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Bitcoin (BTC) and other top crypto assets are trading far from their all-time highs.

According to data from TradingView, BTC is trading more than 50% below its all-time high, while Ethereum is down nearly 85%.

Most altcoins have registered even worst performances than the two market leaders, crushed as large players cashed out of the market during the 2017/2018 bubble.

Yet this hasn’t stopped investors from speculating where this nascent market could end up once the next market cycle peaks.

CRYPTO COULD HIT $10 TRILLION AS RETAIL MONEY FLOODS IN

According to Joseph Todaro — managing partner of crypto-centric fund Blocktown Capital — the crypto market’s capitalization could reach over $10 trillion in the next cycle as “retail money really starts flowing back in.”

$10 trillion is approximately 4,000% higher than the current aggregate value of digital assets at around $270 billion.

“When retail money really starts flowing back into crypto I wouldn’t be surprised to see a $10T+ market top”

In context, $10 trillion is a fair sum of value in the grand scheme of things.

Blockforce Capital chief executive Eric Ervin shared the chart below on June 9th, showing that the total market capitalization of the S&P 500 is $27.8 trillion.

At $10 trillion, crypto would be just over one-third of the current value of some of the most valuable companies in the world, including Apple, Microsoft, Facebook, and Amazon. $10 trillion is also around 50% of the U.S.’s national GDP in 2019 or around 10-12% of the global GDP.

Importantly, though, just because crypto’s market cap may reach $10 trillion may not mean that $10 trillion greenbacks have been deposited into Bitcoin exchanges.

Due to what is known as a fiat amplifier, which means that $1 worth of Bitcoin purchased may push up its market cap by more than $1, a $10 trillion industry may not be as hard to achieve as some may expect.

The expectation is that all cryptocurrencies will rally in the upcoming market cycle, but prominent names in the space expect the gains to be concentrated in Bitcoin.

Raoul Pal, chief executive of Real Vision and a former Goldman Sachs executive, has spoken on the matter on a number of occasions.

The investment veteran has said that he sees a world of cryptocurrency and blockchain as the future, but sees Bitcoin as the “call option” on that potential world coming to fruition.

That’s to say, if cryptocurrencies go mainstream, BTC will likely be the one leading the charge.

In other trending Bitcoin News today:

Bombshell Report Shows 36% of Institutional Investors Already Own Crypto Assets Such As Bitcoin and Ethereum

A new survey from the global asset management giant Fidelity shows 36% of institutional investors already own crypto assets.

Four out of five investors who are not yet in the market say they’re interested in holding cryptocurrency in the future and find at least one aspect of the emerging technology appealing.

“Almost 80% of institutional investors find something appealing about digital assets, with the three almost equally compelling characteristics across U.S. and European investors being: uncorrelated to other asset classes (36%); an innovative technology play (34%); and high potential upside (33%).”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

When retail money really starts flowing back into crypto I wouldn’t be surprised to see a $10T+ market top

— Joseph Todaro (@JosephTodaro_) June 10, 2020

Fund Manager: Crypto Could Soon Rally 4,000% to a $10 Trillion Market Cap

https://cointelegraph.com/news/report-less-than-6-accounts-control-80-of-wealth-on-top-stablecoins

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Bloomberg Intelligence senior commodity strategist Mike McGlone says he expects the big Bitcoin rally to continue in 2021.

In a new December outlook on BTC, McGlone says Bitcoin’s new line of resistance in 2021 will likely be at the $50,000 mark.

“Bitcoin will maintain its propensity to advance in price into 2021, in our view, with macroeconomic, technical and demand vs. supply indicators supportive of $50,000 target resistance, implying about a $1 trillion market cap. The $10,000 mark has shifted to a critical support level after serving as the crypto’s resistance mark since 2017.”

The report says Bitcoin is “far from overheated,” noting its foundation of support may be greater than back in 2015 through 2017 due to increasing institutional investments and a drop in new supply due to this year’s halving.

