🔥🔥🔥 #ripple CEO Envisions $5 Trillion #CryptoMarket Amid Regulatory Optimism
Ripple CEO Brad Garlinghouse is #bullish on the crypto market's future, projecting a potential $5 trillion total market capitalization by the end of 2024.
Garlinghouse highlights key factors driving his optimism, including the anticipated launch of US-based Bitcoin exchange-traded funds (ETFs) and the upcoming Bitcoin halving event.
Bitcoin halving events historically correlate with price upticks, as seen after the 2020 halving which propelled Bitcoin's price from $8,590 to approximately $69,600. This surge contributed to the crypto market cap's exponential growth, reaching $2.72 trillion by April 8, 2024.
Garlinghouse's optimism is supported by signals from Rep. Patrick McHenry suggesting regulatory clarity for cryptocurrencies, which could attract traditional industry players and foster stability.
Despite regulatory challenges, Ripple remains optimistic, reflecting industry-wide hopes for progress in addressing regulatory hurdles.
Garlinghouse's outlook aligns with broader industry sentiment, with experts anticipating Bitcoin's price to exceed $100,000 by year-end. Institutional interest in crypto-based spot ETFs, including Ethereum-focused ones, further bolsters this optimism.
Major venture capital firms continue to invest heavily in crypto and Web3 projects, indicating the enduring value and potential of the crypto asset class.
Source - beincrypto.com
