“You’ve got a lot more kids graduating from crypto programs at universities now. I think we’re just going to see it continue exponentially from here.” Jesse Powell, CEO of Kraken in an interview with CNBC where he also predicted that cryptocurrencies will hit $1 trillion market cap in 2018.
According to Mr Powell, cryptocurrencies stand a great chance of reaching a trillion-dollar mark this year. He also said the cryptocurrency market will continue to accelerate as it is currently proving. Over the past days, Bitcoin has gained over $2,000 from the recent dip and is currently struggling to break through the $9,000.
It should be recalled that before the price dip occurred, the cryptocurrency market cap was over $800 Billion. The market cap has, however, gained over $100 billion since the correction started and now stands at $418 billion with Bitcoin still occupying over 30% of the market share according to coin market cap.
Markets have also experienced calm ever since the meeting of some member of the US Congress which gave the entire community given the significant role the US plays in the space.
Similarly, JP Morgan who has also been a harsh critic of Bitcoin and cryptocurrencies added some more relief to the crypto space yesterday after they made a publication stating that cryptocurrencies are unlikely to disappear.
With such calm in the market and very little FUD, the prediction of over a trillion market cap made by Powell could happen sooner than expected by many.
What are your thoughts on this statement? Do you think cryptocurrencies will hit $1 trillion market cap this year?
Let us know your thoughts in the comment section below.