Can the Crypto Industry Market Cap Reach $20 Trillion in 20 Years?
Some “experts” seem to think so. Even though bitcoin is almost 10 years old, the cryptocurrency has shown no sign of waning in its popularity and market dominance. If anything, it does appear to be growing in spite of all odds.
While bitcoin currently controls over 50 percent of the industry’s market cap, there are crypto and financial experts who believe it won’t remain that way. They’re saying that we’ll see an increased market dominance from other cryptos –particularly ethereum and Ripple– over the next decade.
This opinion was made known by deVere’s CEO, Nigel Green. He believes that bitcoin’s popularity will decrease over the next 10 years, while the market itself experiences tremendous growth of up to 5000 percent. This growth will effectively put the market on a fast track to the 20 trillion dollar valuation over the next two decades.
“It all began with Bitcoin. However, whilst I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade. This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched – by organizations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market share.”
“The pace of mass adoption will speed-up and the cryptocurrency market cap can reasonably be assumed to reach at least 5000 per cent above its current valuation over the next decade.”
He believes that this will happen courtesy of the growth and popularity of crypto projects with better technology, solutions and adoption. And this might be possible through technologies such as Ethereum and Ripple.
The crypto market cap is currently around $200 billion, which makes the $20 Trillion valuation in 20 years somewhat far fetched. But, if the crypto market has taught us anything, it’s that the market is still capable of incredible growth.
Of course, it’s possible that these “expert” opinions are meant to encourage more investor participation and engender confidence in the market. But, at the end of the day, investors will have to decide if they want to keep playing in the market or not.
So, who knows? We’ll have to wait and see. Until then, all investors will need to hunker down and ride out the current bearish market. For now, investors would do well to be smart and not get carried away by expert opinions on where the market is going. Do your due diligence, and if it truly happens, ride the wave and make your profits.
Do you think the crypto market will become bullish soon? Do you think that renewed investor confidence can help its growth? Heck, do you think it’s possible to see a $20 trillion market valuation by 2038? Tell us in the comments section.