Doctor Profit made a prediction about Bitcoin. He stated that the price could reach over $580,000 by 2028, which is his top target. The analyst used technical analysis and some economic indicators in determining this.
Some of the indicators include the M2 money supply, liquidity rates, and the current market cap of gold.
M2 Money Supply: He thinks the M2 money supply will see a 58% increase. The analyst estimates a rise from $21 trillion to $33 trillion by 2028. The liquidity increase is expected to boost Bitcoin’s price.
Gold Market Cap: Doctor Profit notes that the gold market cap could reach between $13 trillion and $19 trillion. The increase in the gold market cap could have a major effect on the price of BTC.
What is my top target for BTC ?According to my calculation which is based on M2 money supply, probability rate of new liquidity amount and current Gold movement which reached an estimated market cap of between 13-19 trillion (Which is higher for sure). The calculation also…
— Doctor Profit (@DrProfitCrypto) September 29, 2024
Bitcoin Supply Dynamics: There are around 15 million BTC remaining in circulation. 6 million BTC are already lost forever; this scarcity could drive demand and price.
Black Market Inflows: He acknowledges that illicit market activities could inadvertently benefit Bitcoin, further enhancing its value.
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Market Behavior Expectations: Path to $580k
Doctor Profit anticipates that Bitcoin will not experience significant bear markets over the next four years. He clarifies a common misconception regarding market corrections, stating:
“When there is a clear target of 580k, starting from 60k, there is no bear market for an investor that plans to hold for 4 years.”
He expects several 40–50% corrections along the way, particularly at key price points such as $120k, $160k, and $220k. These fluctuations, while substantial, are seen as natural and healthy for the market.
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Show more +Show less – Strategy for Investors
Doctor Profit advises investors to adopt a dual strategy:
Maintain a portion of Bitcoin for the long haul, unaffected by short-term market fluctuations. They can also engage in timely trading to capitalize on market corrections.
Doctor Profit’s analysis encourages a perspective that views market corrections not as bear markets but as opportunities for strategic investment. His target for Bitcoin remains a bold vision for the future of cryptocurrency.
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The post Expert Analyst Reveals ‘Top Target’ for Bitcoin (BTC) Price, Draws Out Path to $580k appeared first on CaptainAltcoin.
