Topic: Could Bitcoin price increase to $1 Million one day? - page 3. (Read 2485 times)

Impossible, if price wants to hit $1M/bitcoin that means a lots of difficulty increasing to a point where for mining a single coin you'd have to launch 1000 ASICs for 1 week to mine it, people would rather mine other coins which costs much less to mine.
It doesn't make any sense for the price to reach that highs but I think $50,000 is still a reasonable milestone to reach.

I dont think it will ever reach that point because the reason why we are still witnessing sharp increase in the price of bitcoin is because of the fact that the currency is still evolving with new people coming on a daily basis and the moment the market is saturated up to a point which I believe bitcoin price wouldnt have reached the $1million then the only increase we will be seeing over a period of time will only be marginal which only one major event can push it further.

1 what! Here we don't even know what does hold for Bitcoin post August 1st, till that is not clarified we can't even think post that and you want to think it will go to 1 million, you say people said which people are those I think someone has badly misinformed you, I feel you should browse around the forum and learn lot more about Bitcoins.  

I say do not overthink it. It will come when it comes. You cannot totally deny that this is possible. There is a chance that this can come true if bitcoin adopts well in the needs of the time or if it scales.

Do not pin your hope that you will become a millionaire someday because you hold bitcoin today.

Almost of half of this community is speculating this. We can assume so far only less than 1% of total world population would have adapted bitcoin till date. In future we can expect at least 5% to 8% of world population to adopt bitcoins and capital from one individual person may go higher on seeing strong rally of bitcoins but in average we cannot expect big differences but continuous good returns may invite hedge funds to join the party.

I guess these two are more than enough supportive reasons to take bitcoins to have another 400x growth. One good speculation here to mention: Vinny Lingham speculated bitcoin has 2.5% chances to hit one million levels in next 5 years.

At today's price of $2500, if Bitcoin price grew by 50% and Apple stock grew by 10% per year consistently for the next 10 years, their market cap would almost match at $1.6T.  That would give Bitcoin a value of almost $100,000 given that the total supply of it is about 19.7M. 

(The two big assumptions to make this happened are the 50% vs 10% annual growth and the consistent increase for the next 10 years.)

It could happen the block reward will eventually get some small that 1 BTC a block will seem significant, in order for that to be worth a miners time the price would have to be quite high or the transaction fees would need to replace the block reward, the limited supply of coins implies that is a possible end game outcome but not for a few more decades at least, it also depends on the altcoins and if that changes the spreads etc.

Being optimistic is good, but it's too high if we are going to think about it's current status. But there's nothing impossible as those early adopters are even thinking more than before. Unrealistic to others and I have doubts but it this happens, all of the bitcoin people will be having a new society, bitcoin richest people society.

Might happen, because few years back if you have raiseda question, whether the price will reach $5000 or higher majority would have said that the possibility is low. Now the same accept that's possible. So with time everything changes, paving path for million or even higher as things happening with the cryptocurrency network were really hard to predict exactly.

I don't think that it will be better to predict that big amount of price for one Bitcoin because the main reason is that the Bitcoin is at startup ( regardless of the factor that it take birth in 2008 ) because people in the current time started to know and entering to make earnings with this , So increase in the crowd may be can give big impact at the fee system and that results into people to change their path for the other coins like eth , dash or ripple etc etc .
So here we should remain in the limit of 5-10 years , No Doubts that the Bitcoin is a main medium to do every thing in the virtual currency . So according to the probability data many experienced and old people predicted about this to get 10000$/btc .

Bitcoin will increase to $1 million some day. When it does you will not want the $s anymore.

I think $150,000 is easily reached in our life time.

$1 million Bitcoin each in the year 2140 when the last Bitcoin is mined. We won't be alive to see it but yes it will reach the $1 million mark 'one day'.

Nothing is impossible... Keep doing your work and the answer will be appeared in one day!! Now is very hard to tell about this thing, however just pray for its kkkk....

I doubt it will ever get to 1 million, but it could!

I think one day that market cap of all cryptos would be high enough to make bitcoin 1 million per coin, if bitcoin ended up completely dominating the crypto market. And while I do think most altcoins will fade away and we'll be left with 1 or 2 or 3 main crypto and bitcoin will be one of them, I don't think bitcoin will ever be at like 80-90% share of crytpos again, and I think it would need to be that high for its market cap to hit in the $20 trillion range which would get it to $1million per coin.

Personally I think a more reasonable goal is $100k. It is still a super high number, and anyone who has been investing in bitcoin will get rich off that number, but it is also very attainable, as the bitcoin marketcap would only need to hit around 2 trillion to pass $100k, which I think is very possible in the next 5-10 years. It could hit this even if Ethereum or another crypto takes grows to be larger than bitcoin. Even if bitcoin is only used as digital gold and the easiest quickest way to transfer large amounts of money around the world, I think these use cases alone, when done on a global mass market scale, would be enough to see bitcoin come to around $100k, even if its use as a payment currency doesn't ever hit mass scale.

I have read so many posts here speculating on the future value of Bitcoin. I would say that sometimes there are speculations that can be beyond belief for now . Yes, Bitcoin can be possibly 1 million but it might take many decades before it can reached that level and considering that Bitcoin can still be alive by then. We don't the market forces that can affect Bitcoin in the coming years and there are forces which are beyond our own control and influence.

you are forgetting about the scarcity!
there simply aren't large enough amount of bitcoin to not reach that price. the final total number of coins will only be 21 million and there are billions of people on the planet. it is a very simple supply and demand relationship. if the demand continues rising the price will too.

Today we are sure that this is not possible, but maybe in the future we will change our minds and such a cost will become the norm of cryptoval

It is not impossible but the possibility is slim.  Look at the figure, which one is easier to multiply 1 or 1000?  This is why the higher the price of Bitcoin, the harder to get profit from it since it needs a huge fund to move the market higher.  There are prediction that bitcoin will cost 1 million Dollar  a piece but that is quite exaggeration in my opinion.

Right now, the total global wealth is around $300 trillion. If Bitcoin rises to $1 million, then it's market cap will be around $20 trillion. That would mean that Bitcoin will represent almost 7% of the global wealth. It is theoretically possible,  but it will also mean that Bitcoin will become the dominant global currency. In order to reach there, it needs to dislodge the United States Dollar. It is possible, but difficult as hell.

Well, in 2009, someone bought 5,000 bitcoins for $27. The worth of 5,000 bitcoin today is more than a staggering $12 million dollars. That was multiplied a thousandfold.

So it is not impossible to happen after all, eh?

If we look back at the history of bitcoin, which is relatively young, being less than a decade, everything seems unbelievable and impossible, too.