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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/kevin-svenson-predicts-altcoin-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Kevin Svenson Predicts Altcoin Surge</a><br></p>
<p style="text-align: justify">Cryptocurrency expert Kevin Svenson recently shared his insights on a potential “altcoin season” where alternative cryptocurrencies are expected to outperform <a href="https://en.bitcoinhaber.net/understanding-the-rise-of-bitcoins-new-whales" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>. In his latest YouTube video, Svenson discussed his rationale for why such a season might be imminent, presenting his analysis to his 78,600 subscribers.</p>
<h2 id="what-signals-an-altcoin-rise">What Signals an Altcoin Rise?</h2>
<p style="text-align: justify">Svenson attributes his bullish outlook for altcoins to the contrasting price trends of Bitcoin and Ethereum. While Bitcoin has entered a consolidation phase, breaking away from its previous parabolic trend, Ethereum continues to show exponential growth. According to Svenson, this divergence is a critical indicator that altcoins might soon start catching up with Bitcoin.</p>
<p style="text-align: justify">Since the start of 2023, Svenson has primarily focused on Bitcoin, influenced by significant events like BlackRock’s spot Bitcoin ETF <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">application</a> and the anticipated Bitcoin halving. Although these events have bolstered Bitcoin’s narrative, Svenson now believes the spotlight is shifting towards altcoins.</p>
<h2 id="why-is-bitcoin-dominance-important">Why Is Bitcoin Dominance Important?</h2>
<p style="text-align: justify">Another key factor Svenson highlights is the Bitcoin dominance (BTC.D) indicator, which measures Bitcoin’s market value relative to the entire cryptocurrency market. A decline in BTC.D typically signals that altcoins are appreciating faster than Bitcoin. Recent trends in BTC.D show a downward movement, which has historically marked the beginning of altcoin seasons.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify"><strong>Practical Insights:</strong></p>
<ul>
 <li>Bitcoin’s consolidation phase may signal a shift in market focus to altcoins.</li>
 <li>Ethereum’s continuous growth could pave the way for other altcoins to follow.</li>
 <li>A declining BTC.D indicator often suggests an upcoming surge in altcoin value.</li>
</ul>
<p style="text-align: justify">Svenson’s analysis, grounded in both technical indicators and market narratives, merits close observation. The current <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a>, characterized by Bitcoin’s consolidation and Ethereum’s exponential rise, create a conducive environment for altcoins to outperform. Additionally, the decreasing Bitcoin dominance further supports the likelihood of an impending altcoin season.</p>
<p style="text-align: justify">As of now, Bitcoin is trading at $60,928, with a new resistance level at $62,000. The cryptocurrency has tested this resistance multiple times but has yet to break through it consistently.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/kevin-svenson-predicts-altcoin-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Kevin Svenson Predicts Altcoin Surge</a></h5>

Kevin Svenson Predicts Altcoin Surge

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