Im one of the more bearish speculators or traders on here, Im always looking for a pullback but a one million cycle is possible however you put yourself this year it can happen eventually. The problem with any larger target, it wont happen in isolation. So events of the last year have been unprecedented not just with a virus as that has happened before just not on this scale and so universally but most of note and related is the moves in finance which moved us so far into the next stage of dollar devaluation. To speculate on 1 million really I expect more of this grand scale macro economic moves, I dont know the details but large moves happen not in isolation but likely alongside a general tectonic change to the worlds structure in some way.
To put it briefly lots of prices changed quite alot in the last year, BTC didnt move alone and so a big target like this also comes in a wider mass of change.
Exactly, we will need a combination of factors for that to happen, to begin with I think we will need another black swan, the pandemic came out of nowhere, I still remember seeing the first reports of a new virus in China but I thought it could be contained and it will have no effect on our lives, it is funny to think how wrong I was about this now that more than a year has passed since then and the world changed in front of our eyes because of it.
Then we will need governments to keep printing money and institutional investors getting worried about this, then we will need banks to begin to give loans as never before, this will accelerate money velocity and inflation, and we will probably need a few more factors but I am not an expert on the topic to know what they are.
