Glassnode Co-Founders Predict Altcoin Market Cap to Surge by 350% Following Recent Correction
The altcoin market is poised for a massive surge, with Glassnode co-founders Jan Happel and Yann Allemann predicting a 350% increase in market cap following a recent correction. Drawing on the Elliott Wave theory, the analysts see similarities to the market structure of 2021, suggesting a strong rally is on the horizon.
One key factor driving this bullish outlook is the weakening US dollar index, which could fuel a renewed bull market for Bitcoin. Additionally, the founders believe that spot BTC exchange-traded funds (ETFs) could act as catalysts for both short-term price movements and long-term shifts in investment behavior.
While Bitcoin is currently trading at $66,434, slightly down in the last 24 hours, the overall sentiment remains positive for altcoins. Investors are advised to conduct their own research before making any high-risk investments in the cryptocurrency market.
Stay informed with The Daily Hodl for the latest updates on price action and market trends. Follow us on Twitter, Facebook, and Telegram for real-time news and analysis.
