Forecast: the Cryptocurrency Market Capitalization will be $11 Trillion by 2023
One of the cryptocurrency analysts, Benjamin Cowen, made his long-term forecast for the cryptocurrency market capitalization. He believes that the total value of all digital assets will reach $11 trillion in just over two years. For comparison, as of the time of writing, the capitalization of all cryptocurrencies is slightly less than 200 billion US dollars, which means that the market should grow 55 times by 2023. Cowen posted a video where he argued his point of view. He expects that the market will enter a phase of more confident growth very soon, and this will affect not only bitcoin but also many altcoins. The analyst assured that not all digital coins will grow, but only a few will be able to make x100-x1000 jump, while many projects are going to face complete collapse. Some experts believe that sustainable growth in the bitcoin rate will begin after the halving, scheduled for May 2020. Others, on the contrary, argue that the peak of the popularity of cryptocurrencies is behind and this “bubble” will only deflate further.