In a bold forecast, renowned analyst "Doctor Profit" predicts that Bitcoin could hit over $580,000 by 2028. This estimate is based on a variety of factors, including the M2 money supply, inflation, and lost BTC reserves.
Doctor Profit: Bitcoin to $580,000 by 2028
Doctor Profit, a well-respected crypto analyst, recently shared a price prediction for Bitcoin that is turning heads in the crypto market. He estimates that Bitcoin could reach a price of $586,500 by 2028. This figure is based on extensive calculations that factor in several economic indicators, including the growth of the M2 money supply, inflation rates, and gold's current market capitalization. He believes that even in the worst-case scenario, BTC's market cap could reach 8 trillion USD.
M2 and Lost BTC as Key Factors
Doctor Profit's calculations take into account that by 2028, the M2 money supply could rise from its current 21 trillion USD to 33 trillion USD—an increase of 58%. This significant increase in liquidity, according to him, would give Bitcoin a “massive boost.” Another key factor in his prediction is Bitcoin's limited supply: 6 million BTC are considered permanently lost, which tightens supply and is expected to increase the value of the remaining 15 million BTC.
Corrections Are Not Bear Markets
While Doctor Profit expects a significant price rise, he also anticipates several corrections along the way. He predicts 3 to 4 major pullbacks of 40-50%, which are part of the natural market cycle. However, these corrections should not be seen as bear markets. For long-term investors planning to hold for several years, he does not foresee any true bear markets on the path to his $580,000 target.
Conclusion: A Positive Long-Term Outlook
Doctor Profit remains optimistic, seeing the Bitcoin market on a long-term growth trajectory. His price prediction, driven by the significant rise in the M2 money supply and other economic factors, reflects a highly positive outlook for the coming years. According to him, corrections along the way mainly present opportunities for savvy traders, while long-term investors should stay focused on the ultimate goal of $586,500.
