ICOBox Blockchain Research Center (IBRC) Experts See $1.2 Trillion Bitcoin-Led Crypto Asset Market Cap
According to experts from ICOBox’s Blockchain Research Center (IBRC), the cryptocurrency market has the capacity of reaching a value of $1.2 trillion USD over the next few years. After following the recommendations of many international regulators and banks, the group was able to set up this value.
It was also used information from the Swiss Financial Market Supervisory Authority (FINMA), which defined that a bank’s capital should not be made of over 4% in cryptos. Considering that Switzerland is a very stable country and that it aims to become a crypto authority over time, the approach of the FINMA may become a standard over time.
By using the standards of the FINMA and a deep research of the market, the ICObox’s Blockchain Research Center reached this number. They also relied on the annual rating for the 100 largest banking institutions in the world.
Another measure that was used to determine how big the market can get was to analyze the numbers of many international credit organizations located in places that have an interest in the crypto market. These places were mostly developed countries like the United States, Australia, Japan,Switzerland and South Korea.
They arrived at the number of $30 trillion USD by using the numbers of all these different institutions, but you should remember that they should not pass the number of 4% determined by the FINMA, so this means that the crypto market would have the size of $1.214 trillion USD.
Numbers Do Not Include China
Something that may let crypto investors happy is that these numbers do not incorporate China, the second largest economy in the world. The first four banks in the ranking are Chinese but the authorities have been extremely hostile to cryptocurrencies and fundraising avenues such as Initial Coin Offerings (ICOs), so they decided to leave China out of the equation.
It is important to notice, though, that if China would have not been left out of the equation, the numbers would be far higher than they are now. This means that the future of cryptocurrencies can be even more golden that this prediction, which is already fairly great.
From $223 Billion To $1.2 Trillion USD
After the bear market trend and all the issues that it has caused, the crypto market today is only worth $223 Billion USD. However, the study affirms that this amount could be six times higher in about two to five years if the banks absorb Bitcoin and the other cryptos and really started to use them.
According to Anar Babaev, the co-founder and partner of ICOBox, it would be the “Second Coming of Bitcoin if all the banks in the world decided to keep 4% of its assets in the form of cryptos.”
Some other factors that were pointed as factors which may give some momentum for the crypto industry in the near future were probable to impact the industry. The institutional investors, which are eyeing the market but at the time have not invested a lot are some of the most powerful players that could be positive for the market.
The Bitcoin ETF would also be very important for the development of Bitcoin and Security Token Offerings, which would be more regulated, could also benefit the investors.
If the market is more sophisticated and safe, there is a good chance that the investors will come back and cryptos will start to grow once more.