XRP, Solana, Cardano, and Shiba Inu Prepare for a $4 Trillion Altcoin Marketquake ⋆ ZyCrypto

advertisement

Altcoins have faced greater turmoil in the cryptocurrency market in the wake of Bitcoin's price decline, resulting in significant losses for many investors. This event is not unexpected, considering that altcoins usually exhibit higher volatility than Bitcoin, resulting in more pronounced price fluctuations.

Against the backdrop of a dovish Federal Reserve and encouraging economic data, analysts are painting a bullish picture for the altcoin market, predicting a rally that could push its valuation to a staggering $4 trillion.

Recent data from the US economy has brought a sense of optimism, complemented by the Federal Reserve's dovish stance and quick interest rate adjustment (QRA). This paved the way for a post-summer altcoin price rally that caught the attention of retail investors looking for big returns.

US economic data and the impact of the Federal Reserve

Market optimism is mainly rooted in recent US economic data, which generally beat expectations, although it showed some weaknesses. For example, non-farm payrolls recorded a net addition of 175,000 jobs, below expectations of 240,000 jobs.

There are now 1.32 job openings per unemployed worker, down significantly from the peak of 2.03, but still slightly above the pre-pandemic high of 1.24 pic.twitter.com/OY0opWzYoZ

— Benjamin Quinn (@intocryptoverse) May 3, 2024

The unemployment rate saw a modest rise to 3.9%, while average hourly earnings on a monthly basis rose just 0.2%, below expectations of 0.3%. These numbers eased concerns about inflation and shaped future expectations for monetary policy.

Advertisement&nbsp

The dovish stance taken by the Federal Reserve and the Treasury Department has led to a significant shift in interest rate expectations. Two-year US bond yields fell from more than 5% to nearly 4.7%, raising doubts about the sustainability of the recent US dollar rally. Investors are recalibrating their expectations for future interest rate cuts, creating a favorable environment for riskier assets like cryptocurrencies.

Technical analysis and market forecast

In an analysis shared on X (formerly Twitter), experienced cryptocurrency analyst Benjamin Cowen surprised the cryptocurrency community with his bleak outlook on altcoins. Based on his assessment of altcoins versus Bitcoin, which indicates weakness against Bitcoin, Cowen expects further declines in the altcoin market.

He attributes this weakness to expected interest rate cuts, pointing to historical patterns where altcoins suffered significant losses against Bitcoin following interest rate cuts in 2019. Cowen notes that history could repeat, leading to a potential 40% decline in ALT/BTC pairs in the coming months.

He stresses that even if the market shows a recovery in the short term, that does not invalidate this prediction. If this scenario plays out, the market capitalization of altcoins, which is currently under $1 trillion, could fall to as much as $600 billion.

In another analysis shared by Ted Bellos on X, the alternate season is about to begin. His technical analysis of the total altcoin market cap reveals an interesting pattern – an inverse head and shoulders formation – that indicates a potential breakout, which could push the market cap of altcoins, Ethereum, Ripple, Cardano, Solana, and Shiba Inu to $4 trillion.

𝗧𝗵𝗲 𝗯𝗶𝗴𝗴𝗲𝘀𝘁 𝗼𝗼𝗻. Total Altcoin MCap is forming an inverse head and shoulder pattern. The hack will send the total #Altcoin MCap to 𝟰 𝘁𝗿𝗶𝗹𝗹𝗶𝗼𝗻. This may take a few months, but believe me,… pic.twitter.com/2BaL4THL2p

— Ted (@TedPillows) May 4, 2024

This scenario, expected to occur over the next few months, indicates significant growth potential in the altcoin market, attracting significant interest from retail investors.

With the convergence of economic data, the Fed's policy stance, and market dynamics, the altcoin market appears poised for a massive rally.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos