Hi, I have just realized, that crypto was really overvalued in 2017 and probably we will not see these prices again.
Look for example on Ethereum:
https://coincheckup.com/coins/ethereum/predictions - Ethereum ATH price was 1500USD it equals 4% of all M1 money in the world, that is lot of money!
Or people think that Bitcoin can reach 100,000USD - it equals 10% of all M1 money in the world.
Don´t you think that the hype of crypto is over?
The market cap estimate does not actually show all the money that entered the market. It only indicates the value that the coin would have if all the circulating supply was sold at market price at a given time (which is unattainable, because when a lot of people decide to sell the price will collapse). So a relatively small amount of money is enough to raise prices and therefore the market cap.