The total value of the crypto market lost the $2 trillion threshold in April 2022 and has not been able to recover since then. However, some market analysts believe that this level can be regained within the next few months, especially in the early days of 2024, and it can even surpass this level by the time we enter 2025.
The Crypto Market is Heading Towards $3 Trillion as a Whole
Market analyst Michael van de Poppe, closely followed by the crypto world, recently shared his predictions about how the crypto market’s total value could move in the coming months and years, in addition to its movements so far. The analyst expects a recovery in the total value of the crypto market to surpass $2 trillion by 2024.
The analysis based on the graph of the total value of the crypto market by the analyst shows that it will reach $2 trillion in 2024 and will reach and even surpass the record level of $3 trillion by 2025. If van de Poppe’s prediction, which stimulates investors’ appetite, comes true, the total market value will exceed the previous record level of $2.77 trillion with an increase of 8% above the record level it reached on November 11, 2021.
According to van de Poppe, the total market value will reach the $2 trillion threshold immediately before or after the block reward halving of Bitcoin expected to take place in April 2024 and will decrease to the level of $1.2 trillion. After this decline, it will move upwards again to refresh the record and surpass the $3 trillion range.
The Current State of the Crypto Market’s Total Value
Data from crypto data platform CoinMarketCap shows a 1.39% increase in the total value of the crypto market in the last 24 hours, reaching $1.18 trillion.
One of the events that could be an important trigger for the increase in the total value of the crypto market is the upcoming Bitcoin block reward halving event expected to take place in April 2024. Van de Poppe and other market analysts emphasize that the largest cryptocurrency and altcoins will reach record levels after the block reward halving event. The general consensus is that BTC will surpass the $100,000 level, but there are also surprising price targets such as $1 million.
