Bitcoin continues to make new all-time highs, with the first, holidays of January 2021, Bitcoin hit a new all-time high: US$ 34,865.00.
Ethereum (ETH), the second largest digital currency in the world, is confidently moving towards its all-time high, which was set in January 2018 and amounted to US$1,400.00.
The total market capitalization of the cryptocurrency market at the end of 2020 amounted to: 775.56 billion US dollars.
The driving forces behind the cryptocurrency rally continue to strengthen against the background; the weakening of the US dollar, the decline in the stock exchange indexes, as well as due to low interest rates, and political uncertainty.
This is very optimistic! The total cryptocurrency market capitalization in 2021 may exceed one (1) trillion US dollars.
It is most likely that 2021 will be the year when the market capitalization of altcoins will also hit its all-time high.
This uptrend is primarily driven by Bitcoin, as its dominance is stable at 70%, and currently 72%. Back in January 2018, as altcoins began to rise and Bitcoin began to shrink its profits, and BTC's dominance fell to an all-time low of 35%.
Traders predict that in 2021, altcoins will also begin to rise as soon as Bitcoin calms down and consolidates, before its next upward surge.
Some altcoins have already started to increase their capitalization.
The market capitalization of all altcoins is: $ 223 billion, but they are still far from their all-time high. The historical maximum of altcoins was recorded in January 2018. Then the capitalization of altcoins was: 547 billion US dollars.
Best Altcoins in 2020: Litecoin (LTC) Polkadot (DOT); Chainlink (LINK).
It is also worth noting the altcoins that have increased their capitalization in the last months of 2020: Theta Token (230%), Zilliqa (172%), Celsius Network (123%) and Nexo (88%).
Also in 2021 in the cryptocurrency market, the volume of sales of digital securities - Security tokens, which initially have security and high capitalization, will increase significantly. And the capitalization of Security tokens will constantly increase as the projects under which they are issued are implemented and the cost of their security grows.
2021 will be the year the altcoin market capitalization hits an all-time high, noted trader Mr. Mikael van de Poppe.