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.