{"id":645539,"date":"2024-10-01T03:30:55","date_gmt":"2024-10-01T03:30:55","guid":{"rendered":"https:\/\/www.wncen.com\/?p=645539"},"modified":"2024-10-01T01:33:52","modified_gmt":"2024-10-01T01:33:52","slug":"analyst-sees-bitcoin-reaching-8-trillion-market-cap-what-price-will-this-surge-bring","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/bitcoin-news\/analyst-sees-bitcoin-reaching-8-trillion-market-cap-what-price-will-this-surge-bring\/","title":{"rendered":"Analyst Sees Bitcoin Reaching $8 Trillion Market Cap: What Price Will This Surge Bring?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">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&#8217;s (Fed) <\/span><a href=\"https:\/\/www.wncen.com\/breaking-news-ticker\/breaking-fed-cuts-rates-bitcoin-and-markets-react-with-a-bang\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">interest rate cut<\/span><\/a><span style=\"font-weight: 400\"> on September 18.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, one analyst predicts that the cryptocurrency&#8217;s market capitalization and price could grow significantly in the coming years if the current bullish trends continue.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bitcoin Price Could Hit $550,000 Amid Market Changes<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In a recent <\/span><a href=\"https:\/\/x.com\/DrProfitCrypto\/status\/70203522\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">social media post<\/span><\/a><span style=\"font-weight: 400\">, 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.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">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.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/analysis\/solana-price-sol-holds-support-150\/\" target=\"_blank\" rel=\"noopener \">Solana Price (SOL) Holds Crucial Support Level: Is the Rally Still Alive?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Doctor Profit&#8217;s analysis compares Bitcoin&#8217;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<\/span><a href=\"https:\/\/www.wncen.com\/bitcoin-news\/is-bitcoin-heading-for-a-bear-market-analysts-weigh-in-on-the-price-struggles\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\"> gold market<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Specifically, the analyst estimates that the market capitalization of gold could rise to between $13 trillion and $19 trillion, strengthening Bitcoin&#8217;s position as a viable alternative asset.<\/span><\/p>\n<p><span style=\"font-weight: 400\">His analysis also <a href=\"https:\/\/x.com\/DrProfitCrypto\/status\/51818539\" rel=\"nofollow\">includes <\/a>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.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In addition, Doctor Profit expects the M2 money supply &#8211; the Fed&#8217;s estimate of the total money supply, including the cash people hold in their hands &#8211; to increase from $21 trillion to $33 trillion by 2028, which should further boost <\/span><a href=\"https:\/\/www.wncen.com\/news\/ethereum\/ethereum-bullish-adoption-four-high-rate\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">BTC\u2019s price <\/span><\/a><span style=\"font-weight: 400\">over that period.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Analyst Expects Significant Corrections Ahead For BTC<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The analyst also discussed <\/span><a href=\"https:\/\/www.wncen.com\/news\/dogecoin\/dogecoin-rise-3600-to-3-7\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">technical analysis<\/span><\/a><span style=\"font-weight: 400\">, suggesting that while Bitcoin might face periodic corrections\u2014a healthy occurrence in any upward trend\u2014these should not be mistaken for bear markets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">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&#8217;s current record high of $73,700 reached in March this year. However, he emphasizes that these <\/span><a href=\"https:\/\/www.wncen.com\/news\/bitcoin\/spot-bitcoin-etfs-btc-satoshi\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">corrections <\/span><\/a><span style=\"font-weight: 400\">represent opportunities rather than risks for long-term investors.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/news\/ethereum\/eigenlayer-founder-reiterates-support-for-ethereum-why-is-eth-struggling\/\" target=\"_blank\" rel=\"noopener \">EigenLayer Founder Reiterates Support For Ethereum, Why Is ETH Struggling?<\/a><\/div>\n<p><span style=\"font-weight: 400\">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.<\/span><\/p>\n<figure style=\"width: 1815px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/nfOIh8xx\/\" alt=\"Bitcoin\" width=\"1815\" height=\"858\"><figcaption class=\"wp-caption-text\">The 1D chart shows BTC&#8217;s price correction. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">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.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Featured image from DALL-E, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217;s (Fed) interest rate cut on September 18.\u00a0 However, one analyst predicts that the cryptocurrency&#8217;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.\u00a0 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. Related Reading: Solana Price (SOL) Holds Crucial Support Level: Is the Rally Still Alive? Doctor Profit&#8217;s analysis compares Bitcoin&#8217;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.\u00a0 Specifically, the analyst estimates that the market capitalization of gold could rise to between $13 trillion and $19 trillion, strengthening Bitcoin&#8217;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.\u00a0 In addition, Doctor Profit expects the M2 money supply &#8211; the Fed&#8217;s estimate of the total money supply, including the cash people hold in their hands &#8211; to increase from $21 trillion to $33 trillion by 2028, which should further boost BTC\u2019s 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\u2014a healthy occurrence in any upward trend\u2014these should not be mistaken for bear markets.\u00a0 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&#8217;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. Related Reading: EigenLayer Founder Reiterates Support For Ethereum, Why Is ETH Struggling? 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.\u00a0 Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":638117,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,485,656,679,6848,755,768,1119,1122,1144,8390,78790,6664,14690],"class_list":["post-645539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-chart","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-prediction","tag-bitcoin-technical-analysis","tag-bitcoin-trading","tag-btc","tag-btc-price","tag-btcusd","tag-btcusd-price","tag-btcusdt","tag-crypto","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Analyst Sees 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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. 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