Bitcoin Forum

The overall cryptocurrency market is projected to reach USD 1.40 billion by 2024.

What's your take on this?

I thought I would see something like charts or any other indicators yet this thread since it do talk about some projection towards market on upcoming years.
Talking about 1.40B  on 5 years time? Possible but this wont really be an easy ride but would be a bumpy one.No one can predict on what would be the future
of crypto market knowing that regulation is one of the main problem of crypto on mainly being adopted that's why it cant really go full force when it comes to global use.
Each country do have their own jurisdiction towards crypto which is totally decentralized which is opposing into their main aim.They would rather create on their own
rather than adopting a thing which is something cant be controlled.

I think you meant $1.4 Trillion, because Bitcoin alone sis more than $100 Billion marketcap now. For me I believe before or around 2022 the who market cap would reached $1 Trillion which I think is doable, if the recession that are being project are true then people would see for better Asset to invest into coming out of recession and drive new users and money to the space

yes, the OP should change from $1,4 Trillion not $1,4 billion
but, in my analysis not in 2024 but before the end of 2020 marketcap of cryptocurrency will touch that level   ;)

Yes, that's what he probably meant, a trillion dollar market cap. If my memory serves me right, we are close to that numbers when we are in the bull run in 2017, there are even comparison that the marketcap has reach the valuation of companies like Facebook and Apple that time. Five years time? we can even reach that in the next two or three years specially if we go on another dramatic and massive bull run in 2020-2021 because of the block halvening. So I wouldn't get excited or be surprise by this, crypto currency is growing in numbers and once this bull run happens again, we don't know when is the next stop, $30,000-$50,000 price projection for Bitcoin alone.

With that low market cap? whats the market cap now? we are $260B market cap now and take note that the market plunged today.

Do you mean $1.4T?

If thats what you mean, well we can evetually reach that market cap soon. We are aiming for that market cap and cryptos are emerging these days despite of its volatility, many investors are believing on it.

Ok, let's assume that the OP made a mistake which it will probably $1.4T.
My opinion about $1.4T market cap of cryptocurrency is really POSSIBLE. Especially when Bitcoin will break the previous ALL-TIME HIGH which is around $19,000.

Especially when the price of Bitcoin reached around $19,000 before, the market cap is around already $700,000,000. So, let's say that the price of Bitcoin will reach double the ALL-TIME HIGH price, around $40,000 per Bitcoin.
Then it is really possible, especially there will be some altcoins will gain huge market cap. Altcoins will also help the market cap of cryptocurrencies soar, even the Bitcoin dominance is surging up.

Do you have any information on about this statement?
But in my opinion, the crypto market never plummeted like that. everything will be stable again and a lot of sharks are tending to collect more coins.
By 2020, the market is likely to grow to $ 500 billion soon. and by 2024, I think the market has risen to $ 1,000 billion. ;D

I am more interested in the projections released yesterday by ABI research about $10 billion USD revenue generated in 2023 by blockchain. It sounds like a lot but actually it is really small. If you only generate that much revenue from blockchain, and you have a crypto market projection of over 1 trillion USD then it does not make sense to me. Or am I seeing this wrong?

I think the report is talking about the blockchain per se and not crypto itself. So there will be a big discrepancy in terms of the amount. I think the OP is talking about trillion dollar market capitalisation here so that project is feasible as we have seen the marketcap growing in that range in 2017. If bitcoin continues to grow in 2018 I'm sure that we already hit that projection. However, we know that the bubble has been burst, so probably in the next two to three years we might see marketcap in that range already.

This is also a good read, https://www.cryptoglobe.com/latest/2019/07/bitcoin-s-market-cap-will-surpass-1-trillion-by-2025-crypto-analyst-predicts/

2020 is still too fast guys. although next year there are many things that can make a big pump, but I think it's still very difficult.

bitcoin domination currently reaches 68%, and if you want the crypto marketcap to be at $1.4T. then the bitcoin marketcap must be above $960B. meaning that the price of bicoin rises to $45K in 2020.

then the question is are you sure bitcoin can go up to $45K next year? although there will be halving, but I'm pessimistic that BTC will be pumped up to that price.

