Cryptocurrency markets are currently reaching levels not seen in over two years, approaching a total capitalization of US$2 trillion. This surge is attributed to Bitcoin recently surpassing US$50,000.
Experts are speculating on the unique factors contributing to this bull run, marking a significant shift from the scenario in April 2022 when market conditions were notably different.
Bitcoin MC To Reach $2 Trillion
As the current crypto market capitalization stands at US$1.97 trillion, highlighting the remarkable growth in the digital asset space,experts are now forecasting that Bitcoin will soon follow suit.
Renowned crypto analyst EGRAG CRYPTO has set the stage for an unprecedented Bitcoin (BTC) surge, predicting that the cryptocurrency will reach a staggering $2 trillion market capitalization by September 2024.
This bold forecast has sparked excitement among the crypto community, anticipating a historic ride in the coming months.
Fed Easing & Crypto Bull Run
Another crypto enthusiast, Daniel Cheung, co-founder of Syncracy Capital, shared his perspective on February 12 predicting that the ongoing crypto bull cycle will stand out for having the largest market cap creation and lasting longer than anticipated.
What sets this cycle apart is its correlation with the initiation of a Fed easing cycle – an unprecedented occurrence in the crypto bull market. After two years of raising interest rates, the U.S. central bank is now focusing on keeping inflation low.
According to Cheung, unless there’s a significant macroeconomic shock, crypto markets are likely to continue in a “buy the dip” mode. Furthermore, the absence of retail interest indicates that the market is still in its early stages.
As the crypto community braces itself for the months ahead, all eyes will be on Bitcoin’s performance, waiting to see if EGRAG CRYPTO’s forecast will become a reality.