According to crypto trading expert Michaël van de Poppe, the recent weeks have been tough for most assets in the cryptocurrency market. However, it seems that the industry may be on the road to recovery, with a goal of reaching a market capitalization of $2 trillion, a milestone last achieved in March 2022.

In a recent Twitter post, van de Poppe noted that the total crypto market cap has bounced back from a crucial level at $1.54 trillion. Based on his chart analysis, he believes that the market may continue to rise towards the important target of $2 trillion, which was previously lost in April 2022 after spending almost a year above it.

The overall market sentiment is improving, as seen by the increase in the market cap of the flagship decentralized finance (DeFi) asset, Bitcoin (BTC). It has crossed the $40,000 mark, with experts predicting further gains as the date of its next halving event approaches.

At the time of writing, the total crypto market cap stands at $1.59 trillion, showing a 2.73% increase over the last 24 hours. However, it has seen a decline of 1.85% over the past week and a 4.22% drop in the monthly chart, according to data from CoinMarketCap.

If van de Poppe’s predictions hold true, the overall crypto market cap could reach the $2 trillion mark in October this year. It may then continue to rise towards the coveted $3 trillion, which it came close to in November 2021 at $2.8 trillion.

It is important to note that investing in cryptocurrency is speculative and carries risks. Therefore, it is not considered investment advice. As always, when investing, it is crucial to understand that your capital is at risk.