Crypto market to rise 5,000% by Bitcoin’s 20th anniversary
We can expect to see a significant reduction in Bitcoin’s dominance and influence of the cryptocurrency sector as it enters into its second decade.
In addition, I believe the crypto market will, in all likelihood, grow by a minimum of 5,000 per cent in the next 10 years.
As the 10th anniversary of Bitcoin looms at the end of the month, marking Satoshi Nakamoto’s release of the Bitcoin whitepaper a decade ago, we remember that this is what started the crypto revolution.
Everything began with Bitcoin. This digital currency has fundamentally altered the way the world handles money, makes transactions, manages assets, conducts business amongst other things, permanently.
Naturally, although I don’t want to take anything away from Bitcoin, I am of the opinion that this cryptocurrency’s sway and power over the sector will drastically reduce in its second decade.
The principal reason for this is because as cryptocurrencies become more and more mainstream across the globe, an increasing number of digital assets will be introduced, within both the private and public sectors.
As a result, this will enhance Bitcoin’s competition and impact its share of the market.
Furthermore, Bitcoin could potentially be affected by advanced technology, features and problem-solving solutions that both existing and yet-to-be launched digital currencies could bring.
We’re seeing a continual move away from fiat money, the momentum of which will gather speed over the next 10 years.
As an increasing number of people adopt cryptocurrencies, and the pace at which they do so increases, the digital asset market cap, it can be reasonably assumed, will reach at least 5,000 per cent above its present valuation over the coming decade.
As such, if the crypto market is worth over $400 billion today, within 10 years we could see this valuation hit the $20 trillion mark.
More and more major institutional and retail investors, as well as regulators and financial institutions are recognising and understand that cryptocurrencies, without doubt, are the future of money.
Therefore, the crypto market will have expanded extensively, perhaps beyond all recognition, by the time the first cryptocurrency will be celebrating its 20th anniversary.