Topic: Bitcoin at $1 million this cycle really possible? (Read 956 times)
$1,000,000 this cycle is too soon, I think we will get over $100,000 this year but $1,000,000 is too much. We might hit that kind of number in 2025 though or more realistically 2029 after the next two halvings.
there's only 20M BTC left since 1M belongs to satoshi which he already forgot, probably considered it donated to the world. now it's gone.
with more are lost from people who forgot their keys which there is no way of accessing them. 20M is very few for the 8B people in the world where 1 person today does own more than thousands. Bitcoin is very rare. maybe in the next 10 to 20 years, it could be a million. they were saying it could be $300K next year.
then we would really expect that there would be some huge increase but i dont really believe that it would reach out a million in price but who knows right?
Bitcoin had never failed to impress the community on where it could just make out some price pump basing off with those sentiments.
At the moment, there are less than 19 million coins. You should also count the OP_RETURN-ed coins which are burnt for good and the intentionally sent bitcoins to burning addresses. They are also burnt for good, because it is extremely unlikely to find a private key given only the RIPEMD-160 bits.
Some studies say that around 4 million coins are gone including Satoshi's. Fun fact, but Hal Finney calculated the world's wealth with 20 million coins instead of 21. He probably guessed or took for granted that around 4.7% of the coins will be lost from circulation.
Even with all of that, 1 million per bitcoin is "possible" but not anytime soon. That was the consideration for this topic, "this cycle" and it doesn't matter how many bitcoins are gone for the short period of time, whenever a coin is gone that matters overall but it doesn't change the price right now. Like I could burn 1 bitcoin right now and it will not help as much as buying 1 bitcoin, that is the key factor here.Some studies say that around 4 million coins are gone including Satoshi's. Fun fact, but Hal Finney calculated the world's wealth with 20 million coins instead of 21. He probably guessed or took for granted that around 4.7% of the coins will be lost from circulation.
I end up thinking what I can do with it, and at the end of the I rather see people buying rather than see people burning for now, but since I am a long term investor, coins being burned is a lot better for me in the long run, like if you burn 10k bitcoins today, it will have a huge impact 10 years later down the line, it really does matter. One of the biggest examples of this is that whenever there is a halving, we end up seeing price going up.
there's only 20M BTC left since 1M belongs to satoshi which he already forgot, probably considered it donated to the world. now it's gone.
At the moment, there are less than 19 million coins. You should also count the OP_RETURN-ed coins which are burnt for good and the intentionally sent bitcoins to burning addresses. They are also burnt for good, because it is extremely unlikely to find a private key given only the RIPEMD-160 bits. Some studies say that around 4 million coins are gone including Satoshi's. Fun fact, but Hal Finney calculated the world's wealth with 20 million coins instead of 21. He probably guessed or took for granted that around 4.7% of the coins will be lost from circulation.
there's only 20M BTC left since 1M belongs to satoshi which he already forgot, probably considered it donated to the world. now it's gone.
with more are lost from people who forgot their keys which there is no way of accessing them. 20M is very few for the 8B people in the world where 1 person today does own more than thousands. Bitcoin is very rare. maybe in the next 10 to 20 years, it could be a million. they were saying it could be $300K next year.
thinking about something that doesn't need to be thought about, makes people who read it dizzy thinking about it. the current condition of bitcoin is still at $39,000 to be able to move at $50,000 I think it's lucky. why think when bitcoin can reach $1 million a coin.
maybe bitcoin hit such a price, but how many assets have you amassed to reach that peak?
maybe bitcoin hit such a price, but how many assets have you amassed to reach that peak?
The ATH stands at $64,000 (April 2021), so that should be our baseline scenario. Since the user base and acceptability is always increasing, theoretically at least there is no reason to believe that those levels won't be achieved again. Personally I am not worried about achieving a particular level within this cycle. I first invested in Bitcoin almost 5 years back (January 2017). And since then, I have witnessed several cycles. I am holding most of my coins ever since I made my first investment, and I don't have any issues in holding them for another 5 years (if that is required).
is the really possible what looks like a dream - $ 1 million for bitcoin this cycle? We all know the factors and events around BTC lately. In addition Raoul Pal said in an intervew Bitcoin can hit that target price. only 15x and we are there.
Mind off first on how we gonna break $60k before considering a million per coin.We should be at least realistic on our goals or target in mind because it would just frustrate you once bitcoin wouldn't able to reach out that level.
Be mindful rather on how we reach $100k and then consider on gradual phase of increase before hitting up even half a million would really be hard on this years or might take time or wont
really be achieved at all.
