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Mags X, a popular analyst in the cryptocurrency world, made significant evaluations. The analyst predicted that a parabolic rally will happen very soon. According to the analyst, the MACD indicator indicates this situation. The same metric showed itself in 2020 and indicated a 2,100% increase. A similar stage is now happening. If it gives the same result, a parabolic rally may be on the horizon for altcoins.
Sign of Rally in the Altcoin Market: A Familiar Pattern
The altcoin market shows signs of potential upward momentum as the Monthly MACD metric approaches an increasing trend. Let’s remember that the MACD indicator is a trend follower and a momentum indicator that shows the relationship between two different moving averages. Analyst Mags says that this indicator pointed to a similar situation in 2020.
According to the analyst, this situation is quite meaningful. Because significant increases were experienced in the altcoin market due to the upward trend indicated by the MACD indicator in 2020. The total value of the altcoin market increased from 85 billion dollars to 1.73 trillion dollars with a parabolic increase. The percentage increase was staggering, indicating a 2,100% increase. The analyst emphasized that the same situation could occur again.
Repeating the Current Altcoin Market Value Scenario
Currently, the total market value of altcoins is at the level of 650 billion dollars. Even compared to the past, this figure is at a very high level. If history repeats itself and the sign indicated by the MACD indicator is correct, the result of a parabolic rally will be exciting. According to analyst Mags, if it repeats even half of the growth in 2020, we may be looking at a fluctuation that will increase the market value to an impressive 7 trillion dollars in the coming years.
An important point highlighted by analyst Mags is also the answer to the question of whether a parabolic rally will occur for altcoins. As a result, altcoin investors pay special attention to the narratives of similar situations in the past while preparing for a potential altcoin rally. It is also important to emphasize that each statement instills hope. Analyst Mags may have wanted to emphasize that the dynamic nature of the cryptocurrency market can provide exciting opportunities due to price fluctuations. Our focus will now be on the MACD indicator for important information on the future course of the altcoin market in the coming months.
