Former BlackRock VP Sees Crypto Market Reaching $6 Trillion to $12 Trillion

Former BlackRock vice president John Gillen outlined possible crypto market capitalization scenarios of $6 trillion to $12 trillion, conditional on a confirmed bull market and a move above long-term resistance levels.

Gillen also described a potential $2 trillion to $10 trillion addition to the market’s value over a short period. He presented that increase separately from his range of possible total market capitalization outcomes.

For the market to break higher, Gillen said it would need to clear historical five-year resistance levels, hold above them and then move higher. He said the eventual outcome could fall anywhere from $6 trillion to $12 trillion.

The outlook comes as leading crypto assets have recorded losses. Total crypto market capitalization was $2.89 trillion, down 1%, and liquidations had risen more than 34%.

A $10 trillion market capitalization would be more than three times the $2.89 trillion level cited at the time of the market update.