Can Cryptocurrency Market Reach $ 10 trillion by 2023?
2 min read
Cryptoanalyst Benjamin Cowen on his YouTube channel considered the overall market limit in the next few years. Based on his analysis, he believes the total market limit for cryptocurrencies could reach $ 10 trillion over the next few years.
To the moon
In his video, Cowen arranged the total market capitalization by 2024 using a logarithmic regression band (range of values) to which the cryptocurrency market could decline without inflation.
In 2017-2018, the total market capitalization of cryptocurrencies was very close to $ 1 trillion. Since then, however, it has been slowly returning to around $ 246 billion at the time of writing.
Assuming a similar trend continues, we can estimate the potential level for the next bull run. According to Cowen, touching the $ 10 trillion threshold could happen as early as 2022. By then, however, many variables can happen that may come sooner or later.
Bitcoin on $ 100 trillion
PlanB analyst is known in the cryptocommunity for his predictions for the currently most important cryptocurrency in the world. Last June, he posted a chart on his Twitter that shows commodities that will attack $ 100 trillion in the future.
#Bitcoin aiming for 100trillionUSD (after 2028)?!
— PlanB (@100trillionUSD) June 6, 2019
All physical commodities are nicely lined up on the stock-to-flow / market value grid. I added diamonds (S2F19, market value $1.5trn). Bitcoin seems to grow towards the 1 free spot on the S2F periodic table ? pic.twitter.com/OZdEz72U8E
According to him, the market ceiling of Bitcoin could reach $ 100 trillion, which is much higher than predicted by Benjamin Cowen in his YouTube video.
Summary
Given the current bitcoin dominance (at a market mark of $ 10 trillion), the price per BTC coin would be $ 330,000, which is very positive news.
Video of Benjamin Cowen
