As 2023 comes to a close, the eyes of crypto investors and enthusiasts are firmly fixed on the future, eagerly anticipating what lies ahead in the digital asset market. Despite a sluggish start to the year, the final months 2023 have proven favorable for the cryptocurrency landscape, with indications of a robust bull cycle in full swing.
Speculation and discussions about the potential impact of the ongoing bull run on the crypto market have been widespread. The latest contributor to this discourse is a crypto researcher known by the pseudonym Ether NasyonaL, who has shared insights into the current cycle and its prospective trajectory.
In a recent post on the X platform, analyst Ether NasyonaL presented an exhilarating projection for the digital asset market in the upcoming years. According to this industry expert, the total market capitalization of the crypto market could potentially soar to $8 trillion by 2025.
This optimistic forecast is grounded in Ether NasyonaL’s analysis of candlestick formations on the weekly timeframe across various market cycles spanning the past decade. Notably, the analyst identified three bull cycles since 2015, with the third cycle still in its nascent stages.
Crypto’s Historical Trends: Ether NasyonaL’s Insightful Analysis
Examining historical data, Ether NasyonaL noted that 155 candlestick bars were processed from the bottom to the local peak between January 2015 and January 2018, resulting in a market cap high exceeding $740 billion. Similarly, during the bull cycle between December 2018 and November 2021, 152 candlestick bars were processed, and the market cap peaked at $3 trillion.
Drawing from the analysis of the last two cycles, Ether NasyonaL speculates the possibility of a similar 150+ bullish candlestick pattern until October 2025, commencing from the bottom of November 2022. This projection suggests a prolonged continuation of the current bull run.
The analyst’s assessment implies that the ongoing bull cycle could propel the market cap to an unprecedented $8 trillion, reflecting an extraordinary nearly 400% surge from the current valuation of the cryptocurrency market.
Reflecting on the state of the crypto market in 2023, following the crypto winter in 2022, the market began the year with a valuation well below a billion dollars. However, momentum picked up throughout the year, driven significantly by the resurgence of Bitcoin, the leading asset in the sector.
As of the latest data, the total cryptocurrency market capitalization has reached $1.612 trillion, marking an impressive 113% increase over the past 12 months, according to TradingView.