The entire cryptocurrency market capitalization is a toddler when compared to the global markets like the stock market and the commodity market. considering where Bitcoin started, the whole ecosystem have come a long way since the past decade.
Bitcoin has been the dominant cryptocurrency for long now, I think that could change in the future. For the market to grow large and compete with global market, its becoming clear that other cryptocurrencies might rise to compete with the Bitcoin's marketcap. Top players from the traditional market need to get involved in cryptocurrency and issue decentralized products, the space need a lot of attention at this time. Such close competition could be setting the stage for a multi trillion crypto market.
But then, what is uncertain is regulation, can cryptocurrency grow into a multi-trilion market without the proper regulations?
What are you basing this off of? What are you seeing that is showing that other cryptocurrencies are on their way to becoming as large or even better than bitcoin? I sure don't see it. One other thing you need to realize is bitcoins blockchain is the only chain that has been truly tested at such high levels. There is no proof or positivity that if another chain gets to a 20k type level, that it will be able to handle it. A lot of this feels like mostly conjecture here.
Well I see where he is going with this. He is talking about decentralization and what bitcoin did until now, it sure opened a door for many others. Now it's a big question will we see some other coin getting close to btc and when will that happen, I see that as possibility, because as he said, the whole ecosystem have come a long way, and competition is getting harder every day! Now we can say that bitcoin will stay on top where it is for some time, but man nobody can't predict the future, and what can happen in certain situations, so at least we need to be opened for almost any possible scenario, even the one where some other coins are getting closer to btc market cap.