Tim Draper, notable for his successful predictions of the value of cryptocurrency has predicted that the market capitalization of all cryptocurrencies hit $80 trillion in 15 years. He stated this while addressing DEALSTREETASIA, private equity and venture capital summit held in Singapore recently.
The Cryptocurrency Market Value and Predictions
Notable thoughts on the cryptocurrency market value made recently came from a cryptocurrency enthusiast while clarifying the misinterpretation that trailed his opinion on the cryptocurrency market. Vitalik Buterin, the co-founder of Ethereum, brought to everyone’s notice that almost all of the educated class are aware of cryptocurrency. Thus, the growth of cryptocurrency should no longer depend on attention but depth.
Buterin also noted that there is currently no room for 1000x increase in the cryptocurrency market anymore. Meanwhile, Justin Sun responded to Buterin that he believes that the whole world will turn to cryptocurrency and a market cap of about $10 trillion is possible ahead of Apple and Amazon.
Their thoughts on the cryptocurrency market cap are joining numerous others on what the future holds for cryptocurrencies amid the markets’ bearish trend. The failure of the Bitcoin price to break above its resistance of $8,000 has made Jani Ziedins say the bear market isn’t going anytime soon. Also Mohamad El-Erian, the Allianz Chief Economist stated that bitcoin price would steady at $5,000.
Draper’s New Prediction On Cryptocurrency Market Capitalization
Tim Draper, while addressing participants of the summit in Singapore through a video link, stated that the cryptocurrency market cap would hit $80 trillion in 15 years. Tim’s opinion about the future seems to be along the same line of thought of Vitalik Buterin.
The opinion of Tim on the cryptocurrency market is supported by equating the cryptocurrency market with the internet. He noted that the cryptocurrency market would experience a crash like that of the internet at its early stages, but afterward will see the rising wave.
Tim further stated that the internet market rose from $10 to $100 billion markets. However, the cryptocurrency market will rise to trillions as it cuts across different industries such as finance, healthcare and insurance, banking and investment, among others.
Tim Draper has been known to be a ‘seer,’ that trusts the cryptocurrency market. He had predicted four years earlier that Bitcoin would reach $10,000 in 2017, which came to fulfillment.