Bitcoin at $1 million this cycle really possible? - page 4.

conected

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Quote from: jossiel on April 13, 2021, 12:00:14 PM

That nearly 15x is underrated.

If bitcoin will be on that the same pattern as last year, there could be a very chance that it will reach really high price. But not yet that high as $1m for this cycle.

We may need 2-3 more cycles for bull run for us to see that.

- A few more cycles will not break that milestone due to the situation is quite stressful and a lot of pressure in the crypto world and even spread to the outside world, a few large resources are involved but not strong enough to help bitcoin reach the 10% mark because the valuation of bitcoin in such a manner was so unreasonable, the government began to be suspicious of a system of money laundering and tax evasion. The trend of perpetual growth will be a disadvantage, it needs to gradually reduce steps to create a solid from community sentiment to price sentiment.

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Quote from: veznata on April 13, 2021, 07:17:38 AM

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.

I don't think it's possible. Bitcoin is already worth 3 times as much as its former ATH, and that's a big step forward after years of struggling to maintain even 50% of the ATH price. I agree with others that it doesn't really matter how far Bitcoin goes this time, and that its current accomplishment is already a lot. I'd be happy even if Bitcoin starts falling now, and falls as low as $20k. It would still be a big achievement and a way forward. I think that now we should focus on more use cases and on friendly regulations of cryptos rather than on the price.

Mamun74

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$1M Per coin?It's too much but maybe in future. It's not possible this year.Coz bitcoin price now $60k+.I think bitcoin price will be reached $100k this year. I think next few years bitcoin price could reach $1M.

lifeforcepools

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To be honest, I'm ready to believe anything now, even this.

DatKing

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Quote from: veznata on April 13, 2021, 07:17:38 AM

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.

I don't why people automatically start making preposterous predictions about the price when it starts increasing again. 1 million dollars is an extraordinary level to reach for the Bitcoin price right now. But it looks like we could see an ATH over 100k dollars this year.

int03h

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One million dollars seems like an impossible number. Bitcoin has grown in value about 15x since April 2019, 3.1 times higher than 2020's ATH, predicting Bitcoin's ATH in this cycle to be between $ 100k and $ 200K.
Getting Bitcoin to reach the $ 1 million mark will take a variety of times and conditions. That can be achieved in the next cycle.

ipanks

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Maybe that is not possible to reach this year, but that can happen in the next years. This year, bitcoin needs to break $100k, which is really hard to reach because until now, the price is at $64k, which is the good performance of bitcoin after it stays below $60k. But we still have a long term to reach $100k, and I guess that can happen this year. So after reaching $100k, the next target of bitcoin price will be at $200k-$250k, which can happen in the next year. Bitcoin needs longer to break $1 million and I do not think that will be possible to reach in this cycle.

blckhawk

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Quote from: veznata on April 13, 2021, 07:17:38 AM

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.

Definitely not on this cycle. Even though some people said that this current bull run will last more longer still I don't think it will be enough to reach that price. Perhaps, it will take a couple of cycles for us to see Bitcoin at the price besides it will require a huge total market cap for that one. Imagine large institutions are already now venturing into the crypto market yet we cannot able to reach $100k, perhaps we need more adaptation, we need a massive one in order to bring Bitcoin at that million price.

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Quote from: Welsh on April 13, 2021, 10:39:25 AM

If Amazon invested a tonne into Bitcoin, and announced that Bitcoin could be used to purchase anything on their platforms, then that would likely increase the price by quite a lot.

I guess everyone is waiting for Amazon's move, at least I got that impression here on the forum, but also in various media that cite it as the next big thing. Although Amazon is one of the biggest players in the world, I don't believe that their investment in BTC (if it were in the Tesla range) would make a bigger shift in terms of price - probably $10 000 to $15 000 in the short term. Even if BTC were added to their platform as a means of payment I don’t believe a lot of people would use it because most still don’t use it as a currency but for trading and as a store of value.

Quote from: stompix on April 13, 2021, 09:52:08 AM

100k I find it more of a certainty, 200k close to the same but once we're adding hundreds of thousands to each coin and 2 trillion in the total market for each bracket things get messy. I wouldn't exclude it but at the same time if this happens I don't think 1 million then will be equal to 1 million now.

I agree, a lot of money a lot of problems and more risk. All is well as the uptrend continues, as if no one is thinking about time when the trend will reverse - we may have begun to believe that this time it will be different? Of course, $1 million will not have the same purchasing power now and in 10 years - especially if the helicopter money policy continues.

bobyhodob

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it is still too far for bitcoin to break through that price because it takes a very large mcap, it is possible that in the next few years it could reach that price

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Quote from: AicecreaME on April 13, 2021, 09:59:17 AM

Bitcoin started at $0.0008 in the year 2010 and had an All Time High now of $62,000, with that amount of pumps after 11 years, does $1,000,000 per Bitcoin still looks like a dream? I don't think so.

