Topic: $1M Bitcoin Valuation until the end of this Bull Run (Read 513 times)

Also, governments won't allow such thing to happen. Banks are simply contributing huge percentage to a country's economy and a total collapse might result to a huge problem as well. Banks will be there given that fiat is the dominant currency being used tto most of the transactions and purchases and is more likely to continue even in the future despite of the emergence of digital decentralized currencies. FOMO I guess for those who easily believed on such unrealistic assumptions. There are indeed problems at the present but banks and government sectors, won't simply allow such devastation on their end. It would be a total chaos if ever so I won't even bother thinking of such instance.

The banking system is very stable. It rests on the authority and strength of state power, and the state will take all measures to ensure that this system continues to function. Therefore, individual banks can go bankrupt, not the banking system. The fact that some banks fail happens periodically, but there is no threat to the existence of the banking system.
The world economic system is now weakened by the long-term coronavirus pandemic, various cataclysms and wars. Therefore, it is not surprising that certain difficulties appear.
How all this will affect bitcoin and the cryptocurrency market is hard to say. When the coronavirus appeared, they also predicted an increase in the price of bitcoin. But that did not happen. We need to observe the situation and make our own analysis.
But I don't think that in the coming years we will be able to see the price of one million dollars of bitcoin.

Senior as you mentioned I would like to mention that I was just 5 or 6 years old in the timeline which you are pointing at.

Senior in response to your first query I would like to mention that my experience, analysis, or observation whatever you want to call is based on just 2019 to the current journey in which you can also skip 2019 because I was a newbie and still I am on the way of learning my journey started with my Fathers Work and from there the first time I heard the term Bitcoin and was about investing a large amount of money in Bitcoin (2017) which was supposed to be done my father's friend as I am not from a rich family but my father was working with a colleague who was from a very rich family even that you can say in that time he was controlling the maximum Freelancing and Remote Jobs in Pakistan and He invested around $970K In Bitcoin. From that point, my father educated me about bitcoin and the crypto market.

But as you know middle-class family problems my father didn't invest any amount in bitcoin even after watching his friend invest such a  
huge amount with such courage due to our financial limitations my father just held his payments received from providing the Freelancing services. I am quite determined about the future in risk investment markets, particularly Bitcoin.

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Moving on to the next part I do agree with your comment BTC=$10k a great fall indicates a great rise (Not like LUNA Mtgox and FTX) but what I think here is the new generation is standing with the crypto market which is not shocking at all as we all need transparency and all the features whatever we need this new generation to try to find it in the Crypto market. I also agree with $1M  valuation of Bitcoin that it's not that easy but cycle after cycle it's not impossible.

I don't know if or when bitcoin will reach 1 million, but banks collapsing like this can be a plus point for bitcoin or crypto currency. After the collapse of the bank sector of the United States of America, now one after another collapse is seen in the bank sectors of Europe, the banks of Switzerland and Germany are one of them. And through this it is going to prove again that how safe the bank sectors are to keep our money. Be that as it may, Bitcoin can be another option that is going to be proven again.

I don't know how old you are, but do you happen to remember 2008-9 by any chance?  Because if you do, you'd also have to recall all of the cries from financial and other media that the banking system was on the verge of collapse--and back then it really did look as though the entire economy was in danger of imploding.

But now?  There might be banks failing, but from what I see it's nothing like it was just over a decade ago (although I don't think we've yet seen the consequences of all the cheap money that's been available for so long).  So I think your premise is a flawed assumption.

I'm not even sure if bitcoin is in any kind of trending market, either bearish or bullish.  There was a big pop up to where we are now, but who's to say that it won't drop back down to $15k or lower?  I do think there's a possibility of seeing bitcoin at $1 million, but I'm not sure if that's going to be in my lifetime or not.  Note: I said the same thing about 1 BTC=$10k, and boy was I wrong about that!

I think this was just to increase the hype so that retailers could jump in the bitcoin investments at levels like 28K or 27K and the whales can later dump the market on this. I never believe in these fake bets whose purpose is not what it seems.

Even if the world economy and banking sector fail in these three months (which is highly unlikely as US is saving the banks with excessive dollar printing), the cryptocurrency market would not gain all this money because it is still not regulated.

Yes, bitcoin BTC will reach a million dollars or more but this would not happen in 3 months, not even in 3 three years. I will take time and we may see these prices after a decade or so.

Those who are thinking that are stupid because if that happens, we will lose more than we gain from investing in bitcoin. If bitcoin is really good, then let people come and use it rather than pray for the bank to go bust for bitcoin to benefit. This is no different than the dirty competition the government is doing with bitcoin, they try to stop it, while we pray for them to collapse. After all, the government and we are equally evil.

Even if the economy of the US or the world collapses, there is no evidence that it will have a positive impact on bitcoin and take bitcoin to $1 million. Don't forget last year, the economy only suffered from inflation, bitcoin was also hit hard, and if the economy crashed or the whole bank collapsed, it would cause a massive crisis, and bitcoin is also hard to avoid the impact. I suspect that the collapse of the banks does not impact bitcoin much, what is happening is more like someone is taking advantage of the news to manipulate investor sentiment rather than actual demand.

There is no other way for bitcoin to reach that price so fast, since it is impossible the demand could explode to such degree without a major economic event destroying the faith of the people on the ability of the governments to control the economy.

And while some may want to see that scenario I wonder if they actually realize how damaging this could be, as even if the price of bitcoin went that high it will do so by creating worldwide turmoil, and it would not surprise me if extreme social movements, drastic economic reforms and even wars took place during that period of time and the subsequent years.

