Crypto market to grow by 5,000% in the next ten years (but Bitcoin’s influence will drop)

The boss of DeVere is optimistic as to the future of crypto…by Manoj Sharma for CNR

Nigel Green, the CEO of DeVere Group, has argued that the crypto market is likely to grow by over 5,000% in the next 10 years, while the influence of Bitcoin will fall.

The CEO and founder of the international financial consultancy firm, Nigel Green, was speaking ahead of the 10th birthday of Bitcoin on October 31st with International Investment. As part of that chat, he said that “Bitcoin is what kick-started the crypto revolution and it has changed the way the world makes transactions, does business, and manages assets, among other things, forever. It all began with Bitcoin.”

He added that, though the Bitcoin remains the largest by market capitalization, its influence will diminish in the next ten years due to the mass adoption of the crypto market. Not that Bitcoin will disappear, just that it’ll be diluted a little.

He also puts this down to the fact that new cryptocurrencies will be launched by firms in the public and private sector. He said that “the pace of mass adoption will speed up and the cryptocurrency market cap can reasonably be assumed to reach at least 5,000% above its current valuation over the next decade”.

Interestingly, it’s not the only crypto-related prediction he’s been making of late. Nigel Green also made the statement that FOMO (fear of missing out) will drive the price of Bitcoin up. He argued that due to the increasing adoption of cryptocurrency among the general public, the crypto market, including Bitcoin, was “on the verge of a true global breakout.”

Image: BigStock