Altcoins have delivered huge gains this year, but if they repeat their 2017 moves, hodlers could also be watching an insane 27,000% hike.
In line with the renowned trader Rekt Capital, those are the potential combined returns for altcoin investors if history repeats itself this year.
One trader sees “just the beginning” for altcoins’ 2021. Within an official tweet on 3rd May, Rekt Capital outlined that at the beginning of 2017, the market capitalization of altcoins flipped its earlier cycle high to support. That peak had come in late 2013, and as a new floor level, it launched the market cap to a peak no less than 27,623% over it.
All it took was one year, and Rekt Capital suggested that although almost unimaginable, the same thing might also happen by the end of this year. Within the past two months alone, the altcoin market cap is up 119% after flipping the very same 2017 peak to support.
How much would an altcoin market be worth were it to succeed in 27,623% of its 2017 height? A princely $152.6 trillion.
“This is simply, just a start,” he explaining.