A popular market analyst known for its appropriate crypto calls indicates that altcoin astronomical gains on the last cycle will probably never happen.
The pseudonym trader Pentoshi said to its 858,600 subscribers on the social media platform X than Altcoins now have less potential to print the same level of earnings observed in 2017-2021 because the market has widened considerably and total market capitalization started at a much higher level this cycle.
“Well, some updated thoughts. I think that for the alts, we will never see a race again like 2017-2021. But I also said that before this race. The space is far too big now, with hundreds of millions of people, while there, we really started at 0 for DEFI (decentralized finance) and in 2017, all the combined alts were $ 13 billion. We have just started on such a high floor. »»
He also says that the robotics and artificial intelligence sector (AI) can start to dominate the interests of investors to the detriment of the alts.
“I also believe that the next bubble will not even be in crypto. It will probably be in robotics / AI. 50% of world GDP is work, an annual market of 50 billions of dollars … These areas are moving at lightning speed and probably have the most allowances. Of course, there will be great opportunities here, much of this will also end in public service. I think the same is too extractive, and although people call a utility a meme, they have resisted the test of time. »»
However, the veteran merchant says that there is still the potential of this cycle for the total market capitalization of cryptography at around 4.4 billions of dollars. The total market capitalization of cryptography is 2.97 billions of dollars at the time of the editorial staff, down 8.9% in the last 24 hours.
“It’s just a mature market, and most of us. We arrived early enough and were able to capture the huge advantage. It is simply not realistic to expect the cycles of the past, because the returns ultimately would be smoothed. It couldn’t last forever. It takes much more now to move the capital than before.
I did not expect anything to save this cycle, my expectations for the alts were perhaps 2x the previous summits and for the total (cryptographic market capitalization) to reach around 4.4 billions of dollars, which was a fairly conservative estimate. We can still get there again. But I think we have to define realistic expectations for alts in general and the market. »»
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