CandleFocus Analyst Sees Bitcoin Reaching $8 Trillion Market Cap: What Price Will This Surge Bring?
2024-10-01
Author: Content Editor
Bitcoin reached a two-month high of $66,500 following the US Federal Reserve's interest rate cut. Analyst Doctor Profit predicts that if current bullish trends continue, Bitcoin's market capitalization and price could significantly increase in the coming years, potentially reaching a market cap of $8 trillion and a price of $550,000 by 2030. The analysis compares Bitcoin's potential to gold, suggesting that the increasing market cap of gold could strengthen Bitcoin as a viable alternative asset. Doctor Profit also expects periodic corrections in Bitcoin's upward trend, but emphasizes that these should be seen as opportunities rather than risks for long-term investors. At the time of writing, Bitcoin is trading at $63,590, recording losses of 3.4% in the last 24 hours.
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