Most Bullish Part of Altcoin Cycle Hasn’t Even Begun Yet, According to Analyst Kevin Svenson
Analyst and trader Kevin Svenson believes that the most explosive phase of the cycle for altcoins is still to come. In a new strategy session, Svenson tells his 81,300 YouTube subscribers that based on historic precedence the TOTAL3 chart may soon have an astronomical breakout. The TOTAL3 chart tracks the market capitalization of all crypto assets excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins. “[In 2021] Bitcoin got to a really high price and just started chopping. And when it was chopping around, the TOTAL3 went to the moon.” Source: Kevin Svenson/YouTube Svenson predicts that the most explosive season for the alts will start around the 40th week after the halving event in April 2024, when miners’ rewards were cut in half, which would be around the end of January. “So in this cycle right now the altcoins are currently not even the 40th week post-halving. We haven’t even gotten the all-time high break. In the last cycle, ...