Top Crypto Investor Predicts Altcoins Surge in January 2024

Adekunle Joshua
5 Min Read

Key Insights

  •  CEO of BKCM, Brian Kelly predicts that altcoins will rally in January, after Bitcoin’s current surge.
  • Ethereum, Solana, Cardano, and Polkadot may be the best-performing projects when this happens.
  • The current “macroeconomic tailwind” favors risk assets like bitcoin and Gold, Kelly says.
  • Bitcoin will surge again, after the halving in April 2024

Bitcoin has been performing very well as of late. The cryptocurrency has managed to break above the $43 resistance and is a market leader indeed.

Bitcoin has even broken the market caps of several major companies including Meta, Berkshire Hathaway and Tesla, and is poised to beat Nvidia’s very soon.

However, it has failed to drag most of the altcoins along with it.

The altcoin season indexâ 
The altcoin season index | Source: Blockchaincenter

According to data from Blockchain Center, we are more inclined towards a Bitcoin season than an altcoin season.

However, Brian Kelly believes that this might be about to change.

An Incoming Altcoin Season

Brian Kelly, the founder and CEO of BKCM, was interviewed on CNBC’s Fast Money.

In this interview, Kelly shared a few insights as to the fate of altcoins. According to the CEO, he expects a full launch into an altcoin season in January 2024, after Bitcoin’s rally.

According to Kelly, altcoins typically pick up speed a month after bitcoin moves. This might be due to investors taking profits on Bitcoin, and then diversifying their portfolios by buying the altcoins.

“We saw Ethereum breakout [Sunday] night and then Solana and then it starts to go down the list and so that’s what I would anticipate. Let’s call it January or so.”

This pattern, Kelly explains, has been observed in previous bull cycles when Bitcoin would lead the way and then the altcoins would follow suit.

In particular, Kelly mentions the likes of Ethereum, Solana, Cardano and Polkadot as likely candidates for a potential rally.

He describes them as “some of the most popular and innovative platforms in the crypto space”

The Macro Tailwind

According to Kelly, crypto is currently rallying because of a â€œmacroeconomic tailwind” that is favouring risk assets like Bitcoin.

Kelly posits that the changing liquidity conditions around the world are changing, as the FED and other agencies continue to ease their monetary policies and interest rates.

“The Fed’s probably done. Europe has got a real problem on their hands. China’s got a massive problem on their hands, and Japan is unlikely to tighten. So when I look at global liquidity, I think, Yeah, gold, Bitcoin, both of them are going to do well in this environment.”

According to Kelly, this kind of environment makes things easier for crypto and gold to do very well as a hedge against inflation.

The Halving Effect

Finally, Kelly predicted that just as Bitcoin has always done after each halving event, the cryptocurrency will enter a rally after April 2024.

The halving of Bitcoin’s block rewards is expected to significantly change the supply and demand dynamics of Bitcoin. Cryptocurrency will become more scarce, and with this scarcity, price surges will follow.

“What we’ve seen historically is that the 12 to 16 months after a halving is the best performance of Bitcoin.

But what it does is make Bitcoin more scarce than gold. So for the first time in history, you have an asset that is more scarce than gold.”

According to Kelly, this scarcity factor could drive the price of Bitcoin to new heights, as demand explodes from both institutional and retail investors.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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My passion lies in crafting compelling content that educates and engages audiences in the dynamic world of crypto and blockchain. With extensive experience in technical writing, I've helped numerous founders, investors, and startups achieve their goals. My expertise extends beyond just crypto, encompassing finance, marketing, and new-age technologies like AI and Cloud.
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