A crypto analyst with a history of timely Bitcoin (BTC) groups believes that Altcoins is preparing for a price peak.
In a new strategy session, Kevin Svenson tells his 83,300 YouTube subscribers that he is closely monitoring the other graph that follows the total market capitalization of crypto, with the exception of the top 10 digital assets and stabilecoins.
Traders keep an eye on the other graph to gauge the performance of the Altcoin market.
According to the Crypto strategist, others seem to follow the price action from 2024, when it went through a corrective period before he caused a parabolic increase towards the end of the year.
Svenson predicts that Altcoins will organize a new explosive rally such as Bitcoin and another activa class rise to new record highs.
“I just show what appears on the graph. The setup is almost the same.
And this huge run -up when the other graph rose 140% last time … This happened because Bitcoin and the S&P [500] Both broke into a new of all time at the same time. We recently saw Bitcoin breaking a new all time, but the S&P did not.
So if we both let the S&P and Bitcoin break out to a new of all time, a movement like this [November to December 2024] Up to $ 570 billion for others, the Low-Cap Altcoins, are very likely in my opinion that we will get a big pump. “
At the time of writing, others act at $ 233.72 billion.
https://www.youtube.com/watch?v=-MSVRZIMVEU
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