Better to stick out or mind off about your investment for long term and would accumulate as much as you can.
thinking about something that doesn't need to be thought about, makes people who read it dizzy thinking about it. the current condition of bitcoin is still at $39,000 to be able to move at $50,000 I think it's lucky. why think when bitcoin can reach $1 million a coin.
maybe bitcoin hit such a price, but how many assets have you amassed to reach that peak?
is the really possible what looks like a dream - $ 1 million for bitcoin this cycle? We all know the factors and events around BTC lately. In addition Raoul Pal said in an intervew Bitcoin can hit that target price. only 15x and we are there.
Mind off first on how we gonna break $60k before considering a million per coin.We should be at least realistic on our goals or target in mind because it would just frustrate you once bitcoin wouldn't able to reach out that level.
Be mindful rather on how we reach $100k and then consider on gradual phase of increase before hitting up even half a million would really be hard on this years or might take time or wont
really be achieved at all.
Better to stick out or mind off about your investment for long term and would accumulate as much as you can.
I have to say 100k or even 200k could be reached in the upcoming year or two but that's about it, we need to be calm about the increases because if we aim at 1 million and it reaches 100k then we will not be happy, in order to be happy about every increase, we should be happy with lower than what it is right now. For example I am happy with anything above 25k
Lots of happiness, isn't it?Hate to make this comparison, but people in a pyramid scheme are getting happier and happier as long as newcomers enter the market. The more the newcomers, the more the money in circulation. While I don't think that Bitcoin is a ponzi (except if we assume everything is), I do observe a “pyramidic” behavior from its
So, if you ask me, I find it extremely likely for Bitcoin to reach another crazy ATH (not $1M necessarily), because it will have newcomers; it doesn't stop there as long as new people acknowledge its importance.
I am guessing that when OP said "In this circle" would mean that before we see the next Bear market or Bitcoin hitting a new ATH of $1m from where we are now 
I don't think that is possible now and not that Bitcoin cannot do it but not in this circle.
Think about it, from the last ATH of 2017 of about $19,655 per Bitcoin, how many X has Bitcoin done to this new ATH of $$64,804.72?
So doing 15x is not, JUST. that's a whole lot of funds from investors to push Bitcoin to that amount and that is not going to be a quick thing but over a time period.
Even if we take the next 2 years as indicator on "this cycle" I have to say it will not be a million dollars. That is around 25x increase on bitcoin, which already had nearly a 10x increase already compared to last years bottom. So, it is obvious that we will not see it, that is way too much money and we are talking about like ALL big banks going into crypto levels of money (or hedge funds or whatever) and we do not have that type of hype right now, we probably won't have one in a long time as well. I don't think that is possible now and not that Bitcoin cannot do it but not in this circle. Think about it, from the last ATH of 2017 of about $19,655 per Bitcoin, how many X has Bitcoin done to this new ATH of $$64,804.72?
So doing 15x is not, JUST. that's a whole lot of funds from investors to push Bitcoin to that amount and that is not going to be a quick thing but over a time period.
I have to say 100k or even 200k could be reached in the upcoming year or two but that's about it, we need to be calm about the increases because if we aim at 1 million and it reaches 100k then we will not be happy, in order to be happy about every increase, we should be happy with lower than what it is right now. For example I am happy with anything above 25k, which means if it ever reaches 100k that's 4x more than I want but only 10% of what you want, that is going to have different effects on us.
is the really possible what looks like a dream - $ 1 million for bitcoin this cycle? We all know the factors and events around BTC lately. In addition Raoul Pal said in an intervew Bitcoin can hit that target price. only 15x and we are there.
Yes really possible, you must know that the price bottom of Bitcoin always increases, and today the current price is $55K but someday $55K will be the bottom price of Bitcoin. Bitcoin is a real investment that will keep increasingIf you in 2007 and already know about Bitcoin which worth nothing, maybe your question will Bitcoin at $55K this cycle really possible?
So Hold it and you will meet it
I think it's possible but probably it will happen around the end or just before the end of the cycle but I think that something unexpected might even happen, I mean we didn't expect bitcoin to reach 50k around November 2020 because we were still talking about it going up to 20k and then going back down after going up that high.
is the really possible what looks like a dream - $ 1 million for bitcoin this cycle? We all know the factors and events around BTC lately. In addition Raoul Pal said in an intervew Bitcoin can hit that target price. only 15x and we are there.
