BlackRock Alum Forecasts $10 Trillion Crypto Market Cap

A former executive at BlackRock, John Gillen, has predicted that the total cryptocurrency market capitalization could reach $10 trillion in the current cycle. Gillen, who is popularly known as 'BitcoinJesusETH' on social media, made this assertion in a recent interview on the crypto podcast Milk Road. He believes that a bull market is necessary for the crypto market to reach this target, and that a confirmed bull run would lead to a significant increase in market capitalization.

Gillen thinks that the market could add between $2 trillion to $10 trillion in a short period, which would be a massive altcoin season. He also mentioned that once the market clears the five-year resistance levels, it would see a 'wild, explosive, and euphoric bull run in crypto'. The current market capitalization is $2.89 trillion, and the market has taken a hit with leading cryptocurrency assets recording losses.