- Top altcoins like XRP, Cardano, and Solana have seen substantial gains recently.
- Bitcoin analyst Pentoshi predicts altcoins could peak in summer 2022.
- Bitcoin’s market capitalization surpasses the total value of all altcoins.
Recent weeks have seen substantial gains in top alternative cryptocurrencies (altcoins) like XRP
Pentoshi, a well-known Bitcoin analyst on X with a following of over 750K, has shared his views on the possibility of the entire altcoin market surpassing a year’s high despite prolonged resistance.
Pentoshi initially pointed out that the present market value of all altcoins, except Ethereum
However, the analyst predicts that a breakthrough from this resistance level may result in new annual peaks for altcoins in the near to intermediate term.
Pentoshi specifically predicted that altcoins could hit their 2021 bottom and peak in summer 2022, as indicated by the top white line on the chart included in the X post. He estimated a market capitalization of $455.86 billion for altcoins (excluding BTC and ETH) in the X post, suggesting a 19% increase from the present value.
Concurrently, the analyst from Pentoshi warned that there would likely be significant declines on the path to the forecasted valuation. Importantly, another well-known analyst pointed out the appearance of a repetitive pattern in the altcoin market. He proposed that the impending Bitcoin halving event could substantially impact the breakout trends in altcoins.
Remarkably, Bitcoin’s
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
