In Two Years The Market Could Be Worth $2 Trillion
Whereas right now, the prices arenât exactly great it doesnât necessarily mean that the market wonât rally soon. A fund manager believes that a rally could see 10x growth could happen in two years if the right conditions are properly met.
Over $200 billion is the price of the current total capitalisation of the cryptocurrency market is way below itâs all-time high when it reached $818 billion on 7th January this year according to data from CoinMarketCap. While previous predictions of a huge market rally after January's massive correction havenât yet materialised market players are still overwhelmingly optimistic that an upturn might happen. The latest market prediction seems to be bolder than the rest.
The co-chief investment officer at Pantera Capital, Joey Krug recently revealed in an interview his views on the major developments in the crypto industry. According to Krug, the market could rally in the next to year, not only recovering from its losses during Januaryâs correction but it has even overtaken the all-time high by a massive margin. Krug predicts that a bull run could bring the marketâs total cap of around $209 billion to the $2 trillion area.
In the interview, Krug said:
âWe could see a rebound before then, but I think thatâs going to be the real catalyst that drives the huge next bull run in my opinion. The crypto space overall [could grow] a good 10x from here.â
But adoption must first pick up for crypto and blockchain before there is any attempt at a rally. He also noted that while numerous decentralised applications are being released recently, most of them donât have any users yet.
Krug said that there are two main things holding back these apps being adopted. One reason is the high cost of converting fiat such as dollar, euros and yens to cryptos. The other reason is scalability, most of these apps arenât scalable which means that consumers are burdened with there transaction speeds being extremely slow considering.
However, Krug did say that these are problems which can be looked into over the course of next year. Pantera Capital is investing in companies and startups that try to solve these problems.
âBut I do think we will see blockchains as fast as VISA or Mastercard within a couple of years.â
What are your thoughts? Let us know what you think down in the comments below!