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The crypto market rally saw Bitcoin surpassed its 2017 all-time high and set a new record last week above $64,000. While the rally has attracted a lot of interest from potential investors, some are questioning if it might be already too late to enter into the market considering the current sky-high prices of most cryptos.
However, StormGain CEO Alexander Althausen believes that it’s not too late for new investors to enter as he expects the long-term growth of the crypto market. In fact, he predicted that Bitcoin, the largest cryptocurrency by market capitalization, could soar past the hundred thousand dollar mark in four years.
“Of course, it’s not too late,” Althausen told BeinCrypto, according to Yahoo Finance.” Cryptocurrency is still in its infancy. It is becoming more widely available and soon will not be a privilege or choice but part of everyone’s daily life. This is precisely the time to get ahead of the game.”
The growth of the market can be seen in the recent increase in trading volumes. “Cryptocurrency trading volumes are growing, and, as you know, the crypto market’s capitalization just recently exceeded $2 trillion,” the StormGain CEO noted. “Bitcoin’s capitalization is $1.1 trillion, Ethereum (ETH) is in second place at $245 billion, and Binance coin (BNB) is third at $58 billion.”
He also explained that there is a massive growth potential for the industry considering that only 0.01 percent of the population own crypto at the moment. “With only one in 1,000 people having cryptocurrencies right now, the level of distribution of cryptocurrencies is 0.01%,” Althausen explained. “The cryptocurrency market’s potential for development is huge. Given the current market situation, just imagine a 1,000-fold increase in distribution.”
The increasing use of blockchain could also drive crypto prices upward. “Everyone is trying to find new uses for blockchain, making the product continuously more complex,” he added. “All in all, given the current market share and turnover, bitcoin could grow by more than 1,000 times.”
While Althausen admitted that predicting price movement is difficult, he believes that BTC could rise almost three-fold in just four years. “In the long-term, we can certainly expect bitcoin’s price to rise. By 2025, the price may reach $150,000,” he said. At the time of writing, Bitcoin traded at $57,007 based on Coinmarketcap data.
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