Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE
200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |
View more Headlines & Breaking News here, as covered by cryptopolytech.com
Ripple CEO Makes Bold Prediction For Crypto Market – $5 Trillion In 2024 appeared on www.newsbtc.com by Scott Matherson.
The Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse has boldly forecasted a transformative shift in the crypto industry, envisioning a $5 trillion market capitalization for cryptocurrencies in 2024.
Ripple CEO Says Crypto Market Cap To Double By Year’s End
Appearing in a recent interview with CNBC, Garlinghouse made a shocking prediction, stating that he sees the entire market capitalization of the crypto industry surging to $5 trillion by the end of 2024. The significance of this prediction carries severe weight, not just because of the startling numbers but also due to its ambitious timeline.
Since the concept of cryptocurrency was first introduced about 40 years ago and the inception of Bitcoin in 2009, the overall market capitalization of the industry has only been able to reach about $2.5 trillion. This massive growth in a dynamic industry has been fueled by the evolutionary changes that have significantly reshaped the fundamentals of the financial sector.
A rise to $5 trillion, as Garlinghouse expects, will see the crypto industry’s market capitalization doubling in about nine months. This substantial increase in such a short period would spell a revolutionary shift in the industry, extending its dominance as one of the most lucrative and thriving markets in the world.
Currently, according to CoinMarketCap, the global crypto market capitalization is estimated at $2.59 trillion, reflecting a 0.74% increase in the past 24 hours. The cumulative market volume has also grown to about $61.98 billion, with Bitcoin dominance recording more than 50% of the total cryptocurrency market.
Key Factors To Fuel Market Cap Growth
During his interview, Garlinghouse revealed several crucial factors that could drive the crypto market capitalization to $5 trillion. The Ripple CEO disclosed that macro factors, including the Spot Bitcoin Exchange Traded Funds (ETFs) and the upcoming Bitcoin halving event, were prime catalysts for the market’s expansion.
Expressing optimism about the crypto industry, the CEO shared insights from his years observing the market’s trends. He emphasized that the introduction of ETFs has been a major driver, attracting institutional investors globally and pushing substantial funds into the market.
Additionally, Garlinghouse pointed out that due to these macro factors, the demand for cryptocurrencies is increasing while its supply is dwindling. He implied that this imbalance in supply and demand typically results in price appreciation, eventually having a positive impact on the overall market.
The Ripple CEO has also stated that he expects more regulatory clarity within the crypto industry, particularly in the United States. He hinted at the possibility of a favourable change in crypto regulations following the country’s election and transition to a new administration.
Total market cap at $.26 trillion | Source: Crypto Total Market Cap on Tradingview.com
Featured image from Bitcoin Sistemi, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
FEATURED ‘News of the Day’, as reported by public domain newswires.
View ALL Headlines & Breaking News here.
Source Information (if available)
This article originally appeared on www.newsbtc.com by Scott Matherson – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.
We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.
CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.
First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!