Cryptocurrency analyst Kevin Svenson is shedding light on a potential bullish catalyst for altcoins. Svenson, who has a significant following on YouTube with 82,800 subscribers, believes that an expansion in the global money supply could be the trigger for a rally in altcoins.
According to Svenson, previous altcoin rallies have been ignited by an increase in the global money supply. He notes that every major bull run for altcoins typically coincides with a surge in global liquidity. Recently, there has been a gradual uptick in the M2 money supply, hinting at a potential breakout in global liquidity. Svenson suggests that this breakout could be the catalyst that altcoins need to start making significant moves.
The crypto analyst points out that he anticipates altcoins to mirror the price action seen during the fourth quarter of 2024. He predicts that the market cap of altcoins could surge by approximately 190% from its current level. This would potentially take the market cap to around $730 billion, marking a new all-time high for altcoins.
Svenson speculates that after reaching this target zone, altcoins may experience a pullback to retest the trend line before potentially embarking on another upward trajectory. He envisions a scenario where altcoins follow a steady uptrend with profit-taking occurring at each new high.
In conclusion, Svenson’s analysis suggests that a surge in the global money supply could be the catalyst that propels altcoins to new heights. With the potential for significant gains on the horizon, investors in the altcoin market may want to keep a close eye on developments in global liquidity.
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