Chris Burniske: Bitcoin’s market cap to surge past $1 trillion

.Famous cryptocurrency venture capitalist and a partner at Placeholder VC, Chris Burniske, predicts that Bitcoin’s market cap can reach a 13 digit figure in the next bull run. Chris Burnsike makes this prediction by looking at BTC’s past performance at the year’s end.

According to Chris Burnsike’s chart, in every bull run Bitcoin’s price increase by 10 times. In 2016, market cap touched close to $10 billion, while in 2017 the market cap surpassed $100 billion. In 2018, the market cap resides a bit but if the general trend continues Bitcoin’s market cap will surpass $1 trillion.

Chris Burnsike further points out that it used to be “Bitcoin and 9 dwarves” while commenting on the top 10 cryptocurrencies apart from Bitcoin. But according to Chris, the other altcoins are gaining to bitcoin.

If the venture capitalist’s prediction of a $1 trillion market valuation for Bitcoin hits, then the cryptocurrency’s price would be $50,000. That is a 9.5 times increase than the current price of Bitcoin. And if the market share of Bitcoin remains at 53.2%, the combined valuation of altcoins will be greater than $900 billion.

Citing his own tweet, Chris tweeted,

“Market runs of faith”

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