Today we look at the Total Market Capitalization, as it has broken, and now retesting, the descending resistance trend line from November 10th, 2021. This chart is showing strength for the total market, and not just Bitcoin. The majority of altcoins need to play catch-up with Bitcoin, and some have already moved over the last few weeks.
Once the $2 trillion level has been broken, our first target will be at $2.25T, then $2.5T and the third being $2.75T. These targets are based on support and resistance levels from the past. In order to reach our targets from the current level, it would mean that $250B, $500B and $750B, respectively, would need to enter the market. If this plays out, the money coming into the market would not only result in some great gains in certain coins, but also create an overall change in the sentiment to being extremely bullish.
