Chief investment officer at Pantera Capital, one of the largest investment companies in the cryptocurrency segment, Joe Circle said that the digital asset market will grow at least 10 times when the next major bitcoin rally begins.
Joe Circle made this forecast during an interview with Bloomberg — according to the investment Director of Pantera Capital, the total capitalization of cryptocurrencies will reach $2 trillion.
"If the next rally is as effective as the previous ones, the cryptocurrency market will easily make X10.»
The circle noted that during previous growth cycles, news like the current one that major players in the financial industry, such as Fidelity Investments and the Intercontinental exchange (ICE), are entering the crypto space, would trigger a surge in speculative investment. Now, in his opinion, the market is waiting for concrete actions on the part of financial institutions — this will be the catalyst for a bullish rally.
The circle also believes that for the industry to continue to grow, blockchain systems must find ways to increase scalability.
"If cryptocurrencies do not have scalability — cryptocurrencies do not have market makers, and, therefore, there is no liquidity."
Recall, recently the head of Pantera Capital Dan Morehead said that the blockchain is a new step in the evolution of technology, and cryptocurrency — the highest form of cash. According to Morehead, bitcoin is the most breakthrough technology his generation has found.