@edicted was right. April has been nothing more but dull, a month of pullbacks and accumulation and May is already rocking it especially for the altcoins such as ETH. We now have an almost $2.4 trillion total market capitalization and there's definitely still room for the upside.
When I see $ETH valued at $3,288 I find it so hard to believe it was valued at less than $100 just a year ago. What a bargain was it at that time. @tobetada has replied to me on a comment today and he was forecasting that in a few months, probably even weeks, ETH shall be a $5,000 cryptocurrency.
It's already bigger than Mastercard and during this bull market Mars is the limit and not the sky. Bitcoin is loosing dominance more and more and that only points to one thing: altcoins season. We're probably on the cusp of a unbelievable altseason and quite a few of us were waiting for that.
$2.4 trillion is a lot of capital invested in some fancy internet money that's becoming more of a threat for the current financial system. Exactly four years ago the total market capitalization for cryptocurrencies was around $45 billion and it has peaked at around $800 billion. That's almost 20X in nine months.
How long will it take the market to peak and enter a bear market is hard to predict although there are all sort of schemes and forecasts floating around the internet. If the exponential growth pattern of 2017 shall repeat we will have a $40 trillion total market capitalization for crypto by the end of this year.
I doubt that it will happen though, but I easily see at least $10 trillion to be the peak of the bull market. I don't know if BTC will manage to outperform gold and its ten trillion capitalization this year, but the whole market, including alts, will do that.
Such an event will grant crypto much more exposure than any media campaign in the world and everyone and their mother will talk crypto. My mother by the way is sending me all sort of crypto articles she finds on facebook almost on a daily basis which I honestly find quite annoying, but I know we haven't peaked yet, she's not asking for a peak yet.
What's The Total Crypto Market Capitalization Peak This Cycle?
Hmmm, hard to predict. I'd say that something between 10 and 15 trillion. I doubt we will go higher than that and I wouldn't call this bull market a true one with less than 10 trillion. That would be about 12X the previous market cycle peak.
We're already at a quarter of that amount and we're quite far away from the euphoria phase. Hence 10 trillion is quite achievable imo. What's you take, how high the market will peak this cycle?
Thanks for attention,
Adrian
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I would say $5 trillion
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$5 trillion is far an underestimation, in my judgement. If BTC does 2x from here and other cryptos follow, then $5 trillion is only a stone throw away.
So true
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Thanks.
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Quite modest I'd say. That's just 2x from here. Who knows, I might be too optimistic...
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I have had several discussions with people and I've always said $10 trillion at the very least. I also believe that the BTC dominance will be a great indicator. If if calls below 40%, it might be a signal that the time to go home has come, imo. Great article, reblogged.
When the dominance falls bellow 40% it's when I'll call a proper altcoins season.
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why do you think that 15 trillion is the limit? I think 300-500k for bitcoin is a possibility 😎, but it depends on whether we reach 100k in the next weeks
I just can't see past $15 trillion :)
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Put me around 2.6 trillion and I'm going to start feeling a little over bought for the short term. I'd see a pull back if we continue this upward trend like this. What's interesting though is Bitcoins not really moving and instead Ethereum is taking a good front of it right now. With PoS being talked about getting closer and burning fees reducing supply all around I feel like people are betting on that right now for ETH.
If we're overbought at $2.6 trillion then this bull market is a failed one imo...
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Long term you're good like Q1 Q2 next year ETH should be 10k + if things go to plan that is.
Short term though you are going to constantly have those wild bumps. Major rally quick sell off. Too few people hold a majority stake so selling off a chunk is nothing to them for profits.
at the current % of BTC dominance, 10 Trillion in total market cap would mean 240K per bitcoin which is not far from the common more bullish predictions.
I would say the 5 Trillions and so, 120K per Bitcoin is also reasonable
What about the peak of the total crypto market capitalization, where would you see that?
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5 trillion
I'd say above 5 trillion. Maybe 10 trillion at most.
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Thanks for your feedback.
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I'm thinking that we will struggle to get past $5T.
There are a lot more people involved in this bull run that were around for the past one.
Smarter users and less prone to the hype of the last time around. The coins with use case are getting a lot of attention this time around but i'm not seeing as much interest in the absolute shitcoins that were everywhere the last time around.
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No struggle my friend 😁
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