Markets
“Crypto Market Is Ready To Take Off Anytime:” $10 Trillion Market Cap, When?
- Major cryptocurrencies and memecoins have been driving the current uptrend, with Bitcoin approaching $62,000.
- Experts predict that the crypto market could reach up to $100 trillion.
The past week has been a roller coaster for cryptocurrency marketstarting with the first presidential debatewhich had a positive impact on the market, even though neither candidate directly discussed crypto.
Then there was the SEC, which suffered setbacks in various legal battles, including cases against Consensys, Binance [BNB]And Ripple [XRP].
Additionally, there is constant buzz around the potential approval of a Ethereum ETF and recent filings by two asset managers for a Solana ETF.
YouTuber Scott Melker better to say it when he said it,
“This has been one of those weeks where a decade goes by in one week.”
Good day for the crypto market!
Since July 1, the cryptocurrency market has gone completely green, with daily increases of over 2% on many coins. Bitcoin [BTC]the leading cryptocurrency, rose 2% in the last 24 hours, closing in on the $62,000 mark.
Commenting on this push, And Tapierofounder of 1Roundtable Partners, shared his insights in a recent episode of “The Wolf of All Streets” podcast, saying:
“I think there are a lot of Bitcoin holders who own Bitcoins, and they will benefit from that. And I definitely see us going north to around $150,000 on this run, probably in the next 18 months. »
Tapiero initially predicted that the cryptocurrency market could reach a total market capitalization of $10 trillion. However, due to recent developments and rapid growth in the sector, it has significantly revised its estimate.
Today, he estimates that the market could potentially reach $30 trillion, $70 trillion, or even $100 trillion in the future.
He also mentioned that within 18 to 24 months, the market could realistically reach the $10 trillion mark.
This was confirmed by CoinGecko recent message from X (formerly Twitter), which noted:
“Total #crypto market cap is up 4% to $2,460,000 today as #Bitcoin reclaims $63,000. Are you buying, selling or HODLing?”
Providing reasons for the upcoming bull run, one X account – Mystery of Crypto – explained:
Source: The Mystery of Crypto/X
Memecoins Cannot Be Overlooked
However, it is important to note that apart from major cryptocurrencies, memecoins are also playing a significant role in the rise of the crypto market.
This was confirmed by CoinMarketCap the latest trendy coins, including three memecoins. One of the most important being Dogecoin [DOGE]which has seen an increase of 2.22% over the last 24 hours.
Source: CoinMarketCap
Sharing a similar thought, @cryptosanthoshK note,
“I just feel like we’re going to see memecoin and altcoin seasons together.”