This long and detailed analysis (by Rakesh Upadhyay) of some of the prominent crypto coins starts out with a claim that a 40 trillion market cap can be reached in 10 years.
Compared to many estimates, I think this one isn't far outside the realm of possibility. It essentially means that it becomes as large a market as the current global markets in traditional equities, assuming those markets continue to grow, then crypto matching that market size isn't an unreasonable expectation. But a lot of things have to happen. The business world at large needs to see the value of crypto. That 40 trillion represents a huge influx of capital from fiat into crypto. The only way for this to happen without destabilizing the global economy is if there is enough economic growth to absorb that increase. Look at it this way. If people simply pull money out of stocks and bonds and stick it in crypto, then it's a wash, economically speaking. The value has simply been moved from one place to another. This is why crypto must show real value and why in the end the faster we get rid of shit coins and support projects with a real value add to the economy, the sooner we can get to that 40 trillion.
Agree. As much as it saddens me, a forest fire has to happen first. It will clear the dead leaves and the overall forest will be healthier.
A lot of people are going to lose money. Most people hold cryptos not because they see any real utility value in them. They hold them because they "hope" they will make x100 ~ x10,000.
Not a single person in this space (including myself 😉) doesn't look back and wish, "If only I held 100 bitcoins back in 2010."
But because a lot of people are driven solely by this; plus the fact that crypto operates mostly in an unregulated space; it has become a place ripe for scammers, pumps and dumps to take advantage of peoples emotions.
Case in point:
Source here.
Thanks for the link. Unfortunately, you're right that a lot of people will get burned before it all settles down.
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Bounty for what? There are lots of bounties out there.
Very good fundamentally speaking.
Where they get those resistance levels from in their TA is beyond me!
TA is as much art as science. So your guess is as good as mine. ¯_(ツ)_/¯
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