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A widely followed analyst reveals a potential timeline for altcoin markets to hit all-time highs.
In a new strategy session, trader Jason Pezzino told his 329,000 YouTube subscribers that he is looking closely at the TOTAL3 chart, which tracks the market cap of all crypto assets except Bitcoin (Bitcoin), Ethereum (Ethereum) and stable currencies.
According to Pezzino, TOTAL3 saw a 26-month buildup period during the last cycle, spanning from late 2018 to early 2021, before launching an equivalent surge.
Pizzino says TOTAL3 may be reflecting the same pattern this cycle and could be a few months away from igniting a sharp rally to the upside.
“That will take us about February, into the first quarter [of 2025]. As you’re looking at Q4 2024 and Q1 2025, I think this probably has a very good move to a new, new high price…
All this fear of the market going down will be forgotten by the fourth quarter. I’ll throw my neck on the line here.”
Looking at the trader’s chart, it appears he expects the total altcoin market capitalization to fall to the 50% Fibonacci level at around $400 billion before igniting a rebound and rising to a new all-time high above $1 trillion early next year.
At the time of writing, TOTAL3 was valued at $597 billion.
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