Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Articles about Cryptocurrency => Topic started by: felixesteban on April 28, 2018, 12:26:51 PM
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The founder of cryptocurrency hedge fund Pantera Capital said on Thursday that he believes the cryptocurrency market cap could one day be worth $40 trillion.
Dan Morehead, who is also the firm’s CEO, said in an interview with Bloomberg that he believes the fair market value of the cryptocurrency market cap is an order of magnitude or two above where it currently sits.
“Obviously, we’re very bullish on the space. We think we’re way below, maybe an order of magnitude — or two — below the real fundamental fair value of blockchain,” he said, stating later that “the industry as a whole is $400 billion. It easily could go to $4 trillion, and $40 trillion is definitely possible.”
“Anything that’s a $400 billion asset will not be ignored for long,” he added.
For the cryptocurrency market cap to reach $40 trillion, it would need to increase approximately 10,000 percent from its current level. If current market share distribution held constant — which of course is unlikely — the Bitcoin price would trade at a nearly $1 million valuation.
As CCN reported, Pantera recently issued just its fourth trading recommendation on Bitcoin in its seven-year history, arguing that BTC had flashed a buy signal after dipping below its 200-day moving average. Since then, the Bitcoin price has climbed by approximately $2,000, netting investors who followed the firm’s advice a 29 percent profit.
Read more:
https://www.ccn.com/40-trillion-cryptocurrency-market-cap-definitely-possible-pantera-capital-ceo/
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We had an amazing time at #Token2049 ! 🇸🇬
We've created a blog with a lowdown of what went on:
🤓 Learning sessions about risk and cover
🥳 Launch Party
🚀 MainNet Launch
🤝 Token2049 itself
🎙️ @MET4BE4R - "I love hacks"
🏎️ WSeries Sponsorship
Read: amulet.org/blog/amulets-t
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$40 Trillion Cryptocurrency Market Cap is really possible in the near future, but still crypto on its early stage. Still need more developments to be implemented. But regardless of the status of the world right now, crypto will be a massive stepping stone to real money fiat replacement.