Bitcoin price dips below $64,000 yet sentiment for a bullish future remains strong.
One analyst states Bitcoin will hit a total market cap of 8 trillion by 2030.
Known for many accurate predictions, the analyst says BTC price will hit $550,000 in 2030.
Silver-tongued analyst known for his many accurate predictions makes a bold statement for a bullish Bitcoin (BTC) price by 2030. According to this analyst, the price of BTC is set to hit $550,000 by 2023 with a total market cap of 8 trillion. Despite Bitcoin’s current dip below the $64,000, this analyst and many others see a highly bullish future for Bitcoin and crypto.
BTC Price Eyes $550,000 by 2030
In detail, the reputed and renowned crypto and Bitcoin analyst, Doctor Profit believes that Bitcoin is set to welcome an 8 trillion market cap by 2030 leading to a Bitcoin ATH of $550,000 when this event occurs. This prediction has led to intense discussion within the crypto community.
Bitcoin Market Cap to 8 Trillion by 2030?
In response, one user asks the analyst where the liquidity will arrive from to pump Bitcoin’s market cap to 8 trillion. To this, Doctor Profit responds saying that the possibility is not far-fetched as gold is up to 13-16 trillion in market cap and Bitcoin being digital gold can certainly amass 8 trillion by 2030.
https://twitter.com/DrProfitCrypto/status/1840485944870203522
The analyst then goes on to highlight the many aspects that could boost the price of Bitcoin (BTC) in the coming weeks and months which will reflect in the long-term bullish price action for the pioneer crypto asset. To start off, he mentions the strength of the Chinese stock market. He highlights how a strong Chinese market has always pumped the price of BTC.
Recently, the People’s Bank of China announced its $140 billion liquidity injection into financial markets. This bullish wave along with China’s strong market will likely pump BTC to much greater heights. Many reputed leaders in the crypto space have mentioned that the new cycle bull run will come from the East, and the latest market movement supports this expectation.
https://twitter.com/DrProfitCrypto/status/1840579422560149522
The analyst also mentions the $16 billion handover from FTX to its investors and retail, another bullish sign for the crypto market. He ends his message with transparent mentions of his long trade since $53,000 BTC price and $2,200 ETH price, once again hinting at the start of a bullish crypto season ahead.
The post $550,000 BTC ATH by 2030 Prediction Fuels Bitcoin Adoption as Analyst Shares 8 Trillion Market Cap Theory appeared first on Crypto News Land.
