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Cryptocurrency analyst Kevin Svenson is highlighting a potential bullish catalyst for altcoins.
In a new video, Svenson tells his 82,800 YouTube subscribers that an expansion in the global money supply could trigger a rally in altcoins.
According to Svenson, previous altcoin rallies have erupted after an increase in the global money supply.
“Every major bull run for these altcoins… …they really did not start running until global liquidity exploded, you know, went up tremendously…
And what we’ve seen is that until recently global liquidity we were testing the 2022 highs as support just recently… There has been no growth for the M2 (money supply) at all really. But it’s starting to come up… …you can see the M2 is slowly coming up now to a breakout.
And that breakout in global liquidity may be exactly what the altcoins need to start doing something for real.”
Source: Kevin Svenson/YouTube
The crypto analyst says that he sees altcoins replicating the price action they displayed during the rally that occurred in the fourth quarter of 2024. According to Svenson, the market cap of altcoins could go up by around 190% from the current level.
“If you just extrapolate… It would take us up to $730 billion roughly which would be a new all-time high…
That might be a target zone for altcoins and then they could come back to retest the trend line. And maybe go up later it might just be a very steady uptrend where there’s just a lot of profit taking at every new high.”
Source: Kevin Svenson/YouTube
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