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$100 Trillion Market Cap for Cryptocurrency Will Be a Reality: Analyst
Leading financial analyst Raoul Pal gave an assessment bold prediction for the future of the cryptocurrency market. He predicted that the cryptocurrency market would grow in the coming years, leading to a market capitalization worth trillions.
During an analysis on “The Everything Code,” Pal gave a bold prediction explaining that the cryptocurrency market will reach a market capitalization of $100 trillion.
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The analyst explained the macroeconomic trends that have shaped the global financial sector since the 2008 crisis. According to Pal, every down cycle pushes technology stocks first as they are instrumental in shaping the future of the markets. He said that cryptocurrencies are technology-based and the next recession will push them to new heights after the recovery.
One expert predicts a cryptocurrency market capitalization of $100 trillion
Pal backed observations that the tech sector makes more money after a market crash. He explained that the cryptocurrency market is the first to benefit from a recession because its technology is new and unexplored.
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The expert predicted that if the cryptocurrency market reaches a market capitalization of $2.5 trillion, the next stop will be $100 trillion. Pal confirmed his prediction using Metcalfe’s law fueling unprecedented levels of adoption.
According to him, the market will undergo massive adoption after the next recession which will push it to new highs. Chris Burniske, former head of ARK Invest, also agreed with Raoul Pal’s bold and bullish predictions. Burniske said he would not rule out Pal’s remarks since a $100 trillion market cap is possible for the cryptocurrency.
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Cathie Wood of ARK Invest also firmly believes that Bitcoin could reach $1 million in the next few years. If this happens, the overall cryptocurrency market will experience a boom, leading several altcoins to hit new highs in the charts. In conclusion, key industry insiders believe the stage is being set for the market to surge.