Altcoins have made huge strides this year, but if they repeat their steps in 2017, scammers could see a crazy 27,000% moon shot.
According to popular trader Rekt Capital, this is the potential cumulative return for altcoin investors if history repeats itself this year.
Trader sees “just the beginning” of 2021 altcoins
In a tweet on May 3, Rekt Capital indicated that the market capitalization of the previous cycle altcoins turned into support in early 2017. The growth took place at the end of 2013, and as a new floor, the market capitalization climbed to a peak of at least 27,623% higher.
It only took one year and Rekt Capital suggested that while it was almost unimaginable, the same could happen by the end of 2021. In just the past two months, the market value of altcoins has risen by 119% after the change. … Peak user support in 2017.
What would the market value of altcoins be if it hit 27.623% growth in 2017? $ 152.6 trillion.
“This is just the beginning,” he commented.
Notable chart of the rise in altcoin market capitalization. Source: Rekt Capital / Twitter
Bitcoin appears despite its own rally
The numbers come as the largest alternative digital currency, ETH, became the topic of discussion on May 3, surpassing $ 3,000 and continuing to see stunning new highs.
Bitcoin (BTC) is relatively weak, according to Cointelegraph, with about 11% gains over the past week compared to 28% Ether.
Line chart of BTC / USD vs ETH / USD. Source: Tradingview
Several other large-cap digital currencies have also outperformed Bitcoin in terms of weekly gains, as analysts expect new full-time outlets to emerge elsewhere.
He advocates for Bitcoin but, like analyst Scott Melker, has been looking at higher timeframes for expected signs of growth.
He noted that “there have been quite a few ‘bad’ weekly indicators on the bitcoin chart over the past year.
“Each of them was followed by an upward movement to reach new heights.”