Lately, I've been following the Market Cap chart. I think we have some new data that should be remarked. On May 6, 2017, the total Market Cap was about 45 billion dollars. Today, after a year, the total Market Cap is $ 469 billion. More specifically, an increase of ten times. Let's not forget that on January 7, 2018, there was a maximum market cap of $ 828 billion.
For example, you have an image below. It seems that Market Cap's bottom point was this year on April 1 and was $ 245 billion.
What do all these data tell us? As you can see on the image in the $ 500 billion area, there is a potential area of resistance. Let's not forget that the $ 500 billion figure is a psychological area (round number). Besides this, the previous maximum (after declining market) is 500 billion dollars.
A break up of the $ 500 billion area will be a powerful signal for many investors.
Exceeding this value and maintaining this value will create the premise for a climb to the previous ATH of $ 828 billion. Will this happen? Undoubtedly, the 500 billion dollar resistance area will be overcome. I doubt there will be an upward break up without first having a correction.
Of course, overtaking this area and climbing to the previous ATH from $ 828 billion will mean, implicitly, an increase in current prices across the entire Crypto Market.