It's a probable typo I guess.

The early days of bitcoin, it has been surpassed to that market cap but to think that there will be a plummet in the market cap with that much, I don't want to believe that it will happen although there's always a possibility.

Hope so that we will be at that market cap again.

We just need to understand that the cryptocurrency market is changing rapidly. If the total capitalization approaches 1.5T, I expect it to be something else that we have now. And 2024 is almost infinitely far.
Besides the fact that it may not be an easy trip, crypto may not lead to anything at all, contrary to our wishes.
These are all assumptions. Such forecasts and articles are similar to attempts to attract new money in crypto. Well, so be it.

I don’t understand your argument and I don’t understand your source of data and what you are trying to insinuate here, are you saying that the market would have dropped so low by 2024 or you made a mistake in the figure, because 1.40 billion is more or less like loosing almost 90% of the current market cap, because presently we have already grown close to $300 billion and it is our desire and hope that the market continues to grow till we reach about 1 trillion dollars or even more than, so why bringing us own again.

Is this news supposed to help us or create FUD? Except maybe you are meant to say 1.4 trillion which I really am of the opinion that the market may even grow beyond that by then.

Did you mistype or you are seriously suggesting that by 2024 the crypto market will e almost completely dead?
For reference currently the valuation of BTC alone is 170 Billion usd.

It may possible but when bitcoin is still doing like this time and it may not possible again consider that needs a big push for bitcoin to go to the moon. It looks like rather than predicting about the big marketcap for bitcoin and i wanna believe if the bitcoin will stay at this level again.
the performance of bitcoin is quite impressive this year and there are a few years remaining and hope we can get that rate in the future.
Bitcoin must worth more than $50k

i believe 2024 crypto market will be more than $1,5 Trillion my friend
or doubled from the past highest market capitalizations,,
if i'm not wrong in january 2018 market cap of crypto reach about $800 Billion,
and maybe next year crypto market cap will touch about $1Trillion, after that will down hard

I think $1.4 trillion by 2024 sounds very reasonable. I would actually expect total market cap to exceed this. We are talking about 5 years time - look at where crypto was 5 years ago, and see how much has changed in terms of price. Even a cap of $1.4t is small in terms of global capital. There is a lot more room for growth.

I think you mean 1.4 trillion but not 1.4 million. The market capitalization has decreased to lower level in 2018, the bleak year for cryptocurrency. With the beginning of 2019, market cap has started increasing. I think market cap will reach 1.4 trillion even before 2024 as cryptocurrency is being adopted widely.

Its is a typo, it meant for million for sure.
Is that would be a kind of market absorption. Almost everyone believes for another breaking record that might Bitcoin can do again in the future. And thinking for 2024, ain't be sure for that cause still to say that everything will remain unpredictable and the market will change. Will all this market to the future of Bitcoin price.

Things also have to grow for a reason, things don't just grow because of momentum (well, they can but it cannot be sustained). So even if we think less about the volatile spikes and parabolic growth every cycle of 2/3 years, we can't keep thinking the market will just grow over time simply because it always has been and because new coins will enter the market.

It's more meaningful to see in 5 years adoption rather than market.

yes, we really cannot hope we will repeat the momentum that occurs in the annual cycle. we can only see what's really happening in the market today. where market adoption does not support sustainable improvement. It may be that some coins can improve, but as you say, they won't last long.

I do think that technological advances in the next few years will help to prepare the world for widespread crypto adoption. Things like the new 5G network will help in the spread of IoT, which in turn should help in extending smart contracts into the wider world and move these coins beyond merely being ICO platforms.
So I am confident that overall market cap by 2024 will be considerably higher than now.

Indeed, the spread of cryptocurrency is due not only to a narrow direction, since cryptocurrency can be used not only in trade or to pay for services, but also in different spheres of human activity that are at different poles, such as medicine or sea freight.  There are quite interesting projects that I hope will be implemented by teams of professionals.

