# Analyst Predicts Bitcoin Drop But Targets $2 Million

> Analyst Beth Kindig expects Bitcoin to drop again but still targets $2 million, a 26-fold increase from $75,000.
- Title: Analyst Predicts Bitcoin Drop But Targets $2 Million
- Summary: Analyst Beth Kindig expects Bitcoin to drop again but still targets $2 million, a 26-fold increase from $75,000.
- Keywords: bitcoin, btc, crypto, investing, market cap, price target, bitcoin drop, 2 million target, 26 fold increase, spot etf, 24/7 Wall St.
- Source: 24/7 Wall St. — https://247wallst.com/investing/cryptocurrency/2026/11/08/an-analyst-who-expects-one-more-big-drop-still-sees-bitcoin-reaching-2-million-can-btc-rise-26-times-from-75000
- Author: Sam Daodu
- Published: 2026-11-08T23:01:42+00:00
- Read time: 1 min
- Topics: bitcoin, btc, crypto, investing, market cap, price target, bitcoin drop, 2 million target, 26 fold increase, spot etf
## Analyst Warns of Bitcoin Drop
Beth Kindig, a tech analyst at the I/O Fund, expects Bitcoin to drop again before rallying.

> We believe that one more large drop is coming over the next several months
## Bitcoin Targets $2 Million
She projects Bitcoin could reach $2 million, representing a 26-fold increase from its current $75,000 price.

> Our long-term thesis for Bitcoin reaching $2 million remains intact
## Current Bitcoin Price
Bitcoin is trading at approximately $75,662 on November 8, down 8% over the last 30 days and 13.3% in 2026.
## Bitcoin's Recent Decline
Bitcoin has fallen 54% since its peak of $84,082 on October 21, reaching a low of $58,566 on June 30.
## Currency Market Impact
Kindig links Bitcoin's price to currency markets, noting the dollar is trending higher and bond yields are rising.
## Market Cap Analysis
At $2 million per coin, Bitcoin's market value would reach $40 trillion, up from $1.52 trillion now.
## Gold Comparison
JPMorgan Chase estimates private-sector gold holdings at $8 trillion, while Bitcoin's fair value is $5.3 trillion.
## Growth Timeline
To reach $2 million by 2030, Bitcoin would need 127% annual growth; by 2035, it would require 44% annual growth.
## Recent Trading Trends
Bitcoin is on track for its fifth consecutive weekly loss, dropping from $86,507 to $75,662.
## Support Levels
The next support level for Bitcoin is the 200-day average at $73,194, roughly 3% below current price.
## ETF Flows Impact
Spot Bitcoin ETFs saw net outflows of $643.3 million on October 30, $430.2 million on November 5, and $411.9 million on November 6.
## Key takeaway

Analyst Beth Kindig expects Bitcoin to drop before reaching $2 million, a 26-fold increase from current $75,000.