Chris Burniske, the founder of a blockchain venture capital firm called Placeholder, explained at the Etheral Summit that he expects a significantly stronger surge in the crypto markets in the next years. Bitcoin (BTC) has recently reached $7,000, the highest point reached by the digital asset in over 7 months.
Could this be the last bull run before $BTC coin market cap reaches the $1,000,000,000,000 level? Let’s examine to see what the prominent crypto-focused venture capitalist was seeing when he made these remarks that could very well pan out to be true.
Bitcoin Seems To Be Recovering
The negative 2018 seems to be already behind us and the market is starting to move in a positive trend. According to Burniske, Bitcoin could experience a surge that would take it to over $1 trillion dollar market capitalization. At the same time, he thinks that after the next bull market, Bitcoin would reach a coin market capitalization of $3 trillion.
“If volatility halves,” he said “the Bitcoin market cap could reach $1 trillion by 2021. All of crypto could reach $3 trillion by the next bull run.”
This BTC prediction is very bullish for Bitcoin’s price that has been growing over the past weeks and more than doubled its price since it bottomed back in December 2018. Although he is optimistic about Bitcoin, he is not certain if the next bull market started or not.
He believes that the market remains very bearish because there was no reaction when positive news broke. He specifically mentions the increase of $422 million raised by STOs in 2018 compared to $22 million in 2017.
He went on saying that sentiment in the market can change in a very rapid way. However, he said that the next bull market could be the last one to display such strong changes in the price of digital assets. There are different analysts that are also trying to bring prediction models to the crypto space.
According to Burniske, the more these models start to rely upon the more prices will begin to be predictable.
Bitcoin’s price is $7,113.43 BTC/USD exchange rate today. The real-time BTC market cap of $125.89 Billion currently ranks #1 with a chart dominance at 58.75%, daily trading volume of $9.26 Billion and live coin value change of BTC -3.03% in the last 24 hours.