The Altcoin market cap has recently shifted gears from its accumulation phase to an “Uptrend”, as declared by Analyst Mags-one of the key personalities in cryptocurrency. According to Mags, this is a possible indication of a big bullish move happening in the market. The previous ATH for Altcoin’s market cap was $1.7 trillion, which is a tremendous opportunity since it now stands at a level 90% below that.
Shedding light on this for clarity. In a previous post, Mags emphasized the early stages of this uptrend, citing similarities with past market cycles. In the previous cycle, after breaking out of the accumulation phase, altcoins reached a peak market cap of $1 trillion, which was 10 times its value before breakout. However, the analyst suggested that even a six-fold increase from current levels would push the total value up to an all-time high of $4 trillion during this cycle alone.
Mags further explained the potential gains that exist within various segments of the Altcoin market. Large-cap coins may rise by 20x; mid-cap ones could go up 50 times higher, while small-cap coins may jump up to a hundredfold increase. In addition, Mags thinks that new alternative cryptocurrencies will outperform old ones; for example, random meme coins featuring dog faces can reach significant popularity as Shiba Inu did during the previous bull runs.
Altcoin Season Analysis
Meanwhile, Moustache, known for its insightful analyses, recently published a thread discussing whether the alternative cryptocurrency market would see another “Altseason,” which is an interval of intense activity and gains that is experienced in this market over the course of a few years. In this regard, Moustache suggests that indicators such as the Gaussian Channel and the Wyckoff Method among others show that the Altcoin market may be at a point of significant upward swing similar to prior cycles but potentially bigger and longer.
Even though there are many technical indicators that have shown bullish signals for altcoins, which include the golden cross on Gooner EMA, MACD (Moving Average Convergence Divergence), and Fibonacci levels, which suggests Altcoin bullish trend. Moustache emphasizes patience is vital because past cycles indicate that the greatest rewards accrue to those who persevere during periods of instability.
Additionally, Ethereum’s movement is closely watched because it tends to be a bellwether for the larger Altcoin market. Following actions similar to those seen in 2020, however, Ethereum’s moves are predicted to have a significant impact on the Altcoin trajectory.
Despite the growing enthusiasm in the cryptocurrency world and analysts advising for a measured pace, it must be noted that big returns could take some time before they are realized. Nevertheless, most of the market indicators point towards a possible major rally in Altcoin market history.