Recently,Mike Novogratz, a billionaire investor and former Goldman Sachs and Fortress trader emphasized that december 2017-early jan 2018 crypto market was not the ultimate crash of the crypto market. He believes the crypto bubble to be somewhere close to 20 trillion$ in terms of market cap. Let's see how it may happen.
COMPARISON TO DOTCOM BUBBLE
Fact#1
We must keep in mind that Dotcom Bubble was only restricted to rich people of USA whereas Crypto is a global movement spreading in areas unimaginable.
Fact#2
Asia, where crypto is most popular, has almost 10X the population of the US.
United States: 325 Million
Korea: 51 Million
Japan: 127 Million
Russia: 144 Million
India: 1.3 Billion
China: 1.4 Billion
Fact#3
Dotcom Bubble was at its peak with 6 trillion$ crashing all the way to 1 trillion$.
Counting inflation and the facts,You don't need to know rocket science to do the math.
2017 BULL RUN WAS RETAIL MANIA
December 2017-Early Jan 2018 was essentially retail investors pouring their savings in the crypto space with negligible institutional investors participating at that time.
With custodial services launched by prominent players like Coinbase, Institutions are waiting for the stability and robustness to start investing in cryptocurrency market with hedge funds, pension funds, retirement funds etc.
Prepare for Institutional FOMO!
Although There is no specific timeline as to the occurence of a 20 trillion$ market cap but it may be sooner than you think!
Keep HODLing.
Interesting article and salient points on why we must believe and keep HODling!
Great stuff @anubhavgirdhar!
Thanks. @joetunex
You are welcome!
Mike Novogratz has mega balls of steel to have done what he's done when he did it. He's a folk hero of a modern day sort, to me at least. I am big hodler of EOS, and was thrilled to see him invest huge there in their VC fund with Block.one. To have him see what I saw, gave me great confidence. Now to see Bitcoin gaining traction against the bearish climate is very good. I remember $800 billion market cap, to see $20+ trillion will be so lifechanging for so many, WOW, thanks for painting the picture, we've been buried in negative sentiment for the last 7 months. Keep your article growing, add more content.
EOS is certainly one of the biggest experiments of this space. I am new here. I'll be writing more often. Thanks for your appreciation.
I agree. Crypto is barely getting started. We haven't even hit $1 trillion worldwide at the highs. There is plenty of smart money waiting on the sidelines. Once things get rolling, the crypto market will move fast. We just need a little patience for now.
Absolutely. Hyperbitcoinization is not a far fetched dream.
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I don't think that crypto is bubble.
Nice article👍👍
Upvoted you..
Any speculated asset class is a bubble. Crypto is moving too fast too soon.
and this is your first article here?
WOW! Congrats and keep the good work!
Best regards,
@truth-exposed88
Yes it is. I am still struggling to understand Steemit. Lol. Thankyou. :)
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