Ex-BlackRock VP Says Total Crypto Market Cap Could Hit $10 Trillion This Cycle

Bitcoin and other leading altcoins are poised to outperform over the long term in price and market cap, according to a handful of notable market players whose predictions appear largely bullish. However, in order for the big bull to hit new highs, the overall performance of the crypto market must reflect growth, and John Gillen, a former BlackRock VP popularly known on X as “BitcoinJesusETH”, is convinced that said growth could be reflected in the total crypto market capitalization value.

‪In a recent interview on the popular crypto podcast Milk Road, the crypto proponent revealed his near-term expectations for the crypto market, saying that the current cycle could see total market cap hit $10 trillion.

“‪I think you can see between $2 trillion to $10 trillion market cap added to crypto in a pretty short order, and that would be a massive altcoin season, and I do think at some point that is coming.” He asserted.

However, the bullish predictions come with some conditions, one of which includes, the ‪the expectations that a bull market is fully confirmed. If that happens, the crypto proponent sees the market moving directionally from $3 trillion to $10 trillion. 

Gillen expanded on his bullish prediction, saying a confirmed bull run and a surge above historic levels could do wonders for the cryptocurrency market.

In his words:

“It could be $3 trillion to $6 trillion; it could be $3 trillion to $12 trillion. I don’t know where that ends up in this bull market, but that would be the expectation. Once we clear those key historical five-year resistance levels, confirm above it, and break out higher, I think you would see a very wild, explosive, and euphoric bull run in crypto.”

His assertions come as the market takes a notable hit, with leading cryptocurrency assets recording losses. Notably, liquidations are up more than 34%, while total market cap is down 1% to $2.89 trillion.