The Cryptocurrency market will raise over 5000% in the next 10 years!

Hello dear blog readers,

the CEO of a global consulting firm deVere Group said the cryptocurrency market will grow > 5,000 percent over the next decade. At the same time, the market dominance of Bitcoin will continue to decline over the same period, according to Nigel Green.

In this post I want to share more information about this statement with you and here you can find the source in German:

The competition will weaken Bitcoin's market dominance

The first decade of Bitcoin is slowly coming to an end, in January the Bitcoin network has existed for ten years and so far unimaginable has been achieved. What will happen in the next ten years? This question was also asked by Nigel Green, CEO of the Vere Group, which is still bullish on bitcoin. He is optimistic about the future.

According to International Investment, the CEO claimed that the total market capitalization of all cryptocurrencies will increase by 5,000% by 2028. That would mean market capitalization rises to $ 105 trillion. Hard to imagine - however, on April 1, 2017, it was hard to imagine that market capitalization would increase from $ 26 billion by more than 3,000% to $ 828 billion in January 2018.

Green talked about the achievements of Bitcoin, and how they changed the (financial) world:

Bitcoin is what triggered the crypto revolution, and it has changed the way the world transacts, and manages assets. It all started with Bitcoin.

However, not only Bitcoin, but also other cryptocurrencies, will have an impact on the financial markets in the future. Green recognized Bitcoin's role as a pioneer, but he believes that Bitcoin's market dominance will decline over the next decade. The reason is the competition among the cryptocurrencies:

With the increasing mass introduction of cryptocurrencies, more and more digital assets will hit the market - from organizations in the private and public sectors. This will increase competition and reduce Bitcoin's market share.

Bitcoin as currency and store of value

Another reason for the declining market dominance is: Future technologies that Bitcoin can not match. He probably means that crypto-currencies that do not require transaction fees or those that do without proof-of-work.

However, it will be difficult for cryptocurrencies to get past Bitcoin. Bitcoin is the gold standard among the cryptocurrencies and also the pioneer. The media attention is focused on the digital gold.

Although Bitcoin is not the optimal (crypto) currency, BTC is already used in some countries as a store of value and a safe haven asset. And the currency aspect is working with SegWit and the Lightning Network.

Source of the translated text: Coincierge,

Greetings and hear you in my next article.

Michael Thomale

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