Altcoins just repeated a move that could launch them 27,000% higher in 2021
While bitcoin has been making headlines, the vast majority of altcoins have been quietly performing a repeat of a move that could make them 27,000% gains in 2021. (Note: if the altcoin you’re writing about is Bitcoin, you can replace altcoins with bitcoin) We saw this move in 2012, when the altcoins made similar gains, before collapsing. Then, in 2017, the exact same thing happened, and the altcoins this time are up more than 7,000%. Going forward, I believe we’re going to see a repeat of the exact same pattern, which will see altcoins soar to new highs, before crashing to lows.
The altcoin markets repeated a move that could launch them 27,000% higher in 2021, according to an analyst. The move happened when the likes of ether, bitcoin cash, ripple, and litecoin failed to follow bitcoin higher during a recent rally. If history repeats itself, the altcoins’ underperformance could signal another huge rally.
Altcoins have made huge gains this year, but if they repeat their gains of 2017, Hodler can expect a crazy moon trip of 27,000%.
According to popular trader Rekt Capital, these are the potential total returns for altcoin investors if history repeats itself this year.
One trader sees just the beginning for altcoins 2021
In his tweet of the 3rd. May, Rekt Capital noted that altcoin market capitalization reversed the previous cycle high and became favorable in early 2017. This peak was reached at the end of 2013 and ushered in a new low for market capitalization, which topped out at 27,623%.
It has only taken a year, and Rekt Capital has suggested that, while almost unimaginable, it could succeed by the end of 2021. In the last two months alone, Altcoin’s market capitalization has risen 119%, after reversing its 2017 peak to support it.
How much would the altcoin market be worth if it achieved 27.623% of its growth in 2017? 152.6 trillion dollars.
This is just the beginning, he noted.
Annotated chart of the growth of the altcoin market. Source: Rekt Capital/Twitter
Bitcoin shows growth despite its ownrally
The data comes as the largest altcoin, Ether (ETH), is in its third day of trading. May was the talk of the day as it broke through the $3,000 mark and reached staggering new all-time highs.
According to Cointelegraph, Bitcoin (BTC) is showing relatively little growth, rising about 11% in the past week, compared to 28% for Ether.
Line chartBTC/USD vs ETH/USD. Source: View of the shop