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Home»ALTCOIN NEWS»There is a solid outlook for Bitcoin and altcoins in the coming quarters, says analyst Kevin Svenson. Here’s his outlook:
ALTCOIN NEWS

There is a solid outlook for Bitcoin and altcoins in the coming quarters, says analyst Kevin Svenson. Here’s his outlook:

By Crypto FlexsSeptember 28, 20242 Mins Read
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There is a solid outlook for Bitcoin and altcoins in the coming quarters, says analyst Kevin Svenson. Here’s his outlook:
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Crypto analyst Kevin Svenson believes Bitcoin (BTC) and altcoins will see significant gains for the remainder of the year.

In a new video, Svenson told his 79,800 YouTube subscribers that Bitcoin and altcoins are poised for further gains in the coming weeks and months.

According to Svenson, altcoin market caps appear to be repeating a pattern seen in the last cycle, when it took 157 weeks to trigger a large breakout rally.

“Altcoin market caps have been consolidating throughout the year. In early 2024, altcoins had a huge rally through March, giving up all their gains and are now starting to recover. Altcoin market capitalization is starting to surpass the resistance line…

About 10 weeks from now we will break the low ($820 billion total altcoin market cap). This means that many altcoins will see massive growth between now and November. So Q4 is looking firmly at altcoins and Bitcoin for that matter.”

Source: Kevin Svenson/YouTube

At the time of this writing, the altcoin market capitalization (TOTAL3) is trading at $641 billion.

Looking at Bitcoin, Svenson believes BTC is on the verge of hitting a new all-time high after the S&P 500 index hit an all-time high earlier this week.

“S&P all-time highs are always ahead of Bitcoin all-time highs. S&P has never pushed Bitcoin to an all-time high before. So it looks good, I mean everything seems to be going well…

As I keep saying, we are much closer to all-time highs than most people think. The gap from current prices to the all-time high (about $73,800) is less than 14%.”

Source: Kevin Svenson/YouTube

At the time of this writing, Bitcoin is trading at $65,590.

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