An altcoin season has been in the oven for quite some time now. And the latest breakout of the TOTAL2 chart could be one of the biggest confirmations that 10-100x gains are now closer than ever.
The TOTAL2 chart, also known as the altcoin chart, tracks the total market capitalization of all the cryptos except Bitcoin.
Just yesterday, it created a new all-time high, when it breached the $1.7T mark – its previous ATH that was set way back in November 2021.
Both experts and everyday crypto enthusiasts are now looking at this as the perfect time to stack their portfolios with some low-cap, high-upside altcoins.
Read on as we unpack more details about the upcoming alt season. Plus, we’ll also point you towards the best cryptos to buy right now.
Historical Data Suggests Altcoin Market Cap Could Gain 260%
The last time the TOTAL2 chart broke a major ATH was back in 2021, when it crossed the $475B mark set in 2017. That resulted in a 260% move after the breakout.
And what’s happening right now looks so similar. How? Because this time too we’re breaking a 4-year long ATH.
Merlijn The Trader, a crypto analyst with nearly 394K X followers, highlighted that the current breakout is coming from a long-drawn Cup and Handle pattern.
According to classic technical analysis, we can measure the cup’s width and add that distance to the breakout point to calculate a potential target.
This target comes out to be a whopping $6T, which happens to be a
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Author: Krishi Chowdhary