“The year 2020 will likely be looked back upon as key to Bitcoin’s mainstream evolution, in our view. Strong inflows in regulated exchange-traded products, futures open interest, addresses used and allocations from corporate treasuries, and some billionaires, solidify the 2020 annual price of about $10,000 as foundation support…

Demand measures of Bitcoin and crypto assets appear to be gaining endurance for more of the same in 2021. From the Office of the Comptroller of the Currency (OCC) allowing banks to provide crypto-asset custody services to PayPal onboarding payments, clearing 2020’s volatility hurdle likely widens the path toward mainstream adoption.”

McGlone says the macro economy will also continue to serve as a headwind fueling both BTC and gold in the new year.

“The digital newcomer and old guard quasi-currencies stand to be primary beneficiaries of unparalleled quantitative easing, rising debt-to-GDP and an increasing focus on modern money theory.”

In other trending Bitcoin News today:

CEO of $7.4 Trillion Asset Manager BlackRock Says Bitcoin Could Evolve Into Global Market Asset

Larry Fink, CEO of the world’s largest money management firm, BlackRock, appears to be changing his once highly skeptical tune on Bitcoin and cryptocurrency.

Speaking to former Bank of England governor Mark Carney at the Council on Foreign Relations, Fink said BTC may be on a path toward evolving into a global asset.

“Bitcoin has caught the attention and the imagination of many people. Many people are fascinated by it. Many are excited about it. But it’s still untested, it’s still a pretty small market relative to other markets. We see these big, giant movements every day… it’s a thin market.

So, can it evolve into a global market? Possibly. Certainly by evidence of the imaginations of so many who want to learn about it or are interested in it, to me, is a very telling sign.”

Fink also says the advent of digital currencies could weaken the status of the US dollar as a reserve currency for non-Americans.

“Having a digital currency has a real impact on the US dollar because having a digital currency makes the need for the US dollar less relevant for international holders of dollar-based assets. Does it change the need for a dollar reserve currency if there was a true digital currency that was separated from dollar-based assets?”

In late November, BlackRock chief investment officer Rick Rieder also made a bullish case for Bitcoin, saying that the digital asset is here to stay and is well on its way to replacing gold as a primary store of value.

“Do I think it will take the place of gold to a large extent? Yeah, I do because it’s so much more functional than passing a bar of gold around.”

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Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

#bitcoin stock-to-flow cross asset model-if BTC doesn’t break it’s historical path-BTC market cap will approach gold market value $5-10T in 2021-2024-and approach real estate market value $10-100T in 2024-2028

-after 2028 we can no longer interpolate and enter uncharted waters pic.twitter.com/DGf6T87Tdf

— PlanB (@100trillionUSD) December 4, 2020

https://cointelegraph.com/news/bitcoin-whales-selling-to-institutions-as-grayscale-adds-7-188-btc-in-24-hours

https://cointelegraph.com/news/bitcoin-arrives-on-wall-street-s-p-dow-jones-launching-crypto-indexes-in-2021

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In other Bitcoin news today:

The Bitcoin (BTC) market has recently surpassed the activity levels of late 2017, when BTC started its historical rally that shot prices to an all-time high above $19,900

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🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ► http://binance.cryptonewsalerts.net

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

1/ Combining net $USDT & net $BTC flows

Reading chart: Left axis is net $USDT flows – net $BTC flows. So, for example, a $100M tether inflow & $100M btc outflow equals +$200M (both are bullish). In reverse, $100M tether outflow & $100M btc inflow equals -$200M (both are bearish) pic.twitter.com/KsPEK3Y87N

— Ceteris Paribus (@ceterispar1bus) November 11, 2019

Massive volume in BitcoinGuess what? Things are not as they may seem.Shrinking Spot market volume has been more than compensated for. Futures have swallowed the Spot market. BTC 90 day Volume was recently 40% more than the 2017/18 peak.

This has powerful implications. pic.twitter.com/LXRoF9NXoG

— Charles Edwards (@caprioleio) November 11, 2019

Bitcoin 90-Day Volume Breaks Bullish Above Peak 2017 Levels