ETH’s market capitalization hinges on the success of tech giants
Well-known representative of the crypto community Kaleo predicts ETH growth to $ 1 trillion
He thinks tech stocks are showing ETH’s potential
This is facilitated by a bullish rally due to massive distribution.
International consortium of news organizations developing transparency standards.
According to crypto trader and ETH maximalist Kaleo, during the current bull rally, ETH will hit an all-time high, exceeding $ 1 trillion
If tech stocks are showing such phenomenal gains, then ETH could do something similar. While anyone familiar with the cryptocurrency industry knows there are plenty of such predictions, they don’t always come true. Will it be different this time?
Why is this so crazy to believe considering the exorbitant euphoria and rapid inflation in the traditional tech market?
– K A L E O (@CryptoKaleo) August 30, 2020
Rise of the tech sector
Last week it became known that the shares of the American technology sector reached $ 9.1 trillion, which is $ 200 billion more than the value of all European shares combined. The so-called “Big Five” – Apple, Amazon, Microsoft, Alphabet and Facebook – account for 23.8% of the total S index&P 500.
Thanks to these promotions, S&P 500 Bounced More Than 55% From March Low, With Morgan Stanley Forecasting Apple To Well Beyond Its $ 2 Trillion Valuation.
According to Kaleo, ETH could reach similar heights in the long term. Perhaps this forecast is just a joke, however, the question is quite reasonable..
Can ETH Ultimately Beat Apple or Amazon in the Crypto Market and Reach Indonesian Economy-sized Market Cap?
Will ETH be able to repeat this success??
To answer this question, it is important to understand that such market dynamics will be associated not so much with the rise of ETH as with the growth of the entire cryptocurrency market. This will be facilitated by the massive spread of cryptocurrencies, leading to an increase in market capitalization similar to the bullish rally of 2017.
Widespread use is no longer fiction and optimistic posts on Reddit. In particular, in many developing countries, cryptocurrency has already turned from an experimental unit of exchange to an essential element of the economy..
In countries such as Venezuela, Nigeria and Zimbabwe, many people prefer cryptocurrencies to fiat currencies. For example, in Venezuela, where cryptocurrency has reached the highest level of public acceptance, the number of DASH users is expected to surpass one million this year..
If such a model continues to spread across the developing world, and regulators create a solid foundation for cryptocurrencies, it is likely that ETH could even outperform Kaleo’s forecast..
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