Analyst Kevin Svenson warns that the most profitable period for altcoins has not yet begun. Based on historical data, he predicts that the TOTAL3 chart will soon experience a significant upward movement. According to Svenson, a strong bullish phase in the altcoin market will commence approximately 40 weeks after the Bitcoin 
$66,385 block reward halving in 2024.
Big Opportunities Await for Altcoins
For those unfamiliar, the TOTAL3 chart tracks the market capitalization of all cryptocurrencies excluding Bitcoin, Ethereum 
$1,942, and stablecoins. Svenson noted, “In the last cycle, TOTAL3 soared by 170% after breaking its all-time high. Although we may not see the same rate of increase this cycle, a notable rise is on the horizon.” He believes that the market cap of TOTAL3 could reach up to $2 trillion during this cycle, while it currently stands at around $98 billion.
Additionally, Svenson anticipates a decline in Bitcoin’s market dominance (BTC.D), stating that altcoins will take over market leadership. “About 40 weeks after the block reward halving, Bitcoin’s market dominance begins to decrease rapidly, allowing altcoins to seize the lead,” he explained.
As Bitcoin’s Dominance Declines, Altcoins Will Rise
Svenson predicts that BTC.D could drop to 42% within the next six months, currently sitting at 58.01%. He believes that as Bitcoin’s market dominance wanes, more investor interest will turn toward altcoins, suggesting that the most lucrative period for the altcoin market could begin in the coming months. Svenson emphasizes the importance of monitoring the TOTAL3 chart, which he believes will indicate significant movement in the cryptocurrency market with the ascent of altcoins.
Svenson’s analysis offers a fresh perspective on the future potential of altcoins. However, it is important to note that all these predictions should be considered as informative insights.
