Recently,Mike Novogratz, a billionaire investor and former Goldman Sachs and Fortress trader emphasized that december 2017-early jan 2018 crypto market was not the ultimate crash of the crypto market. He believes the crypto bubble to be somewhere close to 20 trillion$ in terms of market cap. Let's see how it may happen.
COMPARISON TO DOTCOM BUBBLE
Fact#1
We must keep in mind that Dotcom Bubble was only restricted to rich people of USA whereas Crypto is a global movement spreading in areas unimaginable.
Fact#2
Asia, where crypto is most popular, has almost 10X the population of the US.
United States: 325 Million
Korea: 51 Million
Japan: 127 Million
Russia: 144 Million
India: 1.3 Billion
China: 1.4 Billion
Fact#3
Dotcom Bubble was at its peak with 6 trillion$ crashing all the way to 1 trillion$.
Counting inflation and the facts,You don't need to know rocket science to do the math.
2017 BULL RUN WAS RETAIL MANIA
December 2017-Early Jan 2018 was essentially retail investors pouring their savings in the crypto space with negligible institutional investors participating at that time.
With custodial services launched by prominent players like Coinbase, Institutions are waiting for the stability and robustness to start investing in cryptocurrency market with hedge funds, pension funds, retirement funds etc.
Prepare for Institutional FOMO!
Although There is no specific timeline as to the occurence of a 20 trillion$ market cap but it may be sooner than you think!
Keep HODLing.