Experts are Putting Their Thoughts on the Crypto Market Reaching $1 Trillion
Crypto market is an exciting matter of discussion for almost very updated fiance and technology expert. Knowing the volatility and importance of the crypto market in the world economy, many experts study this market and come up with different theories and verdicts.
One such computer science expert from Cornell University has recently revealed his verdict on the market performance in the future. Professor Emin Gun Sirer is a bitcoin lover and supports this coin. As per his opinion, crypt will not be able to go beyond a collective market worth of $1 trillion till it does not meet specific requirements. He also said that as the crypto market keeps on developing the bearish trend will be vanished, and the crypto winter will be over.
He recently posted on his twitter handle that the crypto-currency market has gone beyond $700 billion with “inherently un-scalable technologies”; he was talking this about the 2017’s hype-based rally in the market. At that point of time, a few users were sure that it is possible for the market to hit $1 trillion of worth, but as we all know, it did not happen; instead, the market went into a negative trend.
However, the professor believes that with scaling solutions like the Lightning Network or Ethereum’ PoS, an increase in non-custodial programs (so that the risk of hack get reduced) and reliable use cases which can give positive results et positive outcomes, the crypto market could start showing positive trend again.
While the professor believes that a crypto market needs right now is a technological development which can take it beyond the value of $1 trillion; many other experts on the crypto market think that this might not be true.
One crypto researcher named PlanB has claimed that reduction in the 2020’s block reward can be the sole influencer which can pull the market out of its bearish trend and take it above $50,000 at least/BTC. This researcher stated that if Bitcoin sticks to a linear trend, the market has an opportunity to reach $1 trillion.
However, $55,000 /BTC is irrational for the most analyst. But according to PlanB, money from valuable assets like gold, and silver along with negative interest rate economic condition, authoritarian states, and institutional investors will enter the market to make it possible; and with a hike in hyperinflation, speculators are in search of alternative investment opportunities.
Messari executive Ryan Selkis brought to the notice another catalyst which could make this event possible. He said that millennial inheriting billions from their parents could find their way in the crypto market and hence pushing the value upward.