Bitcoin at $1 million this cycle really possible? - page 5.

wxa7115

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Quote from: veznata on April 13, 2021, 08:17:38 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.

Most of the time questions like that can only be honestly answered with an it depends, one million dollars for each bitcoin during this particular cycle seems like it is too high but as we know everything can happen, because of the pandemic governments are facing huge amount of debts and not only that because of the decrease in the economic activity the debt ratio has increased significantly.

This means that if during the current year something else gets to happen that shakes the confidence of investors in the ability of governments to pay their debts then we could see hyperinflation and a price that high for bitcoin.

Welsh

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Quote from: Lucius on April 13, 2021, 08:38:25 AM

I honestly don’t get people who are constantly asking questions that don’t make too much sense at the moment - and that’s exactly “when BTC $1 million - or is that even possible?”. For all those who ask the same question, where do you think all the money that will pump the price of x15 will come from?

People often asking these questions are catching the old "fear of missing out", and just want some encouraging words to actually take the plunge, and finally purchase some Bitcoin. Although, the question or the majority of the answers that could be given to this question are purely speculation, which basically means its almost worthless. As for your question, regarding where the pump would come from, and I understand your almost asking a rhetorical question, to further your point, but the answer is no one knows. 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. However, no one would know this until they do it, so really accurately predicting the events that effect Bitcoin prior to them happening, is quite simply impossible, and thus the original posters question is impossible.

We simply don't know when everything is going to slot into place to increase or for that matter decrease the price.

Fortify

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Quote from: kryme on April 13, 2021, 11:06:45 AM

Quote from: seoincorporation on April 13, 2021, 10:19:40 AM

I feel this scenario is really hard because to hit that price the market capitalization should be enormous... and right now the current capitalization is really big.

For example, Apple is the company with the biggest market cap, right now they have 2.233T dollars, and if we compare it with bitcoin cap this is 1.1T. So, the richest company has double than bitcoin. So, even if we double the bitcoin capitalization it will not hit $1 million each coin, that's why I think $1M is almost impossible.

Apple only has the largest market cap in the US.

Apple held that title worldwide until Aramco came along with a share offering. They also vie with Microsoft for that title as all three companies took a varying hit from the effects of Covid. This thread does seem like wild speculation by the original poster with little evidence to back it up and probably deserves moving to the Economics section. If we are to take a look at the similarities between cryptocurrency and the stock market, you should not assume that the future direction of any will match the past trajectory - in fact it gets substantially more difficult to reach higher peaks the greater Bitcoin costs.

Anonylz

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Quote from: AicecreaME on April 13, 2021, 10:59:17 AM

Quote from: veznata on April 13, 2021, 08:17:38 AM

is the really possible what looks like a dream - $ 1 million for bitcoin this cycle?

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. I don't why people are interested in that, you could just simply buy bitcoin and wait for it to happen, or don't buy at all and still watch it touch the $1,000,000 price point, that's your only choice.

Bitcoin has done so many things already for you people to get the assurance you wanted to wash away your doubts on it, and if you guys still don't believe on it, it's your choice. We're just here patiently waiting for that to happen.

Cheers!

It may not be a dream looking back to where btc started but 'in this circle ' according to the op is definitely a big fat dream and unrealistic, not even in the next circle will this happen,
In the future, it is a possibility, after all btc was once $1 and rose gradually to $62k, this process too 10 years, even though before and now are quite different, achieving that amount will requires much money injected into the market. And how many regular investors will be willing to part with huge sum to by btc?

tranthidung

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Quote from: aoluain on April 13, 2021, 08:42:36 AM

For this cycle, presuming there will be noticeable cycles in the future, 1 million seems
out of reach.

If we refer to PlanB's Stock to Flow model, $1,000,000 could be reached after next Halving.

Simple thought

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

Innerpumper

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That's quite possible, but if bitcoin gets higher it will certainly be more resistance. Bitcoin currently ranks eighth as the richest asset in the world, led by gold. I'm sure bitcoin will be on top of it.

kryme

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Quote from: seoincorporation on April 13, 2021, 10:19:40 AM

I feel this scenario is really hard because to hit that price the market capitalization should be enormous... and right now the current capitalization is really big.

For example, Apple is the company with the biggest market cap, right now they have 2.233T dollars, and if we compare it with bitcoin cap this is 1.1T. So, the richest company has double than bitcoin. So, even if we double the bitcoin capitalization it will not hit $1 million each coin, that's why I think $1M is almost impossible.

Apple only has the largest market cap in the US.

