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 <p class="is-style-lead">Popular crypto analyst @Mags shared with his subscribers his views on the current state of the altcoin market and its prospects.</p>
 <p>The expert put forward a bold forecast for the capitalization of the altcoin <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> and expects that in the coming months, the value of most cryptocurrencies will move along a <a rel="noopener noreferrer nofollow" title="parabolic" href="https://thebittimes.com/tag/parabolic.html">parabolic</a> trajectory.</p>
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    <p lang="en" dir="ltr">#Bitcoin is following Wyckoff's Price Cycle ️<br><br>The Cycle consist's of several Distribution phase followed by Mark down &amp; ends with an accumulation phase.<br><br>Looks like $BTC is currently in an accumulation phase with a Bear Trap <br><br>RT APPRECIATED #Crypto #BTC pic.twitter.com/PiXnGrUjsM</p>— Mags (@thescalpingpro) November 18, 2022
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 <p>The crypto <a rel="noopener noreferrer nofollow" title="analyst" href="https://thebittimes.com/tag/analyst.html">analyst</a>’s argument favoring the bullish scenario is based on the Moving Average Convergence/Divergence (MACD) indicator on the monthly timeframe.</p>
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 <p>@Mags&nbsp;noted that a similar situation occurred in 2020. Then, the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> capitalization of altcoins soared by more than 2000%, from $85b to $1.73 trillion. If the MACD cross forms again, the expert expects a similar movement.</p>
 <p>As a more realistic scenario, the cryptanalyst suggested that in 2025, the altcoin market will reach $7 trillion. This represents an increase of approximately 1,000% from the current figure of $637b.</p>
 <p>Over the past month, Bitcoin (BTC) has risen 27% to $37,200 at the time of writing. The altcoin <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> followed the same trend. The top 10 cryptocurrencies by <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> capitalization also found themselves in the green zone over the past month.</p>
 <p>The excitement around the cryptocurrency market does not subside as the BTC halving approaches, as well as the anticipation of a decision on applications for spot Bitcoin ETFs in the United States.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/altcoin-market-on-brink-of-parabolic-growth-analyst-predicts-tbt70926.html">https://thebittimes.com/altcoin-market-on-brink-of-parabolic-growth-analyst-predicts-tbt70926.html</a></p>

Altcoin market on brink of parabolic growth, analyst predicts

TheBitTimes

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