Third Quarter 2024 Summary
Combined Capitalization:
The combined market capitalization of bitcoin (BTC) and ether (ETH) at the end of Q3 2024 was approximately $1.6 trillion (USD).
This value represents almost half of its all-time high value of $2.9 trillion.
Trend Analysis:
The analysis is based on a logarithmic regression channel that measures the long-term growth of the combined market capitalization of BTC and ETH.
This model includes diminishing returns and is represented by three value lines: lower (green), upper (red) and fair/reasonable (yellow).
Future Projections
Seasonal Trends:
According to Hashdex, if the seasonal trend continues, we could see a return to fair value and an acceleration towards overvaluation by late 2024 or early 2025.
This behavior would be similar to the patterns observed in 2020 and 2017, coinciding with the end of Bitcoin's recovery phase.
Projected Capitalization:
The combined market cap of BTC and ETH is expected to exceed $2.9 trillion between late 2024 and early 2025.
This increase in capitalization would imply a significant increase in the prices of both cryptocurrencies.
Conclusion
Hashdex analysis suggests an optimistic outlook for Bitcoin and Ether in the short to medium term, with a potential acceleration in their values towards the end of 2024 and early 2025. This projected growth could offer significant opportunities for cryptocurrency investors.
