Chart of the Day - Tuesday, February 16th, 2021

Today’s Chart of the Day was shared on Twitter by Brian (@alphacharts). Bitcoin hit $50,000 today for the first time! While this is an exciting milestone, there are some other bullish developments in the Crypto market that we want to focus on today. The chart shows the alt-coin market cap over the past four years - so, basically all of the Cryptocurrencies excluding Bitcoin (ticker symbol: Total2 on TradingView). As Brian points out, the alt-coin market cap is just starting to break out of a three-year base. In a comment to The Chart Report, Brian said "Alts are just starting to break out, which tells me the recent Crypto Bull Market probably isn't over just yet. If anything, it looks like it's just starting to heat up. I think we could easily see a scenario where Crypto traders rotate their profits from Bitcoin down the Crypto cap scale into some of the more speculative coins such as Ethereum, Cardano, Polkadot, Litecoin, etc."