Cryptocurrency is an evolving market that some may warn is a bubble. I tend to disagree. Bitcoin in itself may be a bubble that eventually begins a drastic downturn (which I still think we are many years away from), but the technologies being brought about by these cryptocurrencies and the other benefits of blockchain that we just scratching the surface of, are here to stay.
Currently the market cap of cryptocurrencies is roughly 170 billion. Sure that seems like a lot, but the overall product of the world is about 107 trillion dollars. This means that the cryptocurrency market currently only accounts for 1 percent of the existing forms of currency. As I see this as a clearly superior technology that has begun to make inroads, it will continue being adopted, so it is quite obvious that it is still in its infancy. If you take a look at what Russia/Putin announced today with the Cryptoruble, it is clear I am not the only one making such an observation.
Now there is a clear current limitation and that is that countries that are still developing or are third world do not always have internet access (last statistic I read was roughly 47% of the world is without internet). However, this has been a focus of a number of projects lately, between Google and Spacex and smaller ventures, so this will slowly come up. These countries are also not where the majority of the world product is. So let's say roughly 65% of the market cap of 107 trillion is the market that cryptocurrencies can target or replace, that would put us at about 2.5% of the market. That leaves a huge space where cryptocurrencies can continue to move into and why I think there is still a huge opportunity for growth in this sector. These types of numbers put us well into the early adopter phase.