Blockchain CEO: The cryptocurrency market will reach $ 1 trillion in 2018

nBuzz comments: CEO of Blockchain, a well-known cryptocurrency digital wallet provider, has said publicly recently that the total market value of the global cryptocurrency market will reach $ 1 trillion in 2018. Still others claim that the market value of Bitcoin alone will reach that level. However, many traditional financial institutions are not optimistic about the development of this market. In summary, while there are many voices about the trend of cryptocurrencies, it is important for potential investors concerned with this area to keep in mind that they can not be superstitious experts in making investment decisions, and their own observations and reflections remain important.n
nTranslation: Inan
CEO of Blockchain, one of the world’s largest digital wallet platforms, told CNBC on Monday that the total value of all crypto-currencies around the world will reach $ 1 trillion in 2018.n
According to industry website Coinmarketcap.com, there are over 1,300 cryptocurrencies worldwide, such as bitcoin and ether, with a combined market capitalization of more than $ 587 billion.n
Peter Smith, chief executive of Blockchain, a digital wallet provider that stores cryptocurrencies, said cryptocurrency market values ​​could double next year.n
Smith told CNBC on Monday’s television interview:n
n”I think the total market capitalization of digital assets will reach $ 1 trillion in 2018. I’m not sure if it will stay that way but I think this milestone will be exceeded.”n
nBitcoin’s total market capitalization is about 317 billion U.S. dollars, accounting for more than 50% of the entire cryptocurrency market. The market capitalization of the second-largest digital currency, Ether, was 68.9 billion U.S. dollars. Prices have risen sharply this year both.n
Some market participants think the Bitcoin market alone will be worth about $ 1 trillion in the near future. Ronnie Moas, founder of Standpoint Research, told CNBC on Monday that the price of bitcoin could reach $ 400,000 and its market capitalization could eventually reach $ 1 trillion.n
However, bitcoin is similarly criticized. Jamie Dimon, chief executive of JP Morgan, calls the cryptocurrency “fraud,” saying his investors are “stupid.” Deutsche Bank also recently warned that bitcoin could collapse next year, posing a risk for the broader financial markets.n

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