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Cryptocurrency News Articles
Bitcoin (BTC) and Altcoins Will Witness Big Upside Bursts for the Rest of the Year, Crypto Analyst Kevin Svenson Predicts
Sep 28, 2024 at 03:04 pm
Cryptocurrency analyst Kevin Svenson believes Bitcoin (BTC) and altcoins will witness big upside bursts for the rest of the year.
Cryptocurrency analyst Kevin Svenson is sharing his bullish outlook for Bitcoin (BTC) and altcoins, predicting significant gains throughout the remaining months of 2024.
In a recent YouTube video, Svenson updates his 79,800 subscribers on his analysis of Bitcoin and altcoins, expressing his optimism for their continued rally in the coming weeks and months.
According to Svenson’s analysis, the altcoin market cap appears to be repeating a pattern observed during the last cycle, where it took 157 weeks for the massive breakout rally to begin. He anticipates a similar timeframe for this cycle.
“The altcoin market cap has been consolidating for the entire year. In the beginning of 2024, the altcoins had a huge run into March, gave up all of their gains and now have started to recover. The altcoin market cap is beginning to break above resistance…
“About 10 weeks from now, we’re going to be breaking the lower high [total altcoin market cap of $820 billion], which means a lot of altcoins have tremendous growth coming from now into November. So Q4 is looking solid for the altcoins and for Bitcoin for that matter.”
The altcoin market cap (TOTAL3) is currently at $641 billion at the time of writing.
Shifting his attention to Bitcoin, Svenson points out that BTC is on the cusp of reaching a new all-time high, especially after the S&P 500 index hit a record high earlier this week. He believes this bodes well for Bitcoin’s performance.
“S&P all-time highs always precede Bitcoin all-time highs. There’s never been a new Bitcoin all-time high without the S&P doing it first. So it’s looking good guys, I mean everything seems to be lining up…
“Like I keep saying, we are much closer to the all-time high than most people think. From current prices to the wick high of the all-time high [at around $73,800], that’s less than 14% away.”
Bitcoin is trading at $65,590 at the time of writing.
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- Bitgert (BRISE) vs Neiro (NEIRO) Price Prediction: BRISE Could Completely Outpace NEIRO in the Coming Weeks
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- Top 20 Digital Assets with High Potential in Q4: An In-Depth Analysis
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- Sep 28, 2024 at 08:15 pm
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- Bitgert Coin gradually taking over the Baby Doge Coin market share, BRISE might join the top 10 coins in the coming months
- Sep 28, 2024 at 08:15 pm
- BTC just crossed the much-coveted 65k and is selling above 66k, confirming a boost that could see us moving into the bull season. However, with the bull season comes the altcoin season, which could reshape the market and show us new projects with high-profit potential.
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