A top crypto analyst and trader says Bitcoin and the rest of the crypto markets are on the cusp of a massive breakout that can push the valuation of all digital assets to $10 trillion.<\/p>\n
Justin Bennett tells his 73,600 followers that the TOTAL chart, which tracks the market capitalization of all crypto assets, is threatening to take a crucial resistance area.<\/p>\n
Total crypto market cap is holding steady below resistance. $2.4 trillion is the level to break. $2.44 trillion to be safe.<\/p>\n
At time of writing, TOTAL is trading at $2.33 trillion.<\/p>\n
Bennett predicts that once TOTAL takes out its final resistance area, the skies are clear for a rise to $10 trillion in a matter of months.<\/p>\n
Total crypto market cap is testing its May trend line. Break that and carve fresh all-time highs, and we just might get that $10 trillion market cap in early 2022. Weekly chart.<\/p>\n
Looking at Bennetts chart, the trader expects TOTAL to reach a $10 trillion valuation by March 2022.<\/p>\n
As for the catalyst that could fuel TOTALs rise to new all-time highs, Bennett says that Bitcoin must lead the charge.<\/p>\n
I think its a bit naive to doubt the potential of a $10 trillion crypto market cap in the next three to six months. If BTC breaks $65,000, the momentum shift will be fierce. Plus, the total market cap has already done a 20x since March 2020. Whats another 4.2x?<\/p>\n
Note that I said, if BTC breaks $65,000.<\/p>\n
Thats crucial! As bullish as Ive sounded lately, everything hinges on Bitcoin trading above $65,000 this year.<\/p>\n
Featured Image: Shutterstock\/Mykola Holyutyak\/Dario Lo Presti<\/p>\n
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