In an August 1, 2024, Barchart article on Bitcoin, I concluded:
While Bitcoin has a $1.3 trillion value, and all cryptos are worth around $2.4 trillion at current prices, the asset class remains small compared to stocks, bonds, commodities, and fiat currencies. The current size is a mixed blessing, as, on one hand, there is considerable room for growth. On the other hand, the higher the market cap rises, the greater the odds of governmental and legislative actions to protect control of the money supply. Therefore, expect the boom-and-bust price action to continue. The current upside target is the $100,000 level and a $3-4 trillion market cap. The company with the leading market cap is currently Apple, worth around $3.5 trillion. If Bitcoin or the asset class exceeds this level, expect government forces to slow the ascent with a coordinated effort to create another bust period.
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