A widely followed analyst is unveiling a possible timeline for the altcoin markets to record new all-time highs.
In a new strategy session, trader Jason Pizzino tells his 329,000 YouTube subscribers that he’s looking closely at the TOTAL3 chart, which tracks the market capitalization of all crypto assets excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins.
According to Pizzino, TOTAL3 witnessed a 26-month accumulation period during the last cycle, spanning from late 2018 to early 2021, before launching a parabolic surge
Pizzino says that TOTAL3 may be mirroring the same pattern in this cycle and could be a few months away from igniting a steep upside surge.
“That would take us out to about February, so quarter one [of 2025]. As you’re looking at quarter four 2024 – quarter one 2025, I think that’s probably got some pretty good movement for a new, fresh high price…
All of this fear of the market heading down would be forgotten by quarter four. I’m going to throw my neck out on the line here.”
Looking at the trader’s chart, he seems to predict that the total altcoin market cap will drop to the 50% Fibonacci level at around $400 billion before igniting a recovery and rallying to a new all-time high above $1 trillion early next year.
At time of writing, TOTAL3 is hovering at $597 billion.
[embedded content]
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://dailyhodl.com/2024/06/19/heres-when-the-altcoin-market-cap-will-print-fresh-all-time-highs-according-to-trader-jason-pizzino/
