A widely respected cryptocurrency analyst points out that the next altcoin cycle is likely just around the corner, but there could be a downturn first.
In a new strategy session, DataDash host Nicholas Merten told his 511,000 YouTube subscribers that a key indicator is the total market capitalization of all crypto assets excluding the top two digital assets: Bitcoin (BTC) and Ethereum (ETH) (TOTAL3). They say it suggests. , it is performing at its best.
“Of all these indicators, all the indices we track within cryptocurrency market cap and the various sectors of cryptocurrency (TOTAL3, which is the actual kind of altcoin space outside of Ethereum and Bitcoin) performed the best…
The more I look at this, the more I continue to believe that small caps, especially the two sectors Bitcoin-related infrastructure and meme coins, are the places to go.
TOTAL3 is made up of larger altcoin pools that can make sizable moves, so it has a lot of small and mid-cap stocks that can make much more substantial moves.”
According to Merten, if the 21-day moving average fails to hold, a total of three will see a decline in the coming days. However, analysts note that TOTAL3 is set to experience “seismic” activity in the coming months.
“That’s one thing that makes me optimistic, even though we could expect a slight decline in the next few days if we don’t hold it (21-day moving average).
We seem to be heading towards a point where the altcoin cycle we’ve been really anticipating will actually make a huge move (and) likely lead to an acceleration of TOTAL3, the final explosive peak, in the coming months. soon.”
As of this writing, TOTAL3’s market cap is $448.5 billion, down slightly over the past 24 hours.
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