The late John McAfee starting this goal he really thinks Bitcoin will reach but on a wrong year he thought last year, it's possible for Bitcoin to reach $1 million but it will take two or three halvings before it happens so it's better to allocate Bitcoin however small it is, it will make a big difference in the next two halvings.
is the really possible what looks like a dream - $ 1 million for bitcoin this cycle? We all know the factors and events around BTC lately. In addition Raoul Pal said in an intervew Bitcoin can hit that target price. only 15x and we are there.
Yes really possible, you must know that the price bottom of Bitcoin always increases, and today the current price is $55K but someday $55K will be the bottom price of Bitcoin. Bitcoin is a real investment that will keep increasingIf you in 2007 and already know about Bitcoin which worth nothing, maybe your question will Bitcoin at $55K this cycle really possible?
So Hold it and you will meet it
I don't think that is possible now and not that Bitcoin cannot do it but not in this circle. Think about it, from the last ATH of 2017 of about $19,655 per Bitcoin, how many X has Bitcoin done to this new ATH of $$64,804.72?
So doing 15x is not, JUST. that's a whole lot of funds from investors to push Bitcoin to that amount and that is not going to be a quick thing but over a time period.
Why wouldn't it be possible? In the end, there is no limitation for Bitcoin price to be able to reach. I think that we will see this price in 10-15 years. Bitcoin price will increase gradually before reaching 1 million dollars. But who knows, maybe I'll get wrong and it'll happen way sooner.
It might not even take a decade for this kind of price to really happen because if you think about it and see the price increase, it's an exponential increase meaning that there's a possibility that it can happen in about 2 or 5 years which is why we need to hodl on to our bitcoins because we know that there's an endless potential and you don't want to miss out on the opportunity.
Inorder for Bitcoin to have such a huge unit price (which would translate in to a market cap of around $18 trillion), it needs to expand the user base by 10-20 times from the current level. For example, Gold is having a market cap of around $12 trillion right now, and it is being used by close to 5 billion people. For Bitcoin, the number of active users, even from a liberal standpoint is only around 1%-2% of that number. So if we want to go beyond the $1 trillion mark, then not just the user base, but the acceptability also needs to increase.
Why wouldn't it be possible? In the end, there is no limitation for Bitcoin price to be able to reach. I think that we will see this price in 10-15 years. Bitcoin price will increase gradually before reaching 1 million dollars. But who knows, maybe I'll get wrong and it'll happen way sooner.
I don't think it is too early because bitcoin just need another 20x progress to reach $1 million price level. Even bitcoin has not showed that kind of wild appreciation in short period of time, why not we cannot expect at least this time that to happen? Just an out of box thinking.
So you think in hindsight it is too easy to reach a million dollars, people are loosing the valuation of assets and thinks that it is easily achievable. Lets see how much you are willing to shell out as transaction charges, right now i am spending around $25 for a transaction and the price is around $50k to $60k, just do the math and tell me how much you are willing to pay every transaction when it reaches a million dollars. Unless these situations are sorted never think about reaching these insane valuations. 
I believe we can expect maximum $400k by end of this cycle. So, we need to wait for another four years to have bitcoin hitting one million dollar levels. I agree anything could happen, still just speculating based on how many investors bitcoin could attract in current cycle and in next 4 years.
I guess there is no limit in number of investors bitcoin going to attack and no one could estimate the potential of those investors; it means your speculation about waiting for another year is getting void this way. I mean when we cannot judge anything now itself, new investors may take bitcoin to any level at any time.If other countries' institutions will be copying what microstaregy and grayscale has done with bitcoins, that would take bitcoins to $1 million levels in the remaining months of 2021.
I read that there are lots of other institutions are already copying microstaregy but not in great number of bitcoins. Only very few corporate decided to risk more with bitcoin investments and all others are just testing their hand with bitcoins as they are doing it for very first time. It is too early for us to expect the bitcoin price to hit $1 million in the near future, I think the most realistic bitcoin price that is possible in the current cycle will only hit a price of $ 100K and that too is likely to happen occurs at the end of 2021, given the positive trend that has occurred in bitcoin in the last few months it looks like bitcoin will continue to maintain its bullish phase until the end of the year
I don't think it is too early because bitcoin just need another 20x progress to reach $1 million price level. Even bitcoin has not showed that kind of wild appreciation in short period of time, why not we cannot expect at least this time that to happen? Just an out of box thinking.I am just expecting as per the potential of bitcoin and its attractiveness on getting new investors on board. If other countries' institutions will be copying what microstaregy and grayscale has done with bitcoins, that would take bitcoins to $1 million levels in the remaining months of 2021.
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