Altcoins
Altcoin Market Set to Experience Explosive 3X Growth if THIS Happens
The altcoin market is on fire! Fueled by a rise in value and a decline Bitcoin Dominance, altcoins are experiencing a red-hot rally. The total market capitalization of altcoins soared 15% in just two weeks, reaching a staggering level. 1,156,000 billion dollars.
This rise brings it closer to the resistance levels seen in mid-March, when it peaked at $1.2 trillion.
Dive deeper to find out what analysts are predicting and how it could impact your crypto portfolio.
Tardigrade’s bold prediction
Famous crypto trader Tardigrade predicted a significant increase in the altcoin market. Tardigrade predicts that the market value could triple if the $Total2 (Crypto Total Market Cap excluding Bitcoin) breaks out of its current inverse head and shoulders pattern. This technical analysis indicator often signals a potential price rise.
The inverted head and shoulders pattern is currently forming in the $Total2 chart and suggests that the altcoin market is approaching the end of the right shoulder, indicating a possible upward move. Tardigrade expects this trend to lead to a breakout within a few weeks, potentially tripling the market value.
Bullish position of Rekt Capital
Echoing Tardigrade’s optimism, Rekt Capital’s analysis suggests that the Altcoin market capitalization is on track to reach levels not seen in several months. The analyst pointed out that this fits perfectly with the Ultimate Altcoin Market Cap game plan, outlined earlier this year.
This plan has been a valuable guide for traders and investors looking to capitalize on market movements.
Since the beginning of April 2024, the altcoin market has had its share of ups and downs. However, the current trend indicates a recovery and potential new highs, providing a positive outlook for those anticipating a bull market. Rekt Capital’s analysis supports the idea that the altcoin market is poised for significant growth, providing traders and investors reason to be optimistic.
The road ahead
With prominent analysts like Tardigrade and Rekt Capital forecasting significant growth, the altcoin market is poised for exciting times ahead. As the market continues to rally and approach new highs, traders and investors are eagerly watching for the breakout that could signal the next alt season.
Time to dust off your altcoin wallets? The next bull run could be just around the corner.