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Topic: Bitcoin hitting $1 million is possible. (Read 536 times)

hero member
Activity: 896
Merit: 654
Leading Crypto Sports Betting & Casino Platform
December 04, 2024, 06:07:43 AM
#60
Watch this video.👇
https://x.com/TheBTCTherapist/status/1861924136160751948?t=mV3zjl6Klgwo0LFxclOgtw&s=09

When Bitcoin was created a lot of people never believed Bitcoin will grow this big and now some people still don't believe Bitcoin can hit $1 million.

Watch this video. 👇
https://youtu.be/TStHIUrGZY8
It's not new to see people calling big values in favour of Bitcoin at this stage in every 4-year cycle, but over time, you see them shutting up again, that's the excitement and hope Bitcoin brings during the bull run. Are all of these predictions feasible? Well, time will tell, but I can tell you that Bitcoin will face enough liquidity issues of its own before reaching $1m, that level is huge, it might take decades.

It's all being said now that Trump will make Bitcoin a strategic reserve, well, I am still looking forward to seeing how this guy will make it happen. However, if he is successful, many countries will follow and this will seriously push Bitcoin higher. But I seriously doubt if that strategic reserve will ever happen or happen as big as widely thought.
hero member
Activity: 2996
Merit: 536
Leading Crypto Sports Betting & Casino Platform
December 03, 2024, 11:41:51 PM
#59
Not in nearest future
sure, but it's an obvious trajectory that bitcoin gonna eventually achieve.

deflationary, capped total supply, circulating supply reduced due to lost bitcoin, and massive mining power, these are all such an obvious sign that bitcoin at some point gonna reach $1 million.
it's just a future waiting to be fulfilled at some point, maybe not today, since even with $100k people are already so excited, but wait until there's worldwide adoption of blockchain technology and bitcoin will be branded as pioneer of that technology advancement, $1 million a bitcoin gonna be a piece of cake.

can't wait for the world where people realize that blockchain is the future of financial efficiency.
jr. member
Activity: 36
Merit: 23
December 03, 2024, 04:34:33 PM
#58
Not in nearest future
We shouldn't bridge positivity in the market, we are very far from reaching Bitcoin at $1M but i so much agree it is undeniable to happen. "Not in the nearest future" but certainly in a few complete cycles from now we will definitely make that target, Bitcoin started from Cents and now we are just a step ahead of reaching our first $100K, those who are holding until now are same people who had one day believed in the market and trusted every data from the market. It never took too long to make it here, same with how unconscious we might be when the price raises up to $1M.
hero member
Activity: 2408
Merit: 584
December 03, 2024, 03:34:30 PM
#57
No need to worry about the current situation because that will change to the better. Having patience in hodling Bitcoin is a must because we will see many corrections that can make our minds confused.
The situation in crypto is in fact fine but yeah, unfortunately that still can change later on but before that, we might have sell and enjoy our profits already and we still can take advantage of the dip by buying the coins cheaply, to be able to start a new season again. Corrections are normal but even if let say the price only rise consistently, it is still better to have a patience to continue hodling to be able to see a higher price and sell at them for a bigger profit. As long as you have a proper briefing, you will never be confused here. Ups and downs are not there to confuse us but they have their own purposes.
legendary
Activity: 2408
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Leading Crypto Sports Betting & Casino Platform
December 02, 2024, 10:25:24 AM
#56
~

Too far to say it lol. There's a HUGE difference from going to 1k to 10k compared to 100k to 1mil. Heck, we haven't even hit 100k yet. Might argue that we're pretty close to it but the market is volatile, it can completely turn itself around for some reason lol. Wouldn't be surprised if it takes half a decate to a decade really. Though I guess considering we did go from 0 to idk, 70k ish in a decade, saying it'd only take another is probably too fast for it already.

