Crypto Expert Predicts Major Altcoin Season As Market Cap Eyes Record Levels

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,833,962,405,499	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,833,962,405,499

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-2,370.88	-2.49%	92,738.79	92,738.79	92,738.80

Price Change

Price Change %

Current Price

Bid Price

Offer

-2,370.88

-2.49%

92,738.79

92,738.80

High Price	Low Price	Open Price	Prev. Close	52 Week Range
96,430.08	92,360.91	95,050.00	95,109.67	38,501.00 - 108,388.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

96,430.08

92,360.91

95,050.00

95,109.67

38,501.00 - 108,388.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	20:37:26	0.000907	92,738.80	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

20:37:26

0.000907

92,738.80

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,974,920,770.41	20,989.58	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,974,920,770.41

20,989.58

Crypto Expert Predicts Major Altcoin Season As Market Cap Eyes Record Levels

19/12/2024 8:30am

NEWSBTC

Market expert Lark Davis has recently taken to social media to assert that the much-anticipated altcoin season is far from over despite short-term corrections and challenges the broader crypto market faces. Davis believes that significant opportunities lie ahead for altcoins, particularly as their total market capitalization (excluding Bitcoin and Ethereum) hovers around $1.05 trillion. Key Factors For Impending Altcoin Season The expert points out that the current altcoin market cap is nearing its previous high of $1.13 trillion from November 2021. He recalls a similar scenario from February 2021, when the altcoin market cap tested the highs from January 2018 before breaking through. This breakout resulted in an impressive surge from $360 billion in February 2021 to $1.13 trillion by November 2021—an increase of over 200%. Davis firmly believes that once the altcoin market cap surpasses the $1.13 trillion threshold again, we could witness one of the largest altcoin seasons in the history of cryptocurrency. Related Reading: Whales Snap Up 30 Million XRP As Ripple Launches Its RLUSD Stablecoin Several key factors contribute to Davis’s optimism regarding the impending altcoin surge: Bitcoin’s Performance: Currently at all-time highs, the Bitcoin price strength often catalyzes interest in altcoins. Political Transition: With Donald Trump set to take office in just 34 days, market sentiment may shift favorably towards cryptocurrencies. Global Rate Cuts: Central banks worldwide are reducing interest rates, which typically increases liquidity in the market. Increased Capital Investment: An influx of cheap capital is making its way into the cryptocurrency space, setting the stage for potential growth. Risk-On Environment: The current market conditions are among the strongest for risk-on assets, creating an ideal backdrop for altcoin investment. Rally Anticipated As Bitcoin Dominance Rises Echoing Davis’s sentiments, crypto analyst Miles Deutscher emphasizes that the real altcoin season has yet to commence. He points to compelling historical evidence suggesting that alt-seasons are not mere coincidences but rather distinct seasonal phenomena backed by statistical patterns. Historically, Ethereum (ETH) has shown impressive returns from January to May, often outperforming Bitcoin during this period. During these months, Ethereum averages about 28% monthly returns, compared to a mere 3% for the rest of the year. Related Reading: MicroStrategy’s Bankruptcy Risk: CEO Warns Bitcoin Must Drop To $16,500 To Trigger Collapse In addition, the analyst asserts that the current environment is particularly favorable for this rotation, as Ethereum has historically outperformed Bitcoin by approximately 20% per month during alt-seasons. As Bitcoin’s performance strengthens, so too does the likelihood of capital flowing into Ethereum and other altcoins. This rotation is already observable in the recent surge in Bitcoin dominance, which has mirrored patterns seen in previous alt-seasons around 2017 and 2021. At the time of writing, ETH, the largest altcoin on the market, is trading at $3,686, down 4.4% over the 24-hour period and nearly 6% over the week. Featured image from DALL-E, chart from TradingView.com

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