Leading financial analyst Raoul Pal gave a bold prediction for thefuture of the cryptocurrency market.He predicted that the cryptocurrency market would boom in the coming yearsleadingto a market cap worth trillions. <\/p>\n
During an analysis in The Everything Code,Pal gaveouta bold forecast explaining that the cryptocurrency market will gain a market cap of $100 trillion. <\/p>\n
Also Read: Currency: What To Expect From The US Dollar Today <\/p>\n
The analyst explained the macroeconomic trends that shaped the global financial sector after the 2008 crisis. According to Pal, every downward cycle propels technology stocksfirstas they are instrumental in shaping the future of the markets. He cited that cryptocurrencies are technology-based and the next downturn willpropelthem to new heights post-recovery. <\/p>\n
Palunderpinned observationsthat the technology sector gains the most after a market crash. He explained that the cryptocurrency market is the firstin lineto benefit from a downturn as its technology is new and unexplored. <\/p>\n
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Theexpertpredicted that if the cryptocurrency market gains a market cap of $2.5 trillion, the next stop is $100 trillion. Pal backed his prediction using Metcalfes Lawwhichfuels unprecedented levels of adoption. <\/p>\n
According to him, the market will experience massive adoption after the next downturnwhichwill propelit to new highs.Even Chris Burniske, the former head of ARKInvestagreed to Raoul Pals bold and bullish forecast. Burniske said that he will not rule out Pals observations as a $100 trillion market cap for cryptocurrency is possible. <\/p>\n
Also Read: GameStop: GME Forecasted to Reach $86; Heres When <\/p>\n
ARK Invests Cathie Woodalsofirmly believes that Bitcoin could reach $1 million in the coming years. If that happens, the overall cryptocurrency market will boomleadingto several altcoins touching new highs in the charts. In conclusion, top industry insiders believethat thestage for the market to surge isbeing set. <\/p>\n
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\n$100 Trillion Market Cap For Cryptocurrency Will Be a Reality: Analyst - Watcher Guru<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"