Crypto currency markets are expected to show a rapid increase in value by the end of this year, says a CEO of a top exchange, who estimated the value of the market to reach $1 trillion.
CEO and founder of Kraken, Jesse Powell said that the crypto currency market will continue to rise, despite losing value this year. The bitcoin has fallen below $7000 and people are concerned but according to Powell, the trends will reverse and the market will reach $1 trillion in valuation.
$1 trillion is a huge number but it is true for according to Jesse, that the figures are going to touch the trillion mark. According to Jesse, the markets are going to continue to see an acceleration and will continue to grow, even though there have been very drastic pull backs during recent times.
It is also surprising that young individuals are now graduating in crypto currency and according to Jesse, these kids are going to become the future of the currency. He also said that the currencies are going to experience rapid growth as 2018 progresses.
While the trillion mark might surprise some, the crypto currency market is already valued $417 billion. The market already hit a new high of over $800 billion during early this year but it has fallen dramatically after the big crypto currency sell off.
Even though the bitcoin and other currencies are currently suffering, the trends will reverse and the markets are going to show exponential growth. As of now, there are many institutions and agencies that are discouraging people from buying the currencies. The top regulators at European Union have also warned about the potential risks linked with buying crypto currency. As consumers become weary of the currencies, traders and investors also show skepticism about its potential. However, Jesse believes that the growth in crypto currency is yet to come and the markets will rise above and beyond their true values.
We are already in February of 2018 and while crypto currency has been showing a decline during recent times, it is going to surge inevitably in the near future.