Crypto analyst Kevin Svenson predicts a significant price surge for altcoins, based on his analysis of market trends.
Watching the “OTHERS” Chart
Svenson, who boasts a large YouTube following, focuses on the “OTHERS” chart. This chart tracks the total market capitalization of all cryptocurrencies excluding the top 10 and stablecoins. It’s a key indicator of altcoin market performance. He notes that the current “OTHERS” chart closely resembles its performance in 2024, which saw a correction followed by a massive price increase.
The Key to Altcoin Success: Bitcoin and S&P 500
Svenson believes a repeat of this surge is highly likely if two conditions are met: Bitcoin and the S&P 500 both hit new all-time highs. He points out that Bitcoin recently reached a new high, but the S&P 500 hasn’t yet. If both achieve this milestone, he predicts a substantial altcoin rally, potentially mirroring the 140% increase seen in the “OTHERS” chart in late 2024. This could push the “OTHERS” market cap to $570 billion.
Currently, the “OTHERS” market cap sits at $233.72 billion.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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