Topic: Could Bitcoin price increase to $1 Million one day? (Read 2498 times)

At least it has chance to reach that price, just looking back when its price was 1$ and did anyone think about Bitcoin if it could reach 100$? That's complicatedd to anser.

Come on you need to be more realistic. The demand may be high but supply of bitcoin is less, in such a scenario you can't expect the price to $1 Million. Fundamentals are very much important to achieve such a huge price.

Not at all possible. It is too much expectation. Once government start regularizing and legalize price would start getting down and stagnate. You wouldn't see much movement there on as more and more countries would start accepting it.

Possible since the price got increased for many years past but we never know on when will this be occur since that million of price is pretty huge and if this thing happen I think it could defeat the fiat economy and more adoption will be get by bitcoins, But I wonder if many whales can able to pump that since most provably bitcoins will became expensive and not all of the people can have that easily.

It is possible that Bitcoin will reach the 1 million dollar mark but it has a low probability. I believe that it is an exaggeration for the price of Bitcoin, though I want it to reach it, but practically, it will not. There will be more and more people will want to have some drop on Bitcoin. Also, I think that a country's economy will not be able to handle such value for a coin.

Actually, this might be the most sensible comment in this thread. If bitcoin won't die then in the future we will see two possibilities: either collapse of dollar sooner or later and at some point bitcoin will reach $1 million.
Or Bitcoin will continue to grow while dollar's purchasing power will degenerate over time, it will be a long and bumpy ride but who knows bitcoin might still hit 1 million in the 21th century.
One is certain, we won't be here to see it, but our children might.

Is this from exhaustion can such a dream or a dream? It seems to me that this is simply unreal and as my mother says, bad or poor only thoughts can get rich.

When it comes to this question, there are a lot of if's and but's involved. There is no doubt that Bitcoin has the potential to become something huge, and it already is rising at a rapid pace. However, we have to just let it do what it wants, we really don't have control over what will happen to it. Although, there are some ways that we can spread the word and improve the amount of investors of Bitcoin. But when it comes to the price of Bitcoin rising all the way up to 1 million dollars, there are a lot of things that have to go right and only a couple of things can go wrong. Bitcoin would first need to be mainstream and be widely accepted across the world by many governments and a lot of the big companies out there. After that, we would need to improve the currency so that more people would be able to use it without making the transaction time and cost higher. A lot of work needs to be done before Bitcoin even has the chance to reach such a high amount, and to be honest, I doubt any of us will be around to see it happen. And I doubt that it ever will happen.

 

The price will hit, but you`ll be dead.

And your future grandkids will be the ones to be spoiled lol.

The question is "would it happen one day" not "would it happen in one day".  LOL! 

In one day it's surely not possible as of future not possible. Maybe you should check the price charts daily so you can understand more about the price structure and maybe even check different markets as there are really huge sell walls which would require billions to make the price reach 1 mil. It's not impossible but in one day it's too much to achieve.

This is an unrealistic price increase, but in the world nothing is impossible and if such growth happens, many will be able to very well secure their lives. But I think that the state will be concerned about such a rapid growth of bitcoin.

very unlike but not impossible, it just need more exposure and adoption, we are in the correct track to reaching $10k, let's think about that first

then you have the 10k-100k range adn beyond if everything go well, with block issue and regulation but we need another decade at least, 2-3 block halving will help the value to grow


the main factor is bitcoin and ETH for that other coins does not matter, maybe tezos will be the new added one

Yes! Eventually this I going to happen over a long course of time. This obviously seems impossible to even imagine but everybody has witnessed from the past that the btcoin rose from $1 per coin to $3000 per coin. At that time even this goal would have seemed impossible, other than that bitcoin doesn’t even have a competitor, nothing stands in its way to more success so it is completely possible that bitcoin will rise to 1mllion dollars level.

In recent times there is another interesting speculation on bitcoin's future value like reaching one billion dollar levels but I believe that must be too early to go for speculating on that.

This does look very impossible and like a joke. But bitcoin is a digital currency that has a very fast movement, so it really is not impossible. Until now maybe there are still many people who feel dreaming when looking at the current bitcoin prices. Many people do not think bitcoin will be as valuable as it is today.

If Bitcoin'll stay around, its purchasing power'll exceed $1 mln 2017', I'd say. It's so useful potentially, beyond comprehension

iam not believe about statement agree bitcoin price can incraese on million dollar
maybe not calculate about sending fee, if bitcoin price is very high, so sending fee is high too, every sending, fee 100k satoshi equal 1000 dollar
is amazing with sending fee, so if sending fee 1000 dollar, bitcoin user still use bitcoin, still sending bitcoin is nothing, bitcoin user can move another coin

If/when BTC reaches these heights, we wont be measuring it against the dollar anymore.



Neo: What are you trying to tell me? That I can dodge bullets?
Morpheus: No, Neo. I’m trying to tell you that when you’re ready, you won’t have to.
The Matrix

(I couldn't find the Meme!)

Some guru's are saying that in time bitcoin could reach this price and it's possible, but will it happen? Probaby not. A lot of forecaster are not aware that there are so many altcoins competing for this place and tat makes this price an utopia.

