Here we examine the Total Crypto Market Cap excluding BTC. This shows us the market cap of all cryptocurrencies alternative to BTC. This is an important chart as it gives us an idea of when we might see a mini "altseason". Let me stress that altcoins can be extremely volatile in periods of sideways chop for BTC, but if we are expecting BTC to go up (as stated in my last BTC post" we could see a bid on alts as well.
Right now Alts are at critical support around $560 billion. If this level is lost, alts can lose up to $130 billion as they would be set to test their lows around $430 billion. If alts are to hold this level of market cap then alts could gain around $140 billion bringing us to a $700 billion marketcap (+24%) across altcoins.
Right now Alts are at critical support around $560 billion. If this level is lost, alts can lose up to $130 billion as they would be set to test their lows around $430 billion. If alts are to hold this level of market cap then alts could gain around $140 billion bringing us to a $700 billion marketcap (+24%) across altcoins.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.