Analyst Sees Bitcoin Reaching $8 Trillion Market Cap: What Price Will This Surge Bring?

Ronaldo Marquez

9 months ago

3 mins read

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Bitcoin (BTC) reached a two-month high of $66,500 last Friday, fueled by fresh market liquidity and renewed investor confidence in risk assets following the US Federal Reserve’s (Fed) interest rate cut on September 18.

However, one analyst predicts that the cryptocurrency’s market capitalization and price could grow significantly in the coming years if the current bullish trends continue.

Bitcoin Price Could Hit $550,000 Amid Market Changes

In a recent social media post, crypto analyst Doctor Profit outlined a bullish outlook for Bitcoin, predicting that its market capitalization and price could significantly increase if past growth patterns hold over the coming years.

Doctor Profit argues that the largest cryptocurrency on the market could reach a market capitalization of $8 trillion, which he estimates would be equivalent to a price of around $550,000 by 2030.

Doctor Profit’s analysis compares Bitcoin’s potential to gold, which currently has a market cap of around $16 trillion. He bases his calculations on several factors, including new liquidity inflows and movements in the gold market.

Specifically, the analyst estimates that the market capitalization of gold could rise to between $13 trillion and $19 trillion, strengthening Bitcoin’s position as a viable alternative asset.

His analysis also includes considerations of inflation and the substantial amount of Bitcoin that is effectively lost. With estimates suggesting that about 15 million BTC are still in circulation and around 6 million BTC lost forever, the scarcity of Bitcoin could drive its value higher.

In addition, Doctor Profit expects the M2 money supply – the Fed’s estimate of the total money supply, including the cash people hold in their hands – to increase from $21 trillion to $33 trillion by 2028, which should further boost BTC’s price over that period.

Analyst Expects Significant Corrections Ahead For BTC

The analyst also discussed technical analysis, suggesting that while Bitcoin might face periodic corrections—a healthy occurrence in any upward trend—these should not be mistaken for bear markets.

Doctor Profit expects 3-4 significant corrections of 40-50% as Bitcoin approaches milestones such as $120,000, $160,000, and $220,000, notably surpassing BTC’s current record high of $73,700 reached in March this year. However, he emphasizes that these corrections represent opportunities rather than risks for long-term investors.

Doctor Profit also clarified that a long-term investment strategy can include active trading and holding. The analyst believes that corrections should not deter investors but rather be viewed as chances to buy at lower prices.

At the time of writing, the largest cryptocurrency on the market is trading at $63,590, recording losses of 3.4% in the 24-hour.

Featured image from DALL-E, chart from TradingView.com

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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