I agree with you, even if we reach $100k, thinking about the $1 million goal is still too far away. You're right, there's a huge gap between going from $1k to $10k and from $100k to $1 mil and that huge gap is bitcoin's market cap. We would need $21 tril for bitcoin to reach $1 million, I wonder where we would get this huge amount of money. But many people ignore this and think that increasing x10 is simple and doesn't make any difference.

Bitcoin can grow millions of percent in just 15 years but we only need a little over 2 trillion to do that but for bitcoin to reach 1 million dollars we need 10 times that amount. It will take longer than we think, I think it will even take decades if the demand for bitcoin is still there in the future.
hero member
Activity: 3080
Merit: 603
December 02, 2024, 10:03:28 AM
#55
Not in nearest future
It will take time. While the optimism is in there, this kind of news needs time to materialize and to see the effect of it. And when Trump is in the office, he's only got some limited time to implement and make this into reality. I hope that the people that he assigns to make it work will focus on it entirely until it becomes an actual thing. I'm positive that we'll see $1M soon with so much factors and with halving too. But it won't be there too easy but because we're in a bull run, it looks going to be easy but I don't think we'll have a flat line of path going there.
hero member
Activity: 3010
Merit: 666
December 02, 2024, 09:43:11 AM
#54
Too far to say it lol. There's a HUGE difference from going to 1k to 10k compared to 100k to 1mil. Heck, we haven't even hit 100k yet. Might argue that we're pretty close to it but the market is volatile, it can completely turn itself around for some reason lol. Wouldn't be surprised if it takes half a decate to a decade really. Though I guess considering we did go from 0 to idk, 70k ish in a decade, saying it'd only take another is probably too fast for it already.

In the long run, we'll likely hit that price because we're talking about its value here, and inflation might increase, making it possible. What's $100k today might only be worth $50k in the future, that's how inflation works. Since it's tied to the dollar value, if the US economy struggles, hitting $1 million could become easier. I don’t want to get too deep into that right now since it’s still a bit early to discuss. But I agree, we need to see Bitcoin hit $100k first before even thinking about the $1 million mark, which, to be fair, not even all experts are predicting yet.
hero member
Activity: 2604
Merit: 816
🐺Spinarium.com🐺 - iGaming casino
December 02, 2024, 09:27:50 AM
#53
All you need to do is to keep accumulating and hodling be consistent and patient this two things will help you achieve success in your Bitcoin investment.
That is what we must do if we want to make a big profit. No need to worry about the current situation because that will change to the better. Having patience in hodling Bitcoin is a must because we will see many corrections that can make our minds confused. So that is why we must have a strong hand to be able to hodl our Bitcoin until the time to sell Bitcoin comes. Although hitting $1M is possible, we still don't know when that will happen and right now, we are waiting for the price to hit $100k and make another new ATH. So you must keep accumulating consistently and hodling by patient and be positive.
hero member
Activity: 2702
Merit: 672
I don't request loans~
December 02, 2024, 09:16:54 AM
#52
~

Too far to say it lol. There's a HUGE difference from going to 1k to 10k compared to 100k to 1mil. Heck, we haven't even hit 100k yet. Might argue that we're pretty close to it but the market is volatile, it can completely turn itself around for some reason lol. Wouldn't be surprised if it takes half a decate to a decade really. Though I guess considering we did go from 0 to idk, 70k ish in a decade, saying it'd only take another is probably too fast for it already.
copper member
Activity: 44
Merit: 13
God Is In The Neurons
December 02, 2024, 03:39:44 AM
#51
Not in nearest future
hero member
Activity: 3010
Merit: 666
December 02, 2024, 03:32:31 AM
#50
After a few bullish cycles to come, I don't think $1m is out of the question. But now, I also agree with you because after all $1m is still too far away to be expected to become a reality. An important goal to reach now is $100k, but it still seems difficult after a few tries. The market looks more stable so far for bitcoin although a few days ago it tested the $90k support for a while, but the rebound was quick and now the price is approaching $98k.

