Many friends are worried and curious, is there still room for growth in the cryptocurrency market now?
Today we analyze from an interesting perspective, the cryptocurrency market has so far experienced three clear and complete rounds of bull markets.
The first round bull market: in December 2017 at the peak, the total market value of cryptocurrencies reached approximately 506 billion USD, surpassing global investment giants for the first time, Berkshire Hathaway led by Buffett.
At that time, the bull market was driven by the ICO wave initiated by Ethereum, and projects like Ether, Litecoin, Ripple, and EOS became the top projects that gained immense fame.
The second round bull market: based on the peak in November 2021, the total market value of the cryptocurrency market officially surpassed: 3 trillion USD!
In the context of the pandemic, the cryptocurrency market has become a global sensation. With Grayscale leading the way, institutions have entered the market. Although there were not many institutions entering at that time, it has already made global capital smell the scent of wealth.
The third round bull market: this is where we currently stand. As of September, the total market value of cryptocurrency has reached 3.84 trillion USD, which is not much different from the previous peak.
The definition of this bull market globally is completely different; it has shifted from being niche to mainstream. It has transformed from institutions being cautious to a competitive rush to enter the market. It has evolved from a few daring institutions to a global movement, becoming part of the strategic reserves of some countries.
Not only has the Bitcoin ETF been approved, but the Ethereum ETF has also been approved, and a number of secondary mainstream ETFs are on the way. More importantly, there are no longer any obstacles on the road to cryptocurrency advancement; all previous resistance has now become a driving force.
Looking solely at the total market value of the cryptocurrency industry, the first round environment was extremely severe, reaching 506 billion USD. The second round environment was tentative, reaching 3 trillion USD, showing a full sixfold increase.
This third round environment is unprecedented with the floodgates wide open and driven by policy. It is evident that the current total market value of 3.84 trillion USD will not be the peak of this bull market.
The current cryptocurrency market has existed for over a decade, but in terms of a completely new financial landscape, the cycle is still in its early stages, in its infancy.
For a growth increment market, even though the market cap becomes larger, the growth rate will slow down. However, at present, it is clear that we have not yet reached a stage where growth is impossible. In my view, it is an unprecedented and prosperous growth period!
