With the year drawing to an end, crypto investors and enthusiasts definitely have their eyes set on the future and what the digital asset market holds for them in the coming years. Despite a slow start to the year,...
With the year drawing to an end, crypto investors and enthusiasts definitely have their eyes set on the future and what the digital asset market holds for them in the coming years. Despite a slow start to the year, the final months of 2023 have looked favorable for the cryptocurrency landscape, with the bull cycle seeming to be in full gear.
There has been broad commentary on the potential of the ongoing bull run and how it could impact the crypto market. A crypto researcher with the pseudonym Ether NasyonaL is one of the latest entities to discuss the current cycle and its future trajectory.
Total Market Cap To Hit $8 Trillion By 2025: Analyst
In a recent post on the X platform, crypto analyst Ether NasyonaL put forward an exciting projection for the digital asset market over the coming years. According to the pundit, the crypto total market capitalization could reach $8 trillion by 2025.
This bullish prediction is based on candlestick formations on the weekly timeframe across various market cycles over the past decade. Ether NasyonaL identified three bull cycles since 2015, with the third still in its early stages.
Using the chart above, the analyst observed that 155 candlestick bars were processed from the bottom to the local peak between January 2015 and January 2018. During this bull run, the total market cap reached a high of over $740 billion.
Meanwhile, Ether NasyonaL found that 152 candlestick bars were processed from the bottom to the local peak between December 2018 and November 2021. Notably, investors saw the crypto market cap reach $3 trillion during the peak of this bull cycle.
Based on historical analysis of the last two cycles, NasyonaL believes there is a chance for a similar 150+ bullish candlestick pattern until October 2025, starting from the November 2022 bottom. This projection suggests a continuation of the current bull run over a considerable period.
And from the analyst’s evaluation, the bull cycle could potentially bring the market cap to an unprecedented $8 trillion. Such growth would represent an almost 400% increase from the current valuation of the cryptocurrency market.
Crypto Market Cap In 2023
In the wake of the crypto winter in 2022, the digital asset market started 2023 well below a billion-dollar valuation. However, the market picked up pace as the year went on, thanks in no small part to the resurgence of Bitcoin, the largest asset in the sector.
As of this writing, the total cryptocurrency market capitalization stands at $1.612 trillion. According to data from TradingView, this figure reflects a massive 113% increase in the last 12 months.