The altcoin market has been experiencing a rollercoaster ride, with prices fluctuating rapidly. However, according to popular analyst Benjamin Cowen, the altcoin rally may not happen anytime soon. In fact, he predicts that it won't occur until February 2025, citing historical patterns and the lack of liquidity in the market.

Cowen believes that the recent bounceback in altcoins is not a sign of a sustained rally. He points out that the ALT/BTC pairs have not bottomed out yet and are still above their long-term lows. He also notes that the Bitcoin dominance has not peaked, despite predictions to the contrary. In fact, he expects Bitcoin dominance to continue growing until the Federal Reserve announces rate cuts.

The analyst also draws parallels with the 2019 market, where the ALT/BTC pairs experienced a breakdown before the Federal Reserve rate cuts. He suggests that the current market is following a similar pattern, with the ALT/BTC pairs likely to continue bleeding until the Fed announces rate cuts. This, he believes, will happen in 2025, not in 2024.

Cowen's predictions are based on historical cycles, which indicate that significant bullish movements in the ALT/BTC pairs occur in post-halving years. Since the next halving is expected in 2025, he believes that the altcoin rally will begin then. However, he also notes that liquidity is likely to remain tight until then, making it difficult for altcoins to sustain a rally.

In conclusion, Benjamin Cowen's predictions suggest that the altcoin rally is unlikely to happen before 2025. His analysis is based on historical patterns and market trends, which indicate that the current market is not yet ready for a sustained altcoin rally. While this may be disappointing news for altcoin enthusiasts, it's essential to remember that the cryptocurrency market is highly volatile, and predictions can change rapidly.