MARKET CAP ABOVE $500 BILLION
Last December, the crypto market reached a peak of $830 Billion a couple weeks after Bitcoin hit an all-time high of almost $20,000. The funds were moved from BTC into altcoins and the result was a very profitable alt bull run. But the market could not sustain this kind of unnatural growth and the result was a 70% price correction for Bitcoin and the market cap dropped under $300 Million.
But now, the money is returning and the price of BTC and altcoins are responding positively to the infusion of funds. Although $11,000 - $12,000 is a target price, the biggest factor is the market cap and a continual rise. If we see money continuing to grow the cap, the market as a whole will respond positively. Keep an eye on the Mcap.