Altcoins - Market Cap Analysis
Now, 2 years later, Alts market cap is getting close to a double support: a first one ascending since 2015 who have not been broken since then. The second one is horizontal, who was first a resistance back in July 2017 and became a support in December 2018 and again now in march 2020.
We can also see a descending triangle shaped by a 2 years resistance, which is a sign.
Now I see two scenarios:
- A breakout below the two supports would mean the Bitcoin maximalists were right and altcoins could not find enough use cases to exist at the side of Bitcoin
- A breakout above the resistance, and a new altcoins cycle.
What do you think?