The total Market Cap depends on the investors. In December 2017 there was no real regulation yet, and the total market cap went up to 660 billion. Since January 2018 regulation has scared of the criminal circuit. If you look back the total ask dropped from about 110 million to the range of 67 million per day. Even with good news a total market cap of max 300 billion is reached max . So we need a lot of new investors to reach a value higher than 350 Billion. Wall Street boys will not jump in because the risk are to high to guarantee the customers profit.
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So, basically you are saying we are in the gray area... between criminals using it and institutions... no man's land so to speak?!
Yes we are investing on the edge of good and evil ;-). You may call it gray. But what is the definition of good?