AicecreaME

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Quote from: veznata on April 13, 2021, 08:17:38 AM

is the really possible what looks like a dream - $ 1 million for bitcoin this cycle?

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. I don't why people are interested in that, you could just simply buy bitcoin and wait for it to happen, or don't buy at all and still watch it touch the $1,000,000 price point, that's your only choice.

Bitcoin has done so many things already for you people to get the assurance you wanted to wash away your doubts on it, and if you guys still don't believe on it, it's your choice. We're just here patiently waiting for that to happen.

Cheers!

stompix

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Quote from: virtualdn on April 13, 2021, 10:03:19 AM

I will stop making predictions as my posts here get deleted.

You're post are not getting deleted because you make predictions they are getting deleted because they are one-liners off little value.

Quote from: Lucius on April 13, 2021, 08:38:25 AM

I honestly don’t get people who are constantly asking questions that don’t make too much sense at the moment - and that’s exactly “when BTC $1 million - or is that even possible?”. For all those who ask the same question, where do you think all the money that will pump the price of x15 will come from?

When people really need to believe in something is comforting to find new arguments from others, so those topics might just be a way of consolidating their own speculations. As for the money part, the problem is not only where would that come from but why would that be even invested in it. At one point people will have to admit that gains of x100 or even x10 will tend to be impossible so once we're nearing that point of diminishing gains so will the money flow.

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.

Leviathan.007

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Since we are talking about bitcoin market, everything can be definitely possible even seeing the price at 1 million dollars. The forum is currently full of topics where people asking "when bitcoin 1m/when bitcoin 500K/etc..." The answer to all these questions is none knows anything about the future. However, if you do really trust bitcoin and trust your strategy you know bitcoin can reach 1m and even more, it's just about time.

seoincorporation

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I feel this scenario is really hard because to hit that price the market capitalization should be enormous... and right now the current capitalization is really big.

For example, Apple is the company with the biggest market cap, right now they have 2.233T dollars, and if we compare it with bitcoin cap this is 1.1T. So, the richest company has double than bitcoin. So, even if we double the bitcoin capitalization it will not hit $1 million each coin, that's why I think $1M is almost impossible.

virtualdn

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I will stop making predictions as my posts here get deleted. But as a long time BTC holder who never sold a fraction since 2013 you get the idea yourself.

NeuroticFish

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Quote from: veznata on April 13, 2021, 08:17:38 AM

is the really possible what looks like a dream - $ 1 million for bitcoin this cycle?

I don't know and I don't care. And you shouldn't either. Bitcoin price is already more than great for this cycle.

On the other hand, people that may be smarter than me have been saying that this bull run will be longer and higher than the previous one.
The previous one have ran from under 1000$ to almost 20000$. The charts show exponential growth, hence "longer" can mean anything, sky is the limit. Common sense tells me that asking for 1M in this bull run may be too much though...

Coin_trader

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Quote from: aoluain on April 13, 2021, 08:42:36 AM

Quote from: veznata on April 13, 2021, 08:17:38 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.

For this cycle, presuming there will be noticeable cycles in the future, 1 million seems
out of reach.

If we refer to PlanB's Stock to Flow model, $1,000,000 could be reached after next Halving.

Quote from: aoluain on April 08, 2021, 02:34:31 AM

A million dollar for single asset while a lot of institutional investors already enter with huge stock seems too good to be true. At some point during this bull run, I'm sure that institutional investors will unload some of there to take profit and invest to other profitable asset. I believe Bitcoin trading at 100K is already a gamble especially for retail investors because whale can easily dump the price instantly.

aoluain

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Quote from: veznata on April 13, 2021, 08:17:38 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.

For this cycle, presuming there will be noticeable cycles in the future, 1 million seems
out of reach.

If we refer to PlanB's Stock to Flow model, $1,000,000 could be reached after next Halving.

Quote from: aoluain on April 08, 2021, 02:34:31 AM

https://digitalik.net/btc/#

Lucius

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I honestly don’t get people who are constantly asking questions that don’t make too much sense at the moment - and that’s exactly “when BTC $1 million - or is that even possible?”. For all those who ask the same question, where do you think all the money that will pump the price of x15 will come from?

In this cycle (assuming it lasts until the end of the year), we still need to be much more realistic and hope that the trend will continue - and although Bitcoin is unpredictable, for me success would be if the price reaches at least $100 000. $1 million for 1 BTC is something that may happen in the future, but for that price Bitcoin should be targeted by central banks and most of those who have gold today should replace it with BTC.

Central banks around the world are working to create their own digital currencies (CBDC), and there are still a lot of those golden bugs that consider gold too precious to replace it with anything else.

veznata

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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.

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