February 20, 2024

Opinion: in 2023, the cryptocurrency market capitalization will be $ 11 trillion

Analyst Benjamin Cowan, based on logarithmic analysis, predicted a new altcoin bubble, duringwhose total valuation of all digital assets will reach $ 11 trillion.

According to his forecast, the next altcoins rally could bring a 313-fold profit.Under such a scenario, the capitalization of the cryptocurrency market will reach $32 trillion in 2023.However, cowan's assessment is unplausible.

A more conservative analysis gives the next peak of cryptocurrency capitalization of $11 trillion.The driving force behind the rally will be the altcoins, although not all assets will begrow equally, the analyst warned.

In this scenario, the next market peak bitcoin will reach the price of $141,000, but its share will be reduced to a minimum of 23% with a total estimate of $2.7 trillion.

Yet Cowan believes that we are still a long way fromHe stressed that his analysis is not an investment advice, it is only an assumption about the likely development of the interaction between the first cryptocurrency and altcoins.

Recall, the head of the cryptocurrency hedge fund Pantera Capital Dan Morhead believes that the capitalization of the cryptocurrency market can easilyreach $40 trillion.