Crypto Expert Predicts Major Altcoin Season As Market Cap Eyes Record Levels
Market expert Lark Davis asserts that the altcoin season is not over, despite recent market corrections. The total altcoin market capitalization is approximately $1.05 trillion, close to its previous high of $1.13 trillion from November 2021. A similar situation occurred in February 2021, leading to a significant increase in altcoin value. Davis predicts that surpassing the $1.13 trillion mark could trigger one of the largest altcoin seasons in cryptocurrency history. Crypto analyst Miles Deutscher supports this view, noting that historical patterns indicate distinct altcoin seasons. Ethereum has historically outperformed Bitcoin from January to May, averaging 28% monthly returns during this period. As Bitcoin's performance improves, capital is likely to flow into Ethereum and other altcoins, reflecting trends seen in past altcoin seasons. Currently, Ethereum is trading at $3,686, down 4.4% in the last 24 hours and nearly 6% over the week.
