If you’re tired of the downbeat, panic-stricken stories about the falling value of Bitcoin and other virtual currencies, then we’re here to help. According to experts, cryptocurrency markets could hit $1 trillion before the end of the year.
To put this in perspective, the market cap recently fell under $400 billion, with Bitcoin falling to $6,000 in turn. That’s since risen a little to $8,387 according to CCN, but that’s nothing compared to the prediction of $50,000.
Thomas Glucksmann, head of APAC business development at Gatecoin , said: “Increasing regulatory recognition of cryptocurrency exchanges, the entrance of institutional capitaland major technology developments will contribute to the market’s rebound and push cryptocurrency prices to all new highs this year.”
Jamie Burke, CEO at VC firm Outlier Ventures, added: “We believe after February the market will likely go on a bull run comparative if not greater than last year potentially reaching the trillion-dollar mark before a proper crypto winter sets in where the market becomes more focused on proper market fundamentals.”