A renowned cryptocurrency analyst has recently shared a prediction highlighting the potential growth of the total market value, which could reach an impressive $15 trillion. Currently, the market capitalization stands at $2.71 trillion with a 0.2% increase in the last 24 hours.
In a recent analysis, crypto expert Michael van de Poppe emphasized that the total market capitalization of cryptocurrencies is going through a consolidation phase after a 25% correction, including a percentage between “50-70% in altcoins”.
During this analysis, the analyst shared his forecast that the market could expect “some more consolidation before a clear break of the all-time high”. Additionally, the crypto trader emphasized the potential increase in the total market capitalization to $15T. This amount would represent a 484% recovery compared to the current market value.
“The total market capitalization of Crypto is consolidating after a 25% correction. This correction entails a 50-70% correction on Altcoins. Probably some more consolidation before a clean break of the all-time high. This cycle, I’ll see the total market cap going to $15T,” wrote van de Poppe.
The analyst Michaël van de Poppe recently shared an optimistic outlook on the near future of the altcoin markets. In an update to his followers on the X platform, van de Poppe analyzed the impact of the recent weak economic data in the United States on the crypto asset sector.
According to him, the disappointing data on employment in the US, which showed a rise in unemployment to 3.9% and an increase in average hourly earnings below expectations, could lead the Federal Reserve to adopt monetary stimulus measures.
“Terrible economic data -> DXY (US dollar index) down, furthermore, arguments for QE (quantitative easing) and rate cuts will increase and therefore risk in assets will increase. Bitcoin back [above] $61,600. The FOMC (Federal Open Market Committee) was the lowest point for the markets and the altcoin bull market began,” explained the analyst.
Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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