Bitcoin Market Cap Could Surpass $1.5 Trillion: Analysts Bullish on BTC’s Financial Landscape”

Sharon Lullaby

Prior to today’s fresh surge, several analysts speculated that the price of Bitcoin could reach even greater heights, with predictions suggesting its market capitalization could surpass $1.5 trillion. With the current price hovering around $64,000, its market capitalization stands at approximately $1.3 trillion.

“Bitcoin is poised to make significant strides in the financial landscape, with experts predicting it will eventually capture about a quarter of the monetary gold market,” emphasized Jurrien Timmer, Global Macro Director at Fidelity, in a recent post.

He mentioned that with the current monetary gold valued at around $6 trillion and Bitcoin’s market capitalization at $1 trillion, Timmer estimates that the value of Bitcoin could soar to $1.5 trillion if it successfully captures a quarter of the gold market share.

This optimistic outlook aligns with the previous surge in Bitcoin, which experienced a substantial increase of 10 percent to $57,000. This bullish momentum is linked to two key factors: the anticipated Bitcoin Halving expected in mid-April 2024 and the market’s anticipation of approval by the Securities and Exchange Commission (SEC) for a Spot ETH ETF. This ETF could boost demand for ETH crypto and attract the market towards several popular tokens issued on the Ethereum blockchain.

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