‘Crypto market set to take off anytime now:’ $10 trillion market cap, when?

July 2, 2024

Main cryptocurrencies and memecoins drove the present bull run, with Bitcoin nearing $62K.
Specialists predicted that the crypto market might attain as much as $100 trillion.

The previous week has been a rollercoaster for the crypto market, beginning with the first presidential debate, which impacted the market positively, regardless of neither candidate discussing crypto instantly.

Then there was the SEC, which confronted setbacks in varied authorized battles, together with circumstances in opposition to Consensys, Binance [BNB], and Ripple [XRP].

Moreover, there’s this ongoing buzz across the potential approval of an Ethereum ETF and the latest filings by two asset managers for a Solana ETF.

YouTuber Scott Melker finest put it when he stated,

“This has been a type of weeks the place a decade occurs in per week.”

Good day for the crypto market!

As of the first of July, the crypto market turned all inexperienced, with each day will increase of over 2% throughout many cash. Bitcoin [BTC], the main cryptocurrency, rose by 2% prior to now 24 hours, nearing the $62K degree mark.

Commenting on this surge, Dan Tapiero, Founding father of 1Roundtable Companions, shared his insights in a latest episode of “The Wolf of All Streets” podcast, saying,

“I feel there are many Bitcoin holders who personal Bitcoin, and they are going to be benefitting. And, I positively see us transferring up north to kind of $150,000 on this run most likely within the subsequent 18 months.”

Initially, Tapiero predicted the crypto market might obtain a complete market cap of $10 trillion. Nevertheless, on account of latest developments and fast sector progress, he has considerably revised his estimate.

Now, he believes the market might doubtlessly attain $30 trillion, $70 trillion, and even $100 trillion sooner or later.

He additionally talked about that inside 18 to 24 months, the market might realistically attain the $10 trillion mark.

This was additional confirmed by CoinGecko’s latest X (previously Twitter) put up, which famous,

“Complete #crypto market cap is up 4% to $2.46T at the moment as #Bitcoin reclaims $63K. Are you shopping for, promoting, or HODL-ing?”

Offering the explanations behind the upcoming bull run, an X account — Thriller of Crypto — defined,

Supply: Thriller of Crypto/X

Memecoins can’t be ignored

Nevertheless, it’s vital to notice that in addition to main cryptocurrencies, memecoins are additionally enjoying a big position in pushing the crypto market.

This was additional confirmed by CoinMarketCap’s latest trending cash, which included three memecoins. One of the vital outstanding being Dogecoin [DOGE], which noticed a 2.22% enhance prior to now 24 hours.