A crypto analyst with a Bitcoin story (BTC) in a timely manner (BTC) estimates that altcoins are preparing for a price peak.
In a new strategy session, Kevin Svenson told his 83,300 YouTube subscribers which he closely monitored by the table of others, which follows the total market capitalization of the crypto, excluding the 10 best digital and stable assets.
Merchants keep an eye on others to assess the performance of the Altcoin market.
According to the crypto strategist, others seem to follow its 2024 price action, when it has gone through a corrective period before projecting a parabolic push towards the end of the year.
Svenson predicts that Altcoins will organize another explosive rally if Bitcoin and another asset class hovers in new records.
“I just show what appears on the graph. The configuration is almost the same.
And this enormous rupture when the other graphics increased by 140% the last time … It happened because Bitcoin and the S&P (500) burst into a new summit of all time at the same time. We saw Bitcoin break a new summit of all time recently, but the S&P did not do it.
So, if we both get the S&P and Bitcoin to go out soon to get a new summit of all time, a move like this (November to December 2024) up to $ 570 billion for others, low capitalization altcoins, are very likely, in my opinion, that we will get a major pump. “”
At the time of writing, others are negotiated at 233.72 billion dollars.
https://www.youtube.com/watch?v=-msvrzimveu
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