The aggregate crypto market capitalization of all digital assets is now at $205 billion which seems like a lot. However, the global stock market is valued at $82.2 trillion in the aggregate which is about 40,000 percent higher than crypto. In the upcoming cryptocurrency news, we take a closer look at the analysis.
With the creation of Bitcoin, the entire industry was spawned and blockchains along with crypto were widely used by individuals around the world, while the nascent market still remains small. As per the eToro senior analyst who is also the founder of quantum Economics Mati Greenspan, the aggregate crypto market is standing at $205 billion which is only 0.25% of the global stock market. The question remains: how can Bitcoin start boosting the market share of stocks and if it can, why is it good?
Bitcoin already had a great decade by surging about thousands of percent since the ‘’IPO.’’ Though some say that the price increase is just starting, according to previous reports, Wences Casares the chief executive of Xapo earlier this year, there was an essay titled ‘’The case for a small allocation to Bitcoin’’ which can sum up most of the topics. The bitcoin adopter who is at the top of the Libra board claimed that while Bitcoin has a 20 percent chance of failure from his perspective saying that it remains an experiment with a 50 percent certainty that the cryptocurrency will succeed beyond the initial predictions.
He also noted that BTC existed for 10 years with zero interruption concerts and that Bitcoin has a rapidly growing user base and an active use cases. Casares adds that if Bitcoin manages to get valued at a drastically higher price than it is now, it could reach up to $1 million per bitcoin. This price prediction would also correlate with one of the $18 trillion market capitalizations for bitcoin alone which means that it would be smaller than global stocks but still significant.
It’s still not clear on what the growth of the altcoin will be but there are many theories. One of the theories believes that the system surrounding fiat money will collapse on itself in the upcoming decades which will lead to ‘’hyperbitcoinization.’’ One of the largest banks in Europe, Deutsche Bank stated that there are a lot of risk factors in the current fiat system and that it is fragile saying that crypto is inevitable and we will see that in 2020.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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