Crypto trader Jason Pizzino believes the altcoin market is nearing a bottom and poised for a significant upswing in the coming months. In a recent strategy session, he told his YouTube subscribers that the total altcoin market cap has flipped a key resistance level into support, indicating a potential bull run later this year.
- Pizzino suggests the altcoin market may experience a slight downside move before a significant upswing.
- He advises investors to consider accumulating altcoins at current levels for potential 20x, 50x, or even 100x returns.
- Pizzino predicts a 12-month bull market for altcoins, starting around November 2024, coinciding with the US presidential election.
Pizzino believes that the altcoin market is showing signs of breaking out of previous resistance around $270 billion and may revisit this level before launching the next leg up. He draws parallels to the 2020 cycle, suggesting that the total market cap for alts may soar for about 12 months beginning in November 2024, coinciding with the US presidential election.
At the time of writing, the total altcoin market cap stands at $479.47 billion. Pizzino emphasizes the importance of due diligence and advises investors to carefully consider their investment strategies before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.