Kevin Svenson Predicts Strong Growth in the Altcoin Market

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New Opportunities in the Cryptocurrency Market:

Analyst Kevin Svenson points out that the altcoin market is about to enter a strong bullish phase, with the TOTAL3 chart's market capitalization expected to reach $2 trillion. The TOTAL3 chart tracks the market capitalization of all cryptocurrencies excluding Bitcoin and Ethereum, covering altcoins and stablecoins. According to Svenson's analysis, the most profitable period for altcoins has yet to begin, and the market is about to experience explosive growth.

Shift in Market Dominance:

Svenson notes that Bitcoin's market dominance (BTC.D) will begin to decline significantly after the 2024 halving, allowing altcoins to take over market leadership. Based on historical data, he predicts that TOTAL3's market capitalization could reach $2 trillion during this cycle, up from its current market cap of about $98 billion. Additionally, Bitcoin's market dominance is expected to drop to 42% within the next six months (currently at 58.01%).

Support from Historical Data:

According to Svenson's analysis, historical data shows that TOTAL3 rose by 170% after breaking through its historical high. While the expected increase this time may not be exactly the same, he believes the market will see substantial growth. As Bitcoin's dominance weakens, more investors will turn to altcoins, presenting significant opportunities for the altcoin market.

Conclusion:

With the decline of Bitcoin's dominance and the rise of the altcoin market, the coming months may be the best time to invest in altcoins. Svenson emphasizes that monitoring the TOTAL3 chart will help investors grasp the potential of the altcoin market. However, all these predictions should still be taken as informational references, and investors should make decisions cautiously.

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