Bitcoin
BTC$42 692.93

-2.10%

Ethereum
ETH$2 955.85

-4.21%

Cardano
ADA$2.16

-4.60%

Tether
USDT$1.000474

-0.01%

Binance Coin
BNB$337.66

-3.90%

XRP
XRP$0.924905

-2.55%

Altcoins just repeated a move that could launch them 27,000% higher in 2021


07 May 2021   #Ethereum

The altcoin market cap has flipped its previous cycle high to support — and the last time that happened, it gained 27,623% in a year. Altcoins have delivered huge gains this year, but if they repeat their 2017 moves, hodlers may be looking at an insane 27,000% moonshot.

According to popular 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

In a tweet on May 3, Rekt Capital noted that at the start of 2017, the market capitalization of altcoins flipped its previous cycle high to support. That high had come in late 2013, and as a new floor level, it launched the market cap to a peak no less than 27,623% above it. All it took was a single year, and Rekt Capital suggested that although almost unimaginable, the same thing could happen by the end of 2021. In the past two months alone, the altcoin market cap is up 119% after flipping that same 2017 peak to support.

How much would an altcoin market be worth were it to reach 27,623% of its 2017 height? A princely $152.6 trillion.

"This is just the beginning," he commented.

Bitcoin gets shown up despite own rally

The figures come as the largest altcoin, Ether (ETH), became a talking point in its own right on May 3, having passed $3,000 to go on to see dizzying new all-time highs. As Cointelegraph reported, Bitcoin (BTC) is comparatively lackluster, managing roughly 11% gains over the past week compared with Ether's 28%.

Many of the other major cap altcoins have also outperformed Bitcoin in terms of weekly gains, with analysts predicting new all-time highs to appear elsewhere. Arguing in defence of BTC, however, fellow analyst Scott Melker looked to higher time frames for signs of a predictable uptick incoming.

"There have been quite a few 'bad' weekly candles on the Bitcoin chart in the past year," he noted.


Related

Ethereum alternatives and layer-1 solutions see steady gains in September
Ethereum price gets back to $3K as institutional investors pile into ETH futures
Derivatives data favors Ethereum bulls even with this week's crash below $3K
Ethereum's spot setup looks grim, but derivatives data tells a different story
Ethereum head & shoulders chart pattern puts ETH price at risk of dropping to $2K
Ethereum options data suggests the battle for $4K ETH is at least a week away
Ethereum price metrics back traders confidence in $3,800 ETH
Ethereum layer-twos reportedly processing more transactions than Bitcoin
Top up with stablecoins at FreshForex

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 78.8% 36 $42 692.93 -2.10% -1.96% $803 819 282 603 $30 748 553 485
2 Ethereum (ETH) ETH Ethereum predictions 73.2% 51 $2 955.85 -4.21% -2.12% $347 903 077 176 $19 101 897 139
3 Cardano (ADA) ADA Cardano predictions 63.2% 75 $2.16 -4.60% 4.25% $69 295 841 075 $3 084 135 333
4 Tether (USDT) USDT Tether predictions 92.8% 1 $1.000474 -0.01% 0.05% $68 575 451 500 $70 240 814 218
5 Binance Coin (BNB) BNB Binance Coin predictions 65.2% 65 $337.66 -3.90% -7.26% $56 773 744 460 $1 538 043 078
6 XRP (XRP) XRP XRP predictions 72.8% 49 $0.924905 -2.55% 0.68% $43 209 372 694 $2 970 626 231
7 Solana (SOL) SOL Solana predictions 67.6% 66 $138.70 0.05% 0.31% $41 252 366 694 $2 837 656 739
8 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $1.000334 0.01% -0.01% $31 130 094 542 $3 148 284 594
9 Polkadot (DOT) DOT Polkadot predictions 68.8% 69 $27.73 -5.72% -2.87% $27 388 621 521 $1 694 336 627
10 Dogecoin (DOGE) DOGE Dogecoin predictions 66.8% 70 $0.200964 -3.44% -4.38% $26 418 834 354 $858 880 050
11 Terra (LUNA) LUNA Terra predictions 68% 60 $37.85 6.16% 36.72% $15 139 928 160 $1 669 613 943
12 Avalanche (AVAX) AVAX Avalanche predictions 60.4% 84 $67.15 -0.78% 13.01% $14 791 554 871 $1 240 824 478
13 UniSwap (UNI) UNI UniSwap predictions 67.6% 70 $22.37 -7.77% 5.86% $13 679 594 706 $1 145 133 068
14 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $1.000184 0% 0.01% $13 517 674 906 $5 035 296 123
15 Chainlink (LINK) LINK Chainlink predictions 64.8% 70 $23.21 -6.39% -2.06% $10 559 720 262 $1 106 271 150

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.