Analyst Sees Bitcoin Reaching $8 Trillion Market Cap: What Price Will This Surge Bring?
Bitcoin (BTC) reached a two-month high of $66,500 last Friday, fueled by fresh market liquidity and renewed investor confidence in risk assets following the US Federal Reserve’s (Fed) interest rate cut on September 18.
However, one analyst predicts that the cryptocurrency’s market capitalization and price could grow significantly in the coming years if the current bullish trends continue.
In a recent social media post, crypto analyst Doctor Profit outlined a bullish outlook for Bitcoin, predicting that its market capitalization and price could significantly increase if past growth patterns hold over the coming years.
Doctor Profit argues that the largest cryptocurrency on the market could reach a market capitalization of $8 trillion, which he estimates would be equivalent to a price of around $550,000 by 2030.
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