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Crypto market cap to hit $2 trillion in coming months; Expert analysis

Crypto market cap to hit $2 trillion in coming months; Expert analysis

Although the market capitalization of the cryptocurrency industry lost the $2 trillion threshold in April 2022 and has not recovered since, some crypto trading experts believe that it could reclaim this level in the next few months, i.e., by the year’s turn, and that further advances are possible as 2025 rolls in.

Specifically, cryptocurrency specialist Michaël van de Poppe has shared his analysis of the crypto market cap movements so far, as well as the prognosis of how they could proceed in the months and years to come, suggesting a recovery of $2 trillion by 2024, according to his post on July 31.

Crypto market cap action analysis. Source: Michaël van de Poppe

As it happens, van de Poppe’s analysis of the crypto market cap chart patterns also indicates that it could perhaps even look forward to reaching as high as $3 trillion by 2025, which would represent a new all-time high (ATH) for the crypto industry’s market capitalization.

Should this indeed take place, it would result in the breaking of the crypto market’s previous record of $2.77 trillion, in addition to representing an increase of more than 8% since the market cap level reached on November 11, 2021.

Crypto market cap analysis

Meanwhile, the total crypto market cap at press time stood at $1.17 trillion, recording a decline of 1.44% on the day, dropping 0.223496% across the previous week, as well as losing 1.97028% on its monthly chart, according to the data retrieved by Finbold from crypto monitoring platform CoinMarketCap.

Total crypto market cap 30-day chart. Source: CoinMarketCap

One of the events that could play a major role in the future increase of the total crypto market cap is the upcoming halving of its representative asset, Bitcoin (BTC), which could lead the flagship decentralized finance (DeFi) token toward the price target of $1 million, as some experts have projected.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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