ETF head Matt Hugan: in 2018, the market for crypto currency will grow to a trillion dollars[↻70%]

After 15 years in the ETF industry, Matt Hugan changes his attitude to crypto-currencies, because in his opinion, they will transform the investment world, as ETF did over the last decade.

The Trillion Dollar Market

In a recent interview with Bloomberg, Matt Hugan described the Crypto-currency as "technology in the initial stage", the capitalization of which in 2018 could amount to a trillion dollars.

The path to achieving $ 1 trillion is ultimately determined, "Hugan said. "It will not be simple and smooth, but I would not be surprised if we finish the year with a market capitalization of over $ 1 trillion." I also would not be surprised at the significant drawdown with which we will face the end of this path. "

Last year the crypto-currency market was ready to cross the $ 1 trillion mark, but the market capitalization reached a maximum of $ 830 billion, followed by a series of large-scale corrections that reduced the total market volume to $ 276 billion.

Hugan, who is currently the executive director of Bitwise, described # bitcoin as millennium gold and a safe asset. Although bitcoin is trying to use as money, until it accurately succeeds as a means of accumulation.

Capitalization of cryptology

Over the past week, the crypto-currency market declined sharply, which compensated for an equally significant increase in the previous seven-day period. According to CoinMarketCap, at the time of writing, the total market capitalization of bitcoin and 1,518 other crypto-currencies was $ 435 billion.

As we reported earlier, there were no obvious catalysts for this, and this is a sign of profit. Speculators are slowly returning to the market due to favorable legislative signals from countries such as the United States and South Korea.

Although many analysts still believe that crypto-currencies are a bubble, they believe that in the short term the market will continue to grow. As pointed out by Hugan, the way higher will not be easy, double-digit interest-rate recessions are possible, which are likely to remain the main market trend.

For those who doubt the idea of ​​a multi-trillional crypto-currency market, it is important to keep in mind that technological growth is usually exponential. Obviously, the # crypto currency or the underlying technology behind it is just starting to take off.