Benzinga - Fund manager and crypto analyst Dan Tapiero recently said that the market cap for Bitcoin (CRYPTO: BTC) could hit 14 figures.
In an interview last week, Tapiero said the market cap for BTC could reach up to $10 trillion from its current cap of $600 billion.
The analyst added that Bitcoin is likely to hit a price of up to half a million dollars under the current global economic circumstances.
"I've been saying the same thing for a while, and I think $300,000 to $500,000 is a good solid place, given the value of other assets sort in the world," he explained.
In regards to the combined value of all crypto assets, Tapiero said that the total market cap could soar by over 600% from current levels.
Also Read: Analyst Who Predicted May 2021 Crypto Crash Now Says Bitcoin Set To Surge To This Price By 2024
"My original thought was the space would go to $10 trillion in value. That's from $300 billion, a 30x in 10 years. I think that's going to be wrong now. I think the space will probably go much higher than $10 trillion because it's starting to encompass everything," he added. "It's not just money, store of value, programmable contracts, DeFi, NFTs, Stablecoins, it's everything."
At the time of writing, Bitcoin was trading at $30,328, up by 9% in the last seven days.
Meanwhile, pseudonymous analyst DonAlt noted that Bitcoin bulls have one more resistance level at around $32,000 to take out before a full-blown bull market takes shape. In a tweet on Friday, the analyst explained that a swift corrective move would likely follow a breakout rally at the $32,000 range.
Now Read: Analyst Predicts Bold Future For Bitcoin Amid Major Move From Central Banks
Image: Shutterstock
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.