Raoul Pal says ‘reasonable chance’ crypto market cap could 100X by 2030

Raoul Pal, a former manager at Goldman Sachs and CEO of Real Vision, believes that crypto market capital could grow 100x by the end this decade.

The global crypto market capital is $2.2 trillion at the time of writing. Pal stated that there’s a “reasonable chance” that this number could rise to $250 trillion if current adoption models for crypto networks continue.

Pal made comparisons between current benchmarks and other asset classes, such as equities and bonds, and noted that all of them have market caps between $250 and $350 trillion.

The total derivatives market is $1 quadrillion, according to me. There’s a good chance that this will be a $250 trillion asset category, which is 100X more than here. This would represent the fastest growth in any asset class in history over the shortest time period.

“This will almost tie in with the idea of 3.5 billion people using it — that’s simply extrapolating growth numbers for the network. He explained that if there are 3.5 billion users by 2030, then the market cap will be around $250 trillion.

It’s clear that it won’t go up in a straight line. The total cryptocurrency market cap fell 6.8% in the last 24 hours due to a significant pullback across major assets. Bitcoin (BTC), Ethereum(ETH) and Binance Coins (BNB) all dropped 7.6%, 9%, and 9.1% respectively during the same period.

Related: Bitcoin Price Drops to $43.7K After Fed Minutes Re-confirm Plans to Increase Rates

Pal may be surprised by the recent downturn. In an interview Dec. 27, Pal predicted that Bitcoin would see a strong start in 2022, stating that he believed that a period of institutional selling and profit-taking at the end of the year was over.

He said, “It seems like they’re done” because the market had been cutting around for the past week which was the traditional last week of everyone squaring its books.

Pal in November predicted that the bull market would not end in December, as it did in the 2015 and 2017 cycles. Instead, the bull run will continue until June. Pal pointed out Q1’s heavy institutional inflows as the main reason for this.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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