Ripple CEO Predicts Crypto Market Cap Reaching US$5 Trillion by the End of 2024

• Ripple CEO Brad Garlinghouse projects that crypto market capitalization will reach US$5 trillion by the end of 2024. The triggers are the Bitcoin halving and spot Bitcoin ETF.
• Garlinghouse also believes that clarity on crypto regulations in the US could come this year. So, this has the potential to spur the growth of the crypto market.
• His optimism is in line with broader bullish sentiment in the crypto market. This is reflected in increased investment by venture capital companies.

Ripple CEO Brad Garlinghouse expressed his optimism for the future of the crypto market. He predicts that the total crypto market capitalization could reach an extraordinary figure of US$5 trillion by the end of 2024.
In a recent interview with CNBC, he highlighted some of the driving factors behind this bullish prediction . This includes significant macroeconomic factors as well as regulatory momentum.

Will US Regulation Trigger a Crypto Market Boom?

The essence of his prediction is the launch of the first US-based spot Bitcoin exchange-traded fund (ETF) and the Bitcoin halving agenda this year.
Bitcoin halving itself is a built-in mechanism that reduces mining rewards by half every four years. The next halving agenda will cut mining rewards from the initial 6.25 Bitcoin (BTC) to 3.125 BTC. Historically, Bitcoin halvings are closely associated with price spikes. After the last halving occurred in May 2020, the price of Bitcoin appreciated substantially from US$8,590 to US$69,600 at the time of publication of this article.
Plus, CoinGecko data reveals that since the 2020 halving , the total crypto market capitalization has jumped more than 1,040% to US$2.72 trillion as of April 8, 2024, Asian market time.