{"id":566130,"date":"2021-03-19T12:36:55","date_gmt":"2021-03-19T09:36:55","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=566130"},"modified":"2021-03-19T12:36:55","modified_gmt":"2021-03-19T09:36:55","slug":"altcoin-market-cap-could-grow-by-27000-in-one-year-crypto-analyst","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/altcoin-market-cap-could-grow-by-27000-in-one-year-crypto-analyst\/","title":{"rendered":"Altcoin Market Cap Could Grow by 27,000% in One Year &#8211; Crypto Analyst"},"content":{"rendered":"<p><strong>Summary:<\/strong><\/p>\n<ul>\n<li><strong>The altcoin market cap broke past its 2017 highs in early February to post a high at $684B<\/strong><\/li>\n<li><strong>It retested the 2017 highs as support in late February before taking off again and is currently at $684B<\/strong><\/li>\n<li><strong>According to Rekt Capital, the altcoin market cap could be gearing up for something spectacular based on a similar retest of an old all-time high in late 2016<\/strong><\/li>\n<li><strong>If history repeats itself, the altcoin market cap could grow by 27,000% in one year<\/strong><\/li>\n<\/ul>\n<p>Bitcoin has more or less stolen the spotlight since it broke the crucial $10k ceiling back in July of last year. The King of Crypto has gone on to blast through several resistances including <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-breaks-its-20k-all-time-high-sets-its-eyes-higher\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">$20k<\/a>, $30k, <a href=\"https:\/\/en.ethereumworldnews.com\/50k-is-bitcoins-resistance-in-2021-10k-is-btcs-support-report\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">$50k<\/a> and <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-selling-by-miners-slows-down-54k-and-60k-possible\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">$60k<\/a> to set an all-time high of $61,816 &#8211; Binance rate &#8211; on the 13th of this month.<\/p>\n<h2>Altcoin Market Cap Has Been Growing Alongside Bitcoin<\/h2>\n<p>Unbeknownst to many crypto traders, is that <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/altcoin-news\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">the altcoin market<\/a> capitalization has also been rising from around $137 Billion in July of 2020 to a new all-time high of $684 billion on the 18th of this month.<\/p>\n<p>Along the way, the altcoin market capitalization zoomed past the 2017 all-time high of $473 Billion in early February this year, only to soon retest it at support around the 27th of the same month.<\/p>\n<p>It is with this event that Bitcoin and crypto analyst, Rekt Capital, believes that such a retest of an old-all time high, could cause <a href=\"https:\/\/en.ethereumworldnews.com\/altcoin-market-cap-drops-by-31b-due-to-the-sec-suing-ripple\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">the altcoin market cap<\/a> to grow by thousands of percentage points. Rekt Capital shared his analysis through the following tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The last time Altcoin Market Cap tested old All Time High as support&#8230;<\/p>\n<p>It rallied +27,000% in just over a year<\/p>\n<p>In recent weeks, Altcoin Market Cap has successfully retested its old 2017 highs<\/p>\n<p>And broke to new All Time Highs today<a href=\"https:\/\/twitter.com\/hashtag\/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#cryptocurrency<\/a> <a href=\"https:\/\/t.co\/GeDRLFUUD2\" rel=\"nofollow\">https:\/\/t.co\/GeDRLFUUD2<\/a><\/p>\n<p>&mdash; Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1372517267284619264?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">March 18, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Altcoin Market Cap Could Grow by 27,000% in a Year<\/h2>\n<p>To note is that his analysis is hinged on the altcoin market capitalization retesting an old all-time high in late 2016 as seen in the following chart\u00a0<a href=\"https:\/\/rektcapital.substack.com\/p\/history-has-been-made\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">shared via Substack<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h2><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th.png\"><img class=\"aligncenter size-large wp-image-566132\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th-1024x487.png\" alt=\"\" width=\"1024\" height=\"487\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th-1024x487.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th-300x143.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th-770x367.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th-1536x731.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th-2048x975.png 2048w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th-500x238.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th-240x114.png 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th-717x341.png 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/altcoin-market-cap-March-19th-1347x641.png 1347w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/h2>\n<p>If Rekt Capital&#8217;s scenario plays out, altcoins could be gearing up for a spectacular run that will catch many crypto traders by surprise. In his analysis shared through Substack, Rekt Capital went on to explain that such an upward movement of the altcoin market cap, would take approximately a year to peak.<\/p>\n<blockquote><p>The last time Altcoin Market Cap broke its old All Time Highs was back in late December 2016.<\/p>\n<p>This was when Altcoin Market Cap broke its 2014 highs (red) and spent multiple weeks retesting those highs. And once the retest was successful\u2026<\/p>\n<p>Altcoin Market Cap grew by +27,000% in just over a year.<\/p>\n<p>Today, Altcoin Market Cap has made new All Time Highs after having successfully retested its old 2017 highs (red) as support.<\/p>\n<p>Altcoin Market Cap has fully confirmed a breakout from its multi-year U-Shaped formation.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Summary: The altcoin market cap broke past its 2017 highs in early February to post a high at $684B It retested the 2017 highs as support in late February before taking off again and is currently at $684B According to Rekt Capital, the altcoin market cap could be gearing up for something spectacular based on a similar retest of an old all-time high in late 2016 If history repeats itself, the altcoin market cap could grow by 27,000% in one [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":566134,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[825],"tags":[108252,115,108251,4424,163],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566130"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=566130"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/566134"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=566130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=566130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=566130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}