As the cryptocurrency world moves forward in a constantly changing environment, investors and analysts continue to update their strategies by evaluating the fluctuations in the market. Recently, Jason Pizzino, a popular crypto analyst, offers a remarkable perspective on the future of the altcoin market.
Pizzino believes that the altcoin market is close to bottoming and that we are facing a major upward move soon. The analyst noted in a new strategy session that the total altcoin market cap has turned a key resistance level into support, suggesting that this could set the stage for a bull run that could begin later this year. However, he warns that there may be a slight downward movement from the current level in the near future.
Pizzino explains his warning as follows:
“There may be a little more negativity, but nothing serious compared to what we experienced in the previous cycle.
NEWS CONTINUES BELOWSo, if you are waiting for altcoins to make 20x, 50x, 100x, now is the time. And yes, I continue to post content like this because I think this would be the best time, given our position in the market.
If you did not fill your crypto bag at these specific lows (April 2023-October 2023), you are probably in one of the safer opportunities right now, as the market has broken out of previous resistance (around $270 billion) and will potentially move back to that level or approach said support. ”
NEWS CONTINUES BELOW
The analyst also follows the TOTAL3 chart, which tracks the total market value of digital assets excluding Bitcoin (BTC), Ethereum (ETH), and stablecoins. The chart in question shows that TOTAL3 will revisit the support level of around $270 billion before moving into the next phase.
Finally, Pizzino believes that the total market cap of altcoins could increase for approximately 12 months from November 2024, similar to what happened in the 2020 cycle. The peculiarity of November 2024 is that it is the time when the elections (US presidential elections) will begin.
“From then on, roughly around the election in 2024, you have about 12 months to go into the crazy bull market. The peak here will occur between approximately 2025 and early 2026.”
You can follow the current price movement here.
