A trillion dollars is a very definite and realistic figure, according to the CEO of the Kraken exchange, Jesse Powell, for the capitalization of the cryptocurrency market.
CEO of the Kraken crypto exchange, Jess Powell, is confident that in 2018 the capitalization of the cryptocurrency market will reach $1 trillion, strengthening its place in the global financial system.
Given the latest trends in the cryptocurrency market, the end of the bear cycle and the hope for a new round of the bullish trend, the optimism of the Kraken CEO seems justified. A bear market is a correction after a significant increase in price, and such cycles are simply necessary for the crypto market, which is replenished with a huge number of coins. Today, among more than one and a half types of crypto assets, a bearish trend is able to clear the market of coins that are not viable and have no real value. However, according to analysts, this cycle is over and the market is turning towards an upward trend.
Despite the fact that some crypto assets have not yet resumed their growth, the overall market capitalization is increasing. Jess Powell is confident that in the remaining months of this year, cryptocurrencies can significantly increase their dynamics, thanks to the increased acceptance of the crypto industry by society.
Currently, many companies revolve around cryptocurrencies and blockchain technology, attracting more and more specialists in know-how. All of these trends in 2018 are well on track for a total market capitalization of $1 trillion, according to Powell.
However, the main problem with the growth of the crypto market remains the issue of regulation. Legal uncertainty is scaring traders and investors away from the cryptocurrency sector. It is especially important that the authorities move forward and soon create a structure so that traders can invest easily, Jess said. No less important, from his point of view, are the issues of regulation of ICOs, which attract new capital to the cryptocurrency market. Once the proper structure is in place, the ICO market will be able to increase the value of the cryptocurrency space.
At the same time, it remains unclear whether the low reached is the actual bottom or not yet. Most cryptocurrencies have already bounced sharply from these lows over the past couple of weeks.. If this momentum remains supportive and negative news declines, most crypto assets will see significant gains in price in the near future.
This is good news for most cryptocurrency holders, as many of them were trapped during the bear market.
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