Some people can get overexcited and can be pushing some impossible ideas...however we should not be complaining if in case around 3 months we can see BTC dramatically rise up to $1 million. The only way for this to happen if we can the collapse of the whole USA economy and not just banking which can mean that hyperinflation is suffered by the millions of people. In other words, we need a staggering disaster to happen to make that $1M a big reality. In my own view, predictions like this is not actually helping the cause of Bitcoin...we are just becoming the source of jokes.

I thought fiat would fail and the time of Bitcoin would come, but I don't think so anymore. While banks fail occasionally and some of the top currencies experienced unexpectedly high rates of inflation last year, fiat and banks are still here to stay, I believe. It is also worth noting that while Bitcoin can be used without a centralized service, many still rely on exchanges or custodial wallets, and those can fall as well. Moreover, banks aren't doing so badly, at least not everywhere. For example, banks in my country reported top deposits over the last year, and they are flourishing. Cryptos are also quite popular, but people don't see one as an alternative to another.
As for Bitcoin vs USD, I think that due to other complicated political engagements and relative stability of the latter, most countries will stick to it. Bitcoin is too volatile and isn't objectively highly desirable by other countries, which are both problems. Not to mention how the IMF feels about Bitcoin and the kind of pressure it can put on countries that try to adopt it more.

I agree with most part of your thoughts and analysis but I am afraid that the government and the institutions controlling the financial markets won't agree that bitcoin will be the replacement of the dollar and the next global currency. The reason is that they want to control the economy and therefore they will try to save the banking sector by printing 2T dollars.

This whole system will fall apart one day on its own but I don't think this will happen in 2023 or any time in the next 5 years or so. Yes, I do agree that the excessive money printing effect will go into the bitcoin investment and bitcoin will reach new highs but $1M does not seems a realistic value at the moment.

Exactly. USD's downfall isn't Bitcoin's Rise. Bitcoin's Rise in valuation is what would make it valuable, not the depreciation of assets around it, more so ones that it is pegged to. Just imagine the utter chaos and pandemonium USD crashing in value would ensue amongst the general public. Bitcoin wouldn't be spared from this effect too coz it's either whales buy out most of the circulating supply because every single one of us is pressured to sell by the outside market's situation, in that case it would rise in value but at the expense of every small investor's welfare, or we all jumpship from bitcoin because the selling pressure is immense even the whales are forced to liquidate their assets to get by.

Even if traditional banks are collapsing there is no chance that governments will shift there financial system to decentralized Bitcoin since that will bring an end to there financial control. Governments will prefer to work with traditional banking system no matter how worse things get.



We need to think rationally regarding price of bitcoin. There is no way we can predict what future price of bitcoin will be, it may be 1M or more. But we need to be patient about that rise.

I have previously also said that these are normal pumps coming out of influence and all this bet scenario but in reality we need to realise that how much investment it would take for $1M price to reach within this time frame? It is impossible according to me and he has made this statement to gain personal profits only.

The banking system is much more resilient than it seems at first glance due to the fact that periodic failures occur in it. The world economy, like any cryptocurrency, periodically experiences ups and downs, and this is reflected in the financial system and the normal operation of banks. But falling does not mean failure. The global economy has been hit hard in recent years by the coronavirus pandemic and other problems such as wars and more frequent cataclysms. But the fall of the economy and the deterioration of the financial sector eventually leads to a new impetus for their growth. So it has always been and so it will continue to be.
The cryptocurrency market is also developing in approximately the same scenario. Therefore, the price of bitcoin at one million dollars, even in the long term, we have not yet seen. Yes, we can not say whether such a miracle is possible in principle.

With what's happening to the banking system right now, Bitcoin's raison d'etre is emphasized more than ever. The banking system and the banking laws are now becoming a larger joke. What's funnier is that the banking regulators are the ones imposing crazy policies instead of protecting the public and keeping things in order.

There are billions of debts that will be written down as zero. There's the law that would be used to bypass the power of shareholders. You name it. The banking system has bottomless crazy ideas up its sleeve.

But $1M per Bitcoin is exaggerated.

my view
based on the non-market fundamentals.. it showed a 30% realistic rise in 2021-2022-2023
of the potential tops a market could reach(not to say they did. but what they could have.. based on economics outside the markets)

lets use that
2021   $75k   
2022   $95k   
2023   $121k   
2024   $154k   pre halvening
2024   $307k   post halvening
2025   $390k
2026   $496k
2027   $629k
2028   $799k   pre halvening
2028   $1.60m post halvening

thats what i see as a FAIR forecast of where the market tops could reach using rational projections rather then hyped up best case extreme dreamy projections

And may be this time he will not.  $1m is too huge for the market to achieve in just a small time frame.  I do not doubt about Bitcoin's potential to reach $1m but I believe will not happen this coming bull trend.  Bitcoin market needs huge amount of money to be able to reach $1m, it needs 3700% growth which is somehow impossible to achieve.  Even with the hyperinflation of dollar, we are not sure whether investors will inject their money on Bitcoin since there are lots of options where investors can put their money to take profit or protect its valuation.


It is indeed the opportunity for bitcoin to rise but replacing bank is out of the context.  I agree that the government is still the one who has the authority.  They can shut down any Bitcoin company in their jurisdiction and even prohibit Bitcoin transactions.  They are the authority after all.  But as long as the government allow Bitcoin, we are free to choose to make ourselves to be our own bank with Bitcoin.

Whales are good with rinse-and-repeat tactics.  Do you believe whales will not reaccumulate once they dump their holdings when the price of BTC surges?  They will reaccumulate at a lower price increasing their holdings and position.  This had been observed several times on the market.  When huge holder dump, they always reaccumulate taking advantage of the domino effect of the FUD it causes which makes weak holders panic.