{"id":598042,"date":"2024-03-16T00:30:10","date_gmt":"2024-03-16T00:30:10","guid":{"rendered":"https:\/\/wncen.com\/?p=598042"},"modified":"2024-06-11T07:21:48","modified_gmt":"2024-06-11T07:21:48","slug":"key-trend-driving-altcoin-market-toward-425-billion-analyst","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/key-trend-driving-altcoin-market-toward-425-billion-analyst\/","title":{"rendered":"Key Trend Driving Altcoin Market Toward $425 Billion: Analyst"},"content":{"rendered":"

Amid the bullish sentiment around the crypto landscape, the Altcoin overall market cap has displayed positive strength as many investors and traders are throwing capital into several <\/span>altcoins<\/span><\/a> ahead of the bull cycle.\u00a0<\/span><\/p>\n

Altcoin Market To Rally Toward $425 Billion<\/span><\/h2>\n

Since Bitcoin has surged to a new record high, many cryptocurrency analysts anticipate a surge in the altcoin market cap. <\/span>Rekt Capital, a cryptocurrency expert and trader, has <\/span>shared<\/span><\/a> a positive prediction regarding the altcoins market cap with the community on X. <\/span><\/p>\n

The expert analysis delves into the current state of the market and its potential to surge higher in the coming months. His projections came in light of the altcoin season index showing advancement, which suggests that its season is almost here.<\/span><\/p>\n

Related Reading: Crypto Analyst Projects $7 Trillion Market Cap For Altcoins \u2013 Here\u2019s When<\/a><\/div>\n

According to the analyst, the market has been “redirected into the blue-circled testing area,” which was caused by rejection from the “red-circled circle zone.” However, the market has rebounded since then, indicating an increased <\/span>interest<\/span><\/a> from market investors.<\/span><\/p>\n

\"Altcoin\"
ALTs market cap excluding top 10 cryptos to hit $425 billion | Source: Rekt Capital on X<\/a><\/figcaption><\/figure>\n

Furthermore, Rekt Capital noted that the market has surpassed the “$315 billion red line of resistance.” As a result, the red line resistance level has now been changed to a “new support level.” <\/span>Due to this, the crypto analyst anticipates a surge to the “light blue circle” at the $425 billion threshold in the upcoming months.<\/span><\/p>\n

The post read:<\/span><\/p>\n

The red-circled area rejected the Altcoin Market back into the blue-circled retesting zone. Since then, the Altcoin Market Cap has recovered, broken beyond the red $315bn resistance, and turned recently into new support. Next is the light blue circle, over time.<\/span><\/p><\/blockquote>\n

However, Rekt Capital also asserted in another recent <\/span>post<\/span><\/a> that the “$315 billion mark is still being retested by alts market cap new support.” It has been unable to move past it despite today’s double-digit declines on several altcoins.<\/span><\/p>\n

Even though the market is still retesting the aforementioned level, Rekt Capital is confident that it will “revisit the $425 billion resistance” soon. He anticipates the market revisiting the level before the <\/span>Bitcoin Halving<\/span><\/a> event, expected to take place in April.<\/span><\/p>\n

Alts Gains Are Sustable And Likely To Crash<\/span><\/h2>\n

Chief Executive Officer (CEO) of Bitcoin technology firm JAN3, Samson Mow, has also <\/span>shared<\/span><\/a> his insights regarding the altcoin market. Despite anticipating a rise in the altcoin market, Mow highlighted that he expects alts to “crash in the upcoming weeks.”\u00a0<\/span><\/p>\n

Related Reading: Altcoin Market Cap Break From \u201cWyckoff Accumulation Phase\u201d: Will Ethereum, XRP Fly?<\/a><\/div>\n

According to Mow, alts have been monitoring the “increase in Bitcoin” after launching BTC Spot Exchange-Traded Funds (ETFs). However, altcoins do not possess “the $500 million to $1 billion” daily inflows seen with Bitcoin.<\/span><\/p>\n

Consequently, this should be the “major sign” that their <\/span>gains<\/span><\/a> “can not” be maintained. “MSTR has a $30 billion market cap, <\/span>Solana<\/span><\/a> is $73 billion. That is absurd. A correction is overdue,” he added.<\/span><\/p>\n