I thought as much too, because I expect us to be appreciating and not depreciating as we advance more into the cryptocurrency usage and with the way the adoption is growing, countries like Switzerland and the rest accepting it, cryptocurrency banks and atm being established in major countries, it would only be wise for us to say that by 2024, we will be heading to trillion in the market cap of bitcoin.

This is therefore the assurance that the future would be bright for holders of bitcoin, imagine what the value of bitcoin will be when it grows to such amount, leaving the millions club into the trillion club. 2024 will welcome lots of people into the millionaires club also when their investment would have yielded a high rate of increase.

This is just your personal prediction and we need to be more patient because this market still has a lot of problems in investing. I think everything will increase in the next few years, but in order to do that everyone needs to pay special attention to Blockchain technology because this is a technology that's being applied very well to our daily lives and makes everything here transparent.

I cant really blame people who do primarily see bitcoin as means of investment not into its tech or usage when it comes to long term aspect.We are indeed on the gradual phase of increasing of adoption not only with Bitcoin but also into the entire cryptocurrency market as well.We have seen that adoption is gradually increasing and but definitely disagree on the thing you had said about assurance of bitcoin in future is bright one.Nothing can predict on what lies ahead but 10 years is just really a very young tech to neglect on.
We do see some progress and we can presume that this will continue into upcoming years to come and reaching out that trillions of mcap.

What can I say?I fully agree with that.Until then, the issue of regulation of cryptocurrencies will be resolved, and I am sure that perhaps the capitalize will be even higher than the stated amount.I certainly want that very much.

you are right. currently the market doesnt grow that much because there is no new money which flows into the market from fresh investors. i think when the time has come and we come closer to the previous ath this could be the catalyst for new money which will be invested into the crypto market. so a marketcap of 1.45 $ is absolutely possible for the long run in my opinion.

As personal prediction, he should have at least show some charts where he is basing his prediction. Because if he's only giving that figure, it means nothing actually. Everyone can give their number and say something about it. But if you provide charts where you derive your calculations, maybe it would be a sound prediction and good basis of argument.

maybe you mean 1.4 trillion, because if you really mean 1.4 billion then that means death for crypto.
in my opinion it is very possible that the cryptocurrency marketcap reaches 1.4 trillion, when bitcoin reaches ATH in early 2018, marketcap reaches 750 billion, and if in the next few years Bitcoin reaches a new ATH then the achievement of new marketcap will also be achieved

Not everyone. A lot of people, especially in real life not outside this forum, believe that Bitcoin already made its record and will never again touch the same price.

They all think this is a bubble that is on the way down never to recover. And the banks and the governments will do their best to prove them right.

When Bitcoin overcomes $ 20,000, a question will arise for many investors. Will Bitcoin again fall to 4,000 dollars? I am a supporter that Bitcoin will need to go quickly to the mark of at least $ 30,000.

If that really happens, then that's when the terrorists go extinct. In the crypto market, there have been many allegations that many terrorist organizations are trading bitcoins in Deepweb to exchange illegal goods such as drugs and weapons.
and that is the reason for the growing volume of transactions and the increasing demand, which has led to a strong increase in the value of bitcoin in recent years.
And when the whole market is only $ 1.4 billion, that's when we need to find new jobs to continue our lives. But which website do you get information from? Please give me the link to read more clearly about the intention.

And whose projection is that? And on what basis? How are the numbers computed, if it did not just come from some random portion of anybody's imagination?

Everybody can put on the table their own projections. You and I and everybody else could just compute it roughly and come up with a number. But without sound bases and explanation, it is nothing but mere hollow speculation.

And please, that single digit billion is already a thing of the past for crypto. We are by the hundreds of billions as of today. And for me it will not even reach 2022 before it transforms into trillions.

If the next years we are waiting for growth in price then why not. 1.4 trillion are real numbers, but if bitcoin grows 60 times)))) Some analysts say that bitcoin will cost 50 k so time will tell.