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Cryptocurrency Market To Double In Size By Q4 2024 – According To Ripple CEO
The post Cryptocurrency Market To Double In Size By Q4 2024 – According To Ripple CEO appeared on BitcoinEthereumNews.com. The crypto industry’s growth is nothing short of groundbreaking, as it has advanced from just Bitcoin (BTC) and a few altcoins to a gigantic ecosystem housing different assets. With Bitcoin (BTC), the largest cryptocurrency in the market, exploding to new highs in March 2024, many experts speculate that the industry is still poised for more growth. Among these experts is Ripple CEO Brad Garlinghouse, who predicts that the crypto market capitalization will surge to $5 trillion, double its current market cap by the end of 2024. Let’s explore the reason for his speculation Why The Ripple CEO Believes Cryptocurrency Market Capitalization Will Surge To $5 Trillion The Ripple CEO’s first reason for coming to such a conclusion was the approval of the first Spot Bitcoin ETF by the United States Security and Exchange Commission (SEC) on January 10, 2024. The approval opened the way for fresh institutional investments to stream into the industry by exposing Bitcoin to a new set of investors, and the approval of the Spot ETFs hints at partial support of cryptocurrency by the agency. Also, there are high expectations from major financial players that there will be a reduction in interest rates from the Federal Reserve. This move benefits Bitcoin (BTC) because a low interest rate will significantly encourage investors to interact more with the coin, creating a surge in price and market cap. On the other hand, a high interest rate will scare away investors as Bitcoin (BTC) is considered risky and not ideal to hold in a high-interest rate environment. Therefore, even investors who decide to interact with it will take very low risk, but with low interest rates, investors would be willing to take higher risks to gain higher returns. The Ripple CEO also talked about regulatory crackdown as one of the crypto…
The post Cryptocurrency Market To Double In Size By Q4 2024 – According To Ripple CEO appeared on BitcoinEthereumNews.com.
The crypto industry’s growth is nothing short of groundbreaking, as it has advanced from just Bitcoin (BTC) and a few altcoins to a gigantic ecosystem housing different assets. With Bitcoin (BTC), the largest cryptocurrency in the market, exploding to new highs in March 2024, many experts speculate that the industry is still poised for more growth. Among these experts is Ripple CEO Brad Garlinghouse, who predicts that the crypto market capitalization will surge to $5 trillion, double its current market cap by the end of 2024. Let’s explore the reason for his speculation Why The Ripple CEO Believes Cryptocurrency Market Capitalization Will Surge To $5 Trillion The Ripple CEO’s first reason for coming to such a conclusion was the approval of the first Spot Bitcoin ETF by the United States Security and Exchange Commission (SEC) on January 10, 2024. The approval opened the way for fresh institutional investments to stream into the industry by exposing Bitcoin to a new set of investors, and the approval of the Spot ETFs hints at partial support of cryptocurrency by the agency. Also, there are high expectations from major financial players that there will be a reduction in interest rates from the Federal Reserve. This move benefits Bitcoin (BTC) because a low interest rate will significantly encourage investors to interact more with the coin, creating a surge in price and market cap. On the other hand, a high interest rate will scare away investors as Bitcoin (BTC) is considered risky and not ideal to hold in a high-interest rate environment. Therefore, even investors who decide to interact with it will take very low risk, but with low interest rates, investors would be willing to take higher risks to gain higher returns. The Ripple CEO also talked about regulatory crackdown as one of the crypto…
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