\"Altcoin\"
Cryptocurrency market cap excluding Bitcoin and Ethereum at $716 billion on the daily chart | Source: TOTAL3 on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Amid the bullish sentiment around the crypto landscape, the Altcoin overall market cap has displayed positive strength as many investors and traders are throwing capital into several altcoins ahead of the bull cycle.\u00a0 Altcoin Market To Rally Toward $425 Billion Since Bitcoin has surged to a new record high, many cryptocurrency analysts anticipate a surge in the altcoin market cap. Rekt Capital, a cryptocurrency expert and trader, has shared a positive prediction regarding the altcoins market cap with the community on X. The expert analysis delves into the current state of the market and its potential to surge higher in the coming months. His projections came in light of the altcoin season index showing advancement, which suggests that its season is almost here. Related Reading: Crypto Analyst Projects $7 Trillion Market Cap For Altcoins \u2013 Here\u2019s When According to the analyst, the market has been “redirected into the blue-circled testing area,” which was caused by rejection from the “red-circled circle zone.” However, the market has rebounded since then, indicating an increased interest from market investors. Furthermore, Rekt Capital noted that the market has surpassed the “$315 billion red line of resistance.” As a result, the red line resistance level has now been changed to a “new support level.” Due to this, the crypto analyst anticipates a surge to the “light blue circle” at the $425 billion threshold in the upcoming months. The post read: The red-circled area rejected the Altcoin Market back into the blue-circled retesting zone. Since then, the Altcoin Market Cap has recovered, broken beyond the red $315bn resistance, and turned recently into new support. Next is the light blue circle, over time. However, Rekt Capital also asserted in another recent post that the “$315 billion mark is still being retested by alts market cap new support.” It has been unable to move past it despite today’s double-digit declines on several altcoins. Even though the market is still retesting the aforementioned level, Rekt Capital is confident that it will “revisit the $425 billion resistance” soon. He anticipates the market revisiting the level before the Bitcoin Halving event, expected to take place in April. Alts Gains Are Sustable And Likely To Crash Chief Executive Officer (CEO) of Bitcoin technology firm JAN3, Samson Mow, has also shared his insights regarding the altcoin market. Despite anticipating a rise in the altcoin market, Mow highlighted that he expects alts to “crash in the upcoming weeks.”\u00a0 Related Reading: Altcoin Market Cap Break From \u201cWyckoff Accumulation Phase\u201d: Will Ethereum, XRP Fly? According to Mow, alts have been monitoring the “increase in Bitcoin” after launching BTC Spot Exchange-Traded Funds (ETFs). However, altcoins do not possess “the $500 million to $1 billion” daily inflows seen with Bitcoin. Consequently, this should be the “major sign” that their gains “can not” be maintained. “MSTR has a $30 billion market cap, Solana is $73 billion. That is absurd. A correction is overdue,” he added. Featured image from Shutterstock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":590667,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,51066,428,8856,91154,91856,8379,1946,91322,88599,69575,9594,83626],"class_list":["post-598042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-alts","tag-bitcoin","tag-bitcoin-halving","tag-bitcoin-spot-exchange-traded-funds","tag-bitcoin-technology-firm","tag-etfs","tag-ethereum","tag-jan3","tag-mstr","tag-rekt-capital","tag-samson-mow","tag-solana"],"acf":[],"yoast_head":"\nKey Trend Driving Altcoin Market Toward $425 Billion: Analyst<\/title>\n<meta name=\"description\" content=\"Altcoin overall market cap has displayed positive strength as investors are throwing capital 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Key Trend Driving Altcoin Market Toward $425 Billion: Analyst","url":"http:\/\/wncen.com\/news\/key-trend-driving-altcoin-market-toward-425-billion-analyst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/key-trend-driving-altcoin-market-toward-425-billion-analyst\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/WhatsApp-Image-2024-02-29-at-10.27.55-AM.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/WhatsApp-Image-2024-02-29-at-10.27.55-AM.jpeg?fit=390%2C280"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","alts","bitcoin","bitcoin halving","bitcoin spot exchange-traded funds","bitcoin technology firm","etfs","ethereum","jan3","mstr","rekt capital","samson mow","solana"],"dateCreated":"2024-03-16T00:30:10Z","datePublished":"2024-03-16T00:30:10Z","dateModified":"2024-06-11T07:21:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Key Trend Driving Altcoin Market Toward $425 Billion: Analyst\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/key-trend-driving-altcoin-market-toward-425-billion-analyst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/key-trend-driving-altcoin-market-toward-425-billion-analyst\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/WhatsApp-Image-2024-02-29-at-10.27.55-AM.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/WhatsApp-Image-2024-02-29-at-10.27.55-AM.jpeg?fit=390%2C280\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"alts\",\"bitcoin\",\"bitcoin halving\",\"bitcoin spot exchange-traded funds\",\"bitcoin technology firm\",\"etfs\",\"ethereum\",\"jan3\",\"mstr\",\"rekt capital\",\"samson mow\",\"solana\"],\"dateCreated\":\"2024-03-16T00:30:10Z\",\"datePublished\":\"2024-03-16T00:30:10Z\",\"dateModified\":\"2024-06-11T07:21:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/WhatsApp-Image-2024-02-29-at-10.27.55-AM.jpeg?fit=390%2C280","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/598042"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=598042"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/598042\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/590667"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=598042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=598042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=598042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}