Doctor Profit predicts that Bitcoin could reach a market value of $8 trillion, or about $550,000, by 2030. The analyst estimates that the market value of gold could rise to between $13 trillion and $19 trillion, making Bitcoin an alternative asset.

The popular analyst expects the M2 money supply, the Fed's estimate of the total money supply, to increase from $21 trillion to $33 trillion by 2028. With this data, the long-term BTC price forecast could rise further.

“Drops Are Bitcoin Buying Opportunities”

The crypto expert also discussed technical analysis, saying that Bitcoin may face periodic corrections, but these price fluctuations should not be a cause for concern.

Doctor Profit expects a 40-50% correction as Bitcoin reaches key milestones like $120,000, $160,000, and $220,000. According to the analyst, any potential Bitcoin pullback is a buying opportunity. Profit expressed his views on the subject as follows:

“BTC correction won’t deter crypto investors. Possible dip means buying opportunity at lower levels.”

Doctor Profit’s Bitcoin price target of $550,000 seems elusive at the moment. The analyst’s original target of $120,000 could be seen by 2024. Many crypto experts and investors predict BTC will surpass $100,000 before the end of this year.