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Altcoins Soar Alongside Bitcoin, Crypto Market Cap Nears $1 Trillion

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Altcoins Soar Alongside Bitcoin, Crypto Market Cap Nears $1 Trillion

Source: CRYPTOCAP-TOTAL on TradingView.com

$1 trillion is a indication that not just Bitcoin, but all crypto is here to stay and might ignite FOMO across altcoins and create the perfect storm situation for a replica of 2017’s alt season. Following that, the next logical target for the crypto market cap, is reaching parity or exceeding gold’s $10 trillion cap. With the digital gold storyline still moving full steam, it might happen sooner than anyone expects.

FEATURED IMAGE FROM DEPOSIT PHOTOS, CHARTS FROM DEPOSIT PHOTOS
Bitcoin price is just under $35,000 and altcoins like Ethereum, Litecoin, and several DeFi tokens are once again heating up. The combined capital pouring in has caused the total crypto market cap in striking distance of $1 trillion. HERE’S WHAT HISTORY SAYS TO EXPECT FROM BITCOIN IN 2021

Thus far, Ethereum has removed and several other altcoins have shown some progress, but analysts are conflicted as to if this should be regarded as a genuine altcoin season or not.
The total crypto market cap is roughly $60 billion off from touching the $1 trillion mark. $1 trillion is just a number, but it’s bound to turn heads across Wall Street, particularly naysayers who have anticipated the asset class as a whole to fail or never catch on.

Once the asset class eventually reaches $1 trillion in value, will the rest of the world of finance eventually start paying attention to more than just Bitcoin?

Even with the price per BTC reaching $35,000, buyers are not batting an eye. Those who might discover the buy-in price for a whole coin too expensive might now be turning toward altcoins looking for the next big thing.
But that could change with the total crypto market cap reaching a pivotal milestone, that could lure institutions from a completely Bitcoin-focused strategy to considering altcoins also.


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BTC dominance, a metric weighing Bitcoin against the rest of the distance by market cap, is currently around 68%. During the last full-blown alt season, dominance dropped all the way to 32%, letting altcoins gain considerable ground. Alts have struggled ever since to regain the attention of investors.

bitcoin altcoins total crypto market cap

Bitcoin Institutional FOMO Takes Top Cryptocurrency Cap To $640 Billion

Bitcoin’s 2020 momentum has now carried over into the new year, and within just six days into 2021, the advantage has added another $6,000 to its price tag. The top cryptocurrency shows no signs of slowing, and its market cap is beginning to grow aggressively as a growing number of capital pours in.

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