- Major cryptocurrencies and memecoins drove the current bull run, with Bitcoin nearing $62K.
- Experts predicted that the crypto market could reach up to $100 trillion.
The past week has been a rollercoaster for the crypto market, starting with the first presidential debate, which impacted the market positively, despite neither candidate discussing crypto directly.
Then there was the SEC, which faced setbacks in various legal battles, including cases against Consensys, Binance [BNB], and Ripple [XRP].
Additionally, there’s this ongoing buzz around the potential approval of an Ethereum ETF and the recent filings by two asset managers for a Solana ETF.
YouTuber Scott Melker best put it when he said,
“This has been one of those weeks where a decade happens in a week.”
Good day for the crypto market!
As of the 1st of July, the crypto market turned all green, with daily increases of over 2% across many coins. Bitcoin [BTC], the leading cryptocurrency, rose by 2% in the past 24 hours, nearing the $62K level mark.
Commenting on this surge, Dan Tapiero, Founder of 1Roundtable Partners, shared his insights in a recent episode of “The Wolf of All Streets” podcast, saying,
“I think there are plenty of Bitcoin holders who own Bitcoin, and they will be benefitting. And, I definitely see us moving up north to sort of $150,000 on this run probably in the next 18 months.”
Initially, Tapiero predicted the crypto market could achieve a total market cap of $10 trillion. However, due to recent developments and rapid sector growth, he has significantly revised his estimate.
Now, he believes the market could potentially reach $30 trillion, $70 trillion, or even $100 trillion in the future.
He also mentioned that within 18 to 24 months, the market could realistically reach the $10 trillion mark.
This was further confirmed by CoinGecko’s recent X (formerly Twitter) post, which noted,
“Total #crypto market cap is up 4% to $2.46T today as #Bitcoin reclaims $63K. Are you buying, selling, or HODL-ing?”
Providing the reasons behind the upcoming bull run, an X account — Mystery of Crypto — explained,
Source: Mystery of Crypto/X
Memecoins can’t be overlooked
However, it’s important to note that besides major cryptocurrencies, memecoins are also playing a significant role in pushing the crypto market.
This was further confirmed by CoinMarketCap’s recent trending coins, which included three memecoins. One of the most prominent being Dogecoin [DOGE], which saw a 2.22% increase in the past 24 hours.
Source: CoinMarketCap
Sharing a similar line of thought, @cryptosanthoshK noted,
“I just feel like we are gonna see both memecoin and altcoin season together.”