We all are wondering what does the future look like for cryptocurrency.
I went and did more research on this topic and this is what I came up with.
Cryptocurrency is already known as the worlds fastest growing asset class, but it is still really small if you would compare it to other global markets. Cryptocurrency market is at a Market Cap of $508 billion at the moment where the global market cap is around $100 trillion worldwide. That just shows how small and new cryptocurrency actually still is.
There are about 60 major stock exchanges in the world with a total value of $69 Trillion.
Asia has 17 of those exchanges and they are valued at $23 Trillion, that makes it 33.3 % of the total.
Europe also has 17 exchanges with a total value of %13.5 Trillion, that only makes 19.5% total.
Africa has as low as 5 exchanges with a total value of %1 Trillion, a poor 1.5% of the total.
North America only has 5 but the total value is $28 Trillion, gives them a 40.6% in total.
North America and Europe both hold 40.6% and 19.5% respectively of the world’s markets, and the vast majority of Asia’s 33.3% lies north of the equator in places like Shenzhen, Hong Kong, Tokyo, and Shanghai.
Some examples of other markets would be :
NYSE, it is $18.5 trillion in market cap and about 27% of the total market for global equities.
NASDAQ, valued around 7 trillion,
TMX group, valued around 2 trillion.
So again it shows really how small cryptocurrency market is at this moment and how I see it how much growth it still can go through.
a Question I see pop up frequently ( Can bitcoin reach 1 million dollars per coin?). Well lets look at that question and analyze if its possible keeping in mind the information I already provided.
There is 16.8 millions bitcoins in circulation at the moment. That means for 1 bitcoin to reach a price of $1 million, Bitcoin's market cap must be $16.8 Trillion.
Do I think bitcoin will reach it one-day? Yes I do by looking at all of the information I gave it just shows how far bitcoin and cryptocurrency still can go and how new and small it still is, all the whole blockchain and bitcoin and cryptocurrency needs is more exposure and global adaption.
I am not a professional advisor so still do your own research.
I would like to hear your thoughts on this so just leave a comment below and if you like what you have read just give an upvote.