Actually not that many factors contribute to this 1,000,000 prediction.
Just three important dates.
Bitcoin Halving ScheduleTentative MonthBitcoin Block Reward Halving2020May 202012.5 BTC2024May 20246.25 BTC2028May 20283.125 BTC
So you dont have to be a genius like McAfee to know the price will very likely go 1,000,000 and beyond...
Of course government could turn off the electricity, but then we would be arguing over bananas, bread and beer., not bitcoins.
Because all that matters is supply right? Screw demand, and forget things that
could potentially affect the price negatively.
You forgot stuff like:
- Laws and regulations
- Black swan events
- Mass FUD
- Hacked exchanges
- Potentially whales dumping
and the list goes on and on and on..
There are roughly 4-6 billion people on the planet who are not 'banked', (no banking access). If this wasn't a built in demand for a decentralized trustless permissionless p2p financial instrument there never was.
Sure the globalist banksters could criminalize bitcoin and begin the authoritarian arrests and executions. (Not likely IMHO)
Mass FUD we've already seen.
Hacked exchanges also already seen.
Whale dumping; we've already watched BTC bounce back from a variety of attacks.
The reality is that Bitcoin might well be the black swan event which takes out the fraudulent fiat banking system.
It is very likely more governments like Russia will pursue Bitcoin mining opperations.
We are also soon going to see generation 4 nuclear power come online making BTC mining opperations much cheaper energy useage.
The 1 million BTC speculation might indeed be very conservative by a factor of 100.(1 Satoshi to equal 1 USD)
Bitcoin today might accurately be compared to the internet back in 1992 and Windows 3.11.