October 2024 is expected for a big profit

To date, the total cryptocurrency market capitalization, which includes Bitcoin and all altcoins, has yet to surpass its previous all-time high when adjusted for inflation. The high was around $73,000, which is higher than the previous high of $69,000 last cycle.

For altcoins, similar performance patterns are expected. According to analyst Jeff Seckinger, historically, altcoins tend to break new highs 1,065 days after Bitcoin's last peak. This timeline suggests that we could see altcoin rallies around October 2024. After Bitcoin hit a new all-time high in December 2020, altcoins took some time before starting their own rally.

Market Levels and Altcoin Performance

Step One: Following market lows, Bitcoin often leads the rally as it recovers early. As investors begin to see profits, capital will begin to flow into Ethereum and other major altcoins.

Phase Two: This phase corresponds to the event that occurred (periodic reduction of Bitcoin block rewards) during which Bitcoin continues to dominate. However, the excitement around altcoins builds, and investments flow into large-cap altcoins.

Step Three: As the market matures, Bitcoin's dominance may diminish. This phase often sees Bitcoin prices flirt or reach new all-time highs. Historical data shows that Bitcoin approaches or surpasses previous highs before a phase three broad altcoin rally begins.

Stage Four: This stage, which occurs after the event, often sees explosive growth in altcoins. As capital flows from Bitcoin and large-cap altcoins into these high-risk, high-reward assets, investors will begin to see significant returns from small-cap and newer altcoins.

Dominance of Bitcoin:

Bitcoin's dominance is measured at between 55% and 60% compared to the total cryptocurrency market percentage. In the year It is expected to decrease to about 58% by the end of 2024. This discount represents the shift of capital to altcoins.