Depends on how you're looking at those numbers.
Having grown 80m times, it might look no big deal to hit 1b times, but when you look at the value in USD you will also see that it has grown $62k from the initial price but it would require to grow an additional $938k, close to 15! times what is has grown till date. And while in the old days you could overcome the daily inflation of coins with a few thousand dollars now you need $50 million each day to cover those, plus the fact that unlike previously when mining was more for fun now it incurs costs that are no longer hobby money and miners need to liquidate a huge chuck of that.

Quote from: BrewMaster on April 13, 2021, 12:10:07 PM

you should always remember that $20000 was also 133x the price when it started rising at first and yet it was reached very easily in only 3 years. so far with the current price we are only up 18x from the bottom the dip that we had in 2018. there is still a long way to go up.

The same thing as above, the first jump might have been 133 but it was still ~$20 000, the second one is only x18 but it's $58 000, so actually, x133 is smaller than x18 by a factor of 3. Grin

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Look at it this way. 20k to current ATH is 3x and it took a lot of stamina for buyers to reach this point, plus fiat being dropped and institutions investing and Reddit Wall Street etc.

Do you really think 15x more is possible from this current cycle? I really don't think so. And it would be really irresponsible to assume so as well.

uttoransen

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Some time back I though even $1k was too much for a bitcoin and now it is $60k! So anything is possible.

Recently, some of my off line friends - people who aren't as active on the internet - and surely haven't got a clue about crypto, started asking me questions about BitCoin - all this price increase is making some media headlines too. Few of them had even taken out some money from their share market funds and have invested those in bitcoin and some popular alt-coins.

If more and more people start doing this, many of them are already doing it - the funds from the share market will flow into the Crypto world and that 1M target will start to look far easier!

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Quote from: veznata on April 13, 2021, 07:17:38 AM

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.

you should always remember that $20000 was also 133x the price when it started rising at first and yet it was reached very easily in only 3 years. so far with the current price we are only up 18x from the bottom the dip that we had in 2018. there is still a long way to go up.

jossiel

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That nearly 15x is underrated.

If bitcoin will be on that the same pattern as last year, there could be a very chance that it will reach really high price. But not yet that high as $1m for this cycle.

We may need 2-3 more cycles for bull run for us to see that.

20kevin20

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Quote from: pixie85 on April 13, 2021, 11:54:36 AM

Think how many millions in fiat currency you're going to need to make Bitcoin move from 800 to 900 thousand. You'd need whole governments to invest their budgets into Bitcoin.
Even if we take the next 3 years into account 1 million dollars is unreachable.

Or a supply and liquidity shortage would make the path to a million much clearer and easier than we imagine. If enough people with enough BTC decide their coins shall not be sold under a million bucks, it's not that hard to get up there. Sometimes, large pumps require very little volume.

pixie85

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In short No.

I'm saying it because it takes more fiat money to make Bitcoin gain another 1% each cycle. When you had bitcoin for 1000 dollars, getting it to 1100 required a very small amount of money compared to 2017 when it was worth 19 thousand and on its way to 20.
Now at 60 thousand you can invest 1 million USD and not even see anything happen on global charts.
Think how many millions in fiat currency you're going to need to make Bitcoin move from 800 to 900 thousand. You'd need whole governments to invest their budgets into Bitcoin.
Even if we take the next 3 years into account 1 million dollars is unreachable.

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Just a matter of time and time will answer all these questions. Bitcoin or the cryptocurrency world is full of surprises. Right now who would have thought bitcoin would reach $ 60k ATH. The highest price that many people could not achieve but was reached in a few years.

Bitcoin still has a long way to go, Bitcoin is still very new. Bitcoin development continues.

The bitcoin community is very strong and bitcoin is not influenced or regulated by anyone, including the government

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$1M per coin, to me, is asking a bit too much. The amount of cash needed to flow into bitcoin and crypto for this to happen is insane, and we're not at the point wherein everyone is pro-bitcoin and doesn't see anything wrong with it. The question is not 'when' but rather 'how' or under 'what circumstances' would we be reaching $1 million dollars per coin. Most of the money in the world are still parked on stocks, bonds, gold, and derivatives, and it will take a long ass time before these investors give in to what bitcoin can offer.

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Quote from: tranthidung on April 13, 2021, 10:16:58 AM

If BTC repeats the 20x of parabolic curve in 2017, the price for this 2021 parabolic curve will be about $400,000 (= $20,000*20)
The Stock to Flow model shows the price would be $100,000
The Mayer Multiple bands shows the price could touch the top upper band of Overbought area that is around $144,000. However, it it touches to that top, it will be hyped to higher a little bit
All of these give me my simple thought that BTC can reach $150,000 to lower than $200,000

I am a simple investor. Cheesy

Starting a few months ago I was actually very worried. This is because several years ago this cycle seemed to repeat itself and there would be a period of saturation. Last year he was down very deeply how about this period? Last year it got really messy for altcoin holders. The value fell deeply for the BTC pair.

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