In the next 10 years crypto market can eclipse up to $20 trillion | Redenom

In the next 10 years crypto market can eclipse up to $20 trillion

In the next 10 years crypto market can eclipse up to $20 trillion

10 years ago the creator of bitcoin Satoshi Nakamoto has published his white paper and has changed dramatically global economy. At the moment the main cryptocurrency boasts the market cap of more than $112 billion, while bitcoin’s dominance remains at more than 53%.

Meanwhile Nigel Green, founder and CEO of financial advisory firm deVere Group, which boasts $10 billion in AUM, believes that the next 10 years will look a lot different than bitcoin’s first decade.

He thinks that bitcoin’s influence and dominance on the cryptocurrency sector will drastically reduce, while the value of the broader crypto market is going to expand by 5,000%, which would attach a combined market cap of $20 trillion in the coming decade

Green stated: “[While] I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade. This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched – by organizations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market share.”

As well he told CCN: “I believe that…XRP will be one of the main digital assets to dent Bitcoin’s market share over the next few years due to its apparent focus on integrating with banks and other financial institutions. Another one would be its current main challenger Ethereum.  This is because a growing number of platforms are adopting Ethereum as a means of trading; there’s an increasing use of smart contracts by Ethereum; and due to the decentralization of cloud computing. The market will have grown beyond recognition when Bitcoin celebrates its 20th anniversary.”