Yesterday, on April 11, the cryptocurrency market deteriorated even more after concerns over rising inflation and interest rates by the US Federal Reserve affected the global financial markets.
Moreover, even today the global market capitalization has dropped to $1.85 trillion accounting for a 4.97% decrease over the last 24hrs.
Crypto, One Of The Fastest Growing Asset Class
Raoul Pal, former Goldman Sachs Executive, is too bullish about the crypto market calling the crypto industry one of the fastest-growing asset classes in human history and expects the market to witness a massive growth by 2030.
In an interview with Scott Melker, Macro guru Raoul Pal says that right now there are many altcoin projects that are gaining attention, hype and excitement will eventually collapse as they fail to accumulate adoption and he also says this is normal.
While in the interview, he is seen quoting that “What we’re seeing is the market figuring out that it’s no longer good enough just to be a faster, cheaper alternative to Ethereum, or whatever it may be – more private than Bitcoin. What people are starting to see, and I’ve been definitely having conversations with people at the protocol layer, talking about, ‘Okay, what can we be known for on this chain?’
Raoul Pal also adds up saying “People are going to split down to use cases, I think. So if you’re really fast and you’re not super decentralized and you’re very cheap, then you’re very useful for the securities industry because they have massive volume and they don’t care about decentralization at the level of which private money does…”
On the other hand, though many projects don’t sustain for the long term, according to Pal there are many unparallel adoption curves for the crypto markets over the next 7 years. He believes markets will grow 100x from the present level hitting a $200 trillion market cap, even if the current market situation is not positive.