Hello my fellow bloggers! Crypto market touched $2 trillion market cap recently. What does it mean for Bitcoin and altcoins? Let’s dive in and investigate!
Source
In the previous bullrun we didn’t even touch $1 trillion mark. Now we are at the edge of crossing $2 trillion market cap. This sets a very important marker. Think about it. It took 10 years for crypto market to reach $1 trillion market size. It took just 90 days to get from 1 to 2 trillion. Does it mean we can get to $4 trillion market cap just in 45 days? I guess we will find out this soon.
How big is this number? What it looks like when you compare $2 trillion to a banking/financial sector? The closest comparison is the entire US banks market value tracked by S&P index. See the chart below. It seems yesterday crypto has surpassed the entire banking system of USA in value (combined value of all stocks issues by banks). Bitcoin and altcoins are here to replace legacy finance system and help it to evolve into something bigger. This is truly symbolic the total value of all coins and token is now the same size as all bank of the first world economy. What will be the next stop?
Source
The next stop is to get above $4 trillion market cap. This will allow crypto market to surpass the entire US financial sector. As we discussed in the beginning of this post, it can take less than 90 days to get us there. Just think about it. Combined value of all US banks, brokers, insurance and all other financial companies can be smaller than crypto market in just a couple month. This market is not even regulated and some people still claim Bitcoin value is zero and soon the market will crash forever. Bitcoin can’t be ignored and should be taken seriously.
Source
If we go 4x from current market size to $8 trillion, we can reach the size if entire world financial index. In other words, if Bitcoin goes 4x from current price crypto world will be bigger than traditional finance. If somebody told me this 4 years ago in 2017, I would just laugh and call such person a religious fanatic that lost his soul for Bitcoin. Yet it seems there is no such word as “impossible” in crypto land. Can we get there in this bullrun? I don’t think so. We are not ready yet. We will still lay the foundation of this bright future in 2021. This is just another remainder how luck are we to be among early adopters of crypto.
Other articles you might enjoy
No one believes Bitcoin price is fair
Bitcoin achievement nobody is talking about
Grayscale celebrates the start of Altcoin Season with several buys
Sometimes we underestimate how things could change
The week of a whale or how to behave during market deep
Disclaimer
I’m not a financial of any kind. I encourage you to check all information yourself and make decision only based on your own opinion. All articles are created for solely entertainment purpose.
If you like this post please vote for it and follow my blog. Feel free to share your thoughts in comment section.