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 altcoin market cap flipped its previous cycle high to support. This 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.
All it took was a single year, and Rekt Capital suggests 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%