I'm not sure if the price would like to reach the $1 M/bitcoin in one day which means a lot of difficulty is increased to the point where a single coin for mining that you will have to start 1000 ASICs for 1 week to mine it, people like me another coin that costs a lot less to me.
It doesn't make sense for the highest price achieved was not possible due to too high if it reaches $10,000/btc it might happen but 2 years into the future

It is possible.We could understand that if we had said that one bitcoin would be worth of @2900 in future when its price was just $1,they would have laughed at us saying that its highly impossible.But now that impossibility has become a reality.So,one day when most people know about bitcoins,there would be an ever increasing demand for bitcoins.But there would be no more new supply of bitcoins.So at that time,price of one bitcoin may become even a million.

I think the better question is will be total market cap of all digital assets reach $20 trillion.

This looks almost impossible to reach as the price depends on the demand and with other countries banning it, it honestly becomes practically impossible to get there, but a 100k dollars might happen on one condition that we keep telling our friends about BTC to grow the community and demand

yes you are right if the demand of bitcoin increases then its price will also be increase and it is true that those people who hold their bitcoin or invest their money in bitcoin will be very rich and millionaires, but i think we do not need to expect much because great expectations from something always give great sorrow.

I think it really can worth 1 million of $ one day. The demand sets the price for bitcoin and today it's not the maximum that bitcoin can reach, just think that it's limited with 21 millions and how much people will want to have it. I'm sure this fact will make the price sky rocket and holders will become millionares.

I believe that one day the market value of Bitcoin will get close to $10,000. But the possibility of the market value of Bitcoin reaching  $1m is just a mere assumption that would may not come to pass. But if it eventually come to pass some of us that has less than one bitcoin in our wallet willl become millionaires in our own local currency.

I'm guessing he was talking in relation to todays purchasing power. In that regard I will say its completely impossible, sure the price will go much higher but bitcoin is still just a speculative currency at the moment and I can't ever see it having a marketcap of over 1 trillion unless a much more significant amount of bitcoin is lost or burned but counted in that number.

It could only possible if the remaining miner stop the process of mining BTC
The price is of course will pump and it could reach significant amount that a person can't buy a whole BTC

Everything is possible. However I doubt we will see a  $1million coin in our lifetime.
The next question is what the purchasing power of that $1million per coin would be? A loaf of bread?! A house?!
Imo this is speculating way too far into the future.
Let's look and wait for what is going to happen until the end of 2020, in terms of price, after next halving.

Your thinking about it all wrong. USD also has a huge risk of quickly loosing value even if Bitcoin does not gain in value (vs gold, land or food) for example.

I guess that's impossible, even to increase $ 500 in 1 day is still very difficult. Well, at least, we are eagerly awaiting it, because bitcoin prices also have never reached such a high price. Probably the most sensible price I currently think is $ 3000.

Just because of the increasing value of bitcoin fiat never goes worthless. From the beginning bitcoin is calculated in terms of fiat, right now the usage is very small compared to the fiat usage. The fiat usage might decrease to some extent, but this never goes out of usage. If that's the reality already something with fiat might have taken place. Bitcoin always serve to be secondary just because of decentralization.

I agree with this. I think it will definitely hit $100k at some point in the next decade but its growth by then will probably slow down to the level of a decent stock.

If Bitcoin grow at 50% annually till 2027, it will reach $100K per BTC.  However, if it continue to grow at that rate till 2037, a BTC will be $8M!  LOL!
Knowing that it is not possible, but the power of compounding grow is amazing!  No wonder employers only give us 0% to 2% raise per year.

No. There will be another cryptocurrency that people like or bitcoins will slow down around the $100k mark. No matter what $1million will be impossible unless $1million buys you a used car because fiat is nearly worthless at that point.

Forget it, if it happens it is not going to be in our lifetimes, many like the idea of bitcoin to reach those absurd values since that means we will all become rich but that is not going to work, it is better to accumulate as many coins as possible.

Of course it is possible, especially since there is no time limit. Furthermore, it is only a matter of time before $1 million won't be worth much anymore.

I don't believe in such a scenario. I guess people inspire the growth of bitcoin in 2013, but it seems to me that more of this will be gone. In any case, even if it is not it is not a reason to abandon bitcoin. A currency that has no inflation is already very good.

Cramer says it's possible bitcoin could reach $1 million one day
http://www.cnbc.com/2017/06/07/cramer-says-its-possible-bitcoin-could-reach-1-million-one-day.html

Bitcoin Will Hit $1 Million in 5-10 Years, Says PayPal Director
https://www.cryptocoinsnews.com/bitcoin-will-hit-1-million-5-10-years-says-paypal-director/

 

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. 

I actually have read quotes by Bill Gates, agreeing to this *potential. I will have to find that source.
I have many times heard on various media that if bitcoin trends stay close to the current upwards trail it will be enough to buy a home with a single Bitcoin in 25 years.  Amazing?  Yes. 

This reminds me of a comment Hal Finney, the earliest adopter of Bitcoin beyond Satoshi, that was mentioned in the book Digital Gold by Nathanial Popper.

Hal, who was on the mailing list that Satoshi first sent the white paper out to and was one of if not the first person outside of Satoshi to start mining bitcoin, stated to this mailing list (shortly after the idea for Bitcoin was proposed)...


And by his calculations that would make each Bitcoin worth some $10 million.


Something to think about indeed.

it may seem unrealistic or even impossible now and i also though this way but when you look back at the time when price was $1 for example, $1000 or $2000 seemed unrealistic and impossible too!
and the supply is really small compared to all the demand. and as we add SegWit and then add LN to be able to handle that kind of demand, that price becomes a lot more possible.

Some said it will.  What do you think?

(The estimated 2017 GDP in the US is $19.4 trillions.  If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions.  Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)