“The value of the altcoin market may increase by 27 thousand percent this year”

Altcoins have increased significantly this year, but if they repeat their moves in 2017, this increase in value can be up to 27 thousand percent.

Popular investor Rekt Capital suggested that altcoin investors could generate these returns if history repeats this year.

Altcoin season is just beginning

Rekt Capital, In his post dated May 3 He announced at the beginning of 2017 that the market cap of altcoins had turned the peak of the previous cycle into support. This peak was seen in late 2013, and the altcoin market gained 27,623 percent after converting to support.

This increase in value happened in just one year, and Rekt Capital thinks that while it may seem impossible, the same can happen until the end of 2021. The altcoin market has gained 119 percent in the past two months after turning its 2017 peak into support.

So where will the value of the altcoin market reach if it gains 27,623 percent from its peak in 2017? The answer is $ 152.6 trillion.

“This is just the beginning,” Rekt Capital summed up the situation.

Graph of the market value of altcoins. Source: Rekt Capital / Twitter

On the other hand, the biggest altcoin Ether (ETH) was on the agenda, breaking a record on May 3 and surpassing $ 3,000.

Ether gained 28 percent over the week, while Bitcoin (BTC) rose about 11 percent over the same period.

Line chart of BTC / USD and ETH / USD pairs. Source: Tradingview

Many other altcoins also surpassed Bitcoin in terms of weekly performance.

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