTAL3 market saw significant gains. He expects a similar shift in the current cycle, particularly around the 40th week after the halving event in April 2024. This would place the expected surge in altcoin prices around late January 2025.
According to Svenson, while the altcoin market has yet to break its all-time highs, it’s poised for substantial growth.
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Crypto Expert Who Predicted the Latest Correction Sees Opportunity to Buy He suggests the TOTAL3 market cap could climb to as high as $2 trillion, up from the current $982.2 billion, driven by a strong altcoin rally. He also believes Bitcoin’s dominance will begin to decrease after the 40th week, with altcoins gaining traction and market share. He forecasts that Bitcoin’s dominance, currently sitting at 42%, could drop further in the coming months.