Top Cryptocurrencies Prepare for Massive $4 Trillion Surge
In the wake of the recent crypto market rebound, an analyst has suggested that the overall market capitalization has finalized its brief correction phase and is poised to kick off another bullish trend soon. Michael van de Poppe, the aforementioned analyst, anticipates that the crypto market’s next significant milestone is set at $4 trillion in the long term. Presently, the market stands slightly above $2.3 trillion.
Van de Poppe shared his insights on social media, highlighting his belief in the market’s trajectory. Utilizing the 0.618 Fibonacci retracement level from the All-Time High (ATH) peak of $2.72 trillion, he derived a retracement value nearing $2 trillion. The market capitalization of cryptocurrencies adhered to the Fibonacci sequence, rebounding from a critical support level. Had this support level been breached, the subsequent level would have been around $1.85 trillion at the 0.5 Fibonacci mark.
The analyst projects that the forthcoming long-term goal for the cryptocurrency market cap is situated at the 1.618 Fibonacci level, positioned just below the $4 trillion valuation, specifically at $3.95 trillion. Beyond that, the subsequent Fibonacci sequence points to $4.85 trillion at the 1.786 level.
This forecast appears feasible in light of the nascent stage of the digital currency market’s bull market. Projections for Bitcoin alone suggest a price range between $100k and $250k by the cycle’s conclusion, with a target market capitalization spanning $2-4.5 trillion. As the bull cycle advances, altcoins are expected to trail behind Bitcoin, gradually eroding its dominant market share.
While the overall market capitalization is anticipated to surpass $4 trillion at some point during this cycle, predicting the individual contributions of each digital currency remains challenging. Historically, the crypto market has witnessed significant altcoin surges during the preceding bull markets of 2016-2017 and 2020-2021. Nevertheless, Bitcoin typically leads the upward trend, with other cryptocurrencies following suit subsequently. Bitcoin is expected to retain a substantial portion of the bull run, potentially maintaining a dominance level exceeding 40% until the cycle’s culmination.
Pinpointing the precise timing of this major price surge poses a challenge, yet market performance is expected to be robust in the latter half of 2024, potentially setting the stage for a robust 2025. By the third or fourth quarter of 2025, the total crypto market capitalization could scale new heights, contingent upon broader economic circumstances.
