Altcoin Market Poised for 140% Surge if Bitcoin and S&P 500 Hit New Highs

Crypto analyst Kevin Svenson, recognized for his precise Bitcoin (BTC) predictions, has indicated that altcoins are on the verge of a substantial price increase. In a recent strategy session, Svenson shared his insights with his 83,300 YouTube subscribers, focusing on the OTHERS chart. This chart monitors the total market capitalization of cryptocurrencies, excluding the top 10 digital assets and stablecoins, serving as a performance indicator for the altcoin market.

Svenson observed that the OTHERS chart is following a similar pattern to its 2024 price action, which included a corrective phase followed by a parabolic surge toward the end of the year. He anticipates that altcoins could experience another explosive rally if Bitcoin and another asset class, such as the S&P 500, achieve new record highs simultaneously. According to Svenson, this scenario could result in a major pump for low-cap altcoins, potentially driving the OTHERS chart up to $570 billion, similar to the 140% increase observed in late 2024.

Svenson's analysis is grounded in the observation that the previous surge in the OTHERS chart coincided with both Bitcoin and the S&P 500 breaking into new all-time highs. While Bitcoin has recently set a new all-time high, the S&P 500 has not yet followed suit. Svenson believes that if both indices achieve new highs, it could trigger a significant rally in the altcoin market.

At the time of writing, the OTHERS chart is trading at $233.72 billion. Svenson's prediction is based on historical price action and the potential for a coordinated breakout in both Bitcoin and the S&P 500. However, it is important to note that this is a forecast and not a guarantee of future performance. Investors should conduct their own due diligence before making any high-risk investments in cryptocurrencies or digital assets.