• Popular Bitcoin and crypto analyst shares bullish BTC price prediction despite short dip.
• As BTC dips below $64,000, one analyst states that BTC will hit $586,500 by 2028.
• He believes this is a high possibility as BTC could see a total market cap of 8 trillion by 2030.

As Bitcoin (BTC) price dips below $64,000, one crypto analyst known for his many accurate predictions makes a bold prediction of BTC price hitting $550,000 with a total market cap of 8 trillion by 2030. While this is his long-term prediction for Bitcoin, the analyst breakdown a much more detailed prediction of what’s to come in the near future for Bitcoin.

$586,500 BTC Top Target Predicts Analyst

In his latest weekly report, the silver-tongued Doctor Profit explains what’s to come next for Bitcoin (BTC) and the broader crypto market. To start off, he predicts that Bitcoin (BTC) could reach $586,500 by 2028, backed by a variety of economic factors and technical analysis. 

These factors include exploring key elements driving this forecast and include the M2 money supply, inflation, lost BTC, and black market inflows, all contributing to Bitcoin’s projected market cap of $8 trillion. Based on these factors, the M2 money supply is expected to increase by 58%, from $21 trillion to $33 trillion by 2028, further boosting BTC’s value. 

Explore Bitcoin’s Top Target by 2028

With an estimated 6 million BTC lost and only 15 million left in circulation, Bitcoin’s scarcity is expected to drive demand and push prices higher. However, the journey to $586,500 won’t be smooth. The analyst predicts several significant corrections of 40-50% on the way, but these dips will be seen as healthy, not signs of a bear market. 

Instead, these price corrections, like a potential 35-40% drop after hitting $120,000, will offer opportunities for traders to capitalize. In this outlook, there are no expectations of a prolonged bear market before 2028, despite potential corrections. Investors holding for the long term should focus on the final target rather than short-term volatility. 

Finally, the analyst emphasizes a dual approach, managing a long-term hold and a separate trading portfolio to maximize gains through BTC’s price fluctuations. Overall, the forecast presents a bullish view of Bitcoin’s future, highlighting the potential for substantial growth over the next four years.

The post $586,500 Bitcoin Top Target Comes Into Focus as Silver-Tongued Analyst Breaks Down the Bullish Possibility appeared first on Crypto News Land.

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