There is no reason to think cryptocurrency markets will stagnate. Even though things may not look promising, the markets will eventually recover. According to the Winklevoss twins, a $4tn market cap is only a matter of time. In fact, this number will represent the Bitcoin market cap alone. With other cryptocurrencies appreciating in value as well, the total cap will be close to $10tn or more.
The cryptocurrency markets have been rather volatile over the past few weeks. This has also affected the Bitcoin price and other cryptocurrency markets. As a result, some people expect the markets to keep declining for some time to come. For the time being, it seems all markets are stabilizing before the next leg up. If this trend materializes, the Bitcoin market cap will reach $4tn in the future according to the Winklevoss twins. That would certainly be quite a milestone for the world’s leading cryptocurrency.
Winklevoss Twins Remain Bullish on Bitcoin
While it is normal the Winklevoss twins are bullish on Bitcoin, this prediction rather outlandish. Bitcoin has never surpassed a $750bn market cap in its history. Even if that were to happen, it still represents one-fifth of the target the twins expect it to reach. Going from the current cap of $150bn to $4tn will take a lot of time. Even so, the twins are confident this will happen sooner rather than later. A rather bold prediction, but one that isn’t entirely impossible to achieve.
The Winklevoss twins explained their prediction as follows:
“So if you look at a $100 billion market cap today, now last week it might have been more like 200, so it’s actually a buying opportunity, we think that there’s a potential appreciation of 30 to 40 times because you look at the gold market today, it’s a $7 trillion market. And so a lot of people are starting to see that, they recognize the store of value properties. So we think regardless of the price moves in the last few weeks, it’s still a very underappreciated asset.”
Whether or not this trend will effectively materialize, remains to be seen. The year 2017 was rather bullish, but this year may prove to be very different. After all for now, the markets are still under a lot of bearish pressure from all angles. It seems a breakout will form at some point, yet it may not effectively happen in 2018. Then again, Bitcoin is always a long-term hold first and foremost, rather than a coin to flip quickly.
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