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Most Bullish Part of Altcoin Cycle Hasn’t Even Begun Yet, According to Analyst Kevin Svenson

Crypto analyst and trader Kevin Svenson believes that the most explosive phase for altcoins is yet to come. He predicts that the altcoin season will start around the 40th week after the halving event in April 2024, which would be around the end of January. Svenson points to the TOTAL3 chart, which tracks the market capitalization of all cryptocurrencies excluding Bitcoin, Ethereum, and stablecoins, and suggests that it may have an astronomical breakout. He suggests that the altcoins could see a major pump in the coming months, with the total market cap potentially reaching $2 trillion. Additionally, Svenson expects Bitcoin dominance to decline, with the BTC.D ratio potentially dipping to around 42% within six months.

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