A crypto strategist who nailed the end of Bitcoin’s (BTC) 2021 bull market thinks that a huge upswing for the altcoin market is just getting started.
Pseudonymous analyst Pentoshi tells his 755,100 followers on the social media platform X that he’s keeping a close watch on the TOTAL3 chart, which tracks the market cap of all digital assets excluding Bitcoin, Ethereum (ETH) and stablecoins.
[adinserter block="1"]According to the crypto analyst, he sees the total market cap of all altcoins (TOTAL3) meteorically rising over 264% from its current level of about $548 billion.
“Yeah, we haven’t seen anything yet. We could see this potentially when it’s all said and done this cycle hit a couple trillion [dollars]. We aren’t even close to new highs yet. But we are seeing the winners of this cycle, which should in theory have far more upside.”
The analyst highlights that the recent bullish moves in the crypto markets have mostly been focused on Bitcoin and a true altcoin season has yet to manifest.
“Bros, you realize that if you look at the total alt market cap we haven’t even had this cycle’s alt season and the best performers will remain the best performers.”
Speaking of best performers, Pentoshi names two crypto subsectors that he thinks will outpace the rest of the market.
“AI (artificial intelligence) + gaming. Easy thesis that people love and are passionate about continues to do well.”
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