I still find it hard to believe that Bitcoin will be worth $1m in the next 1 to 4 years, but if the bullish scenario this time remains the same as it has been in the past after the halving, then the $1m price prediction might be reasonable. However, this is a prediction and is clearly not necessarily true even though it is possible.

yeah, let's take it one step at a time, as stable growth of Bitcoin is good for the future. Imagine if Bitcoin actually hits $1 million, sounds amazing, right? But then people start cashing out, panic spreads, and Bitcoin crashes back below $100k?  This could lead to a loss of confidence in the market due to high volatility. Actually, it's good that year by year the volatility has been decreasing, which signifies a more stable market. So, I say let's go one step at a time, $100k, then $200k.
hero member
Activity: 2520
Merit: 783
December 02, 2024, 03:21:48 AM
#49
That was a big claim to make before Bitcoin was even 10k USD. At the time, the majority thought Bitcoin hadn't proven itself. Now Bitcoin has almost reached 100k and after 15 years, Bitcoin has proven itself in the financial markets. It's not a big deal to say that it will be $1 million after this time, it's already expected to happen. It won't happen in this or the next bull period, but it will happen one day.

Correct, since any speculated figures is acceptable since we don't know what future would bring on bitcoin. To many doubts before if bitcoin could hit this current figures and bitcoin proves that those doubts is wrong since we are here almost reaching $90k+ at the moment. The one speculated by people now is on when the $100k price would be hit since for sure that this will bring new good looks for people and imagine the exposure it will get if Bitcoin finally would reach at 6 digits in figures.

$1m is possible to happen so lets keep forward on what other good developments will happen that can help bitcoin to reach that price.
EFS
staff
Activity: 3934
Merit: 2224
Crypto Swap Exchange
December 01, 2024, 02:26:24 PM
#48
That was a big claim to make before Bitcoin was even 10k USD. At the time, the majority thought Bitcoin hadn't proven itself. Now Bitcoin has almost reached 100k and after 15 years, Bitcoin has proven itself in the financial markets. It's not a big deal to say that it will be $1 million after this time, it's already expected to happen. It won't happen in this or the next bull period, but it will happen one day.
legendary
Activity: 2464
Merit: 1387
December 01, 2024, 01:51:54 PM
#47
snip

P.S. Bitcoin reaching $1 million has been and will continue to be possible with or without US imaginary strategic reserve.

I believe this to be the case

But the cat is out of the bag now and we could be caught in the middle when, as the OP's post states
-the rest of the world wakes up and decides it needs to have Bitcoin in their reserve.

$100k is absolutely massive on Bitcoins upwards trajectory and now that this has been reached* all of
a sudden $1m is no problem.

I still don't get the whole idea of the US government making Bitcoin a "strategic reserve". I thought that Trump was joking, when he proposed this(or maybe he was desperately trying to get votes from the crypto community). What is so "strategic" about Bitcoin? Bitcoin isn't like oil and gas or precious metals. Bitcoin is a bunch of code and nothing else. Holding lots of BTC won't help the US government in case of a global war or a global natural disaster.
At this point the Bitcoin pump looks more and more like the "tulip mania" in the Netherlands. Everyone wants to profit from the bubble and nobody knows when the bubble is about to burst.

Huh

Quote
What is so "strategic" about Bitcoin? Bitcoin isn't like oil and gas or precious metals.

erm - have you not watched at least 1 video of Michael Saylor?

21,000,000
Decentralised
Deflationary
Secure global network
Digital money
Unconfiscatable
Isnt like oil and gas or precious metals - Oil and gas are commodities, Bitcoin is an asset
On Gold M.Saylor said "Bitcoin has all the the metal's great attributes, but none of its problems."

Quote
Bitcoin is a bunch of code and nothing else
100% correct
Finite supply
Decentralised
Deflationary
Secure global network

Quote
Holding lots of BTC won't help the US government in case of a global war or a global natural disaster.
best to keep holding Gold then cause that helps in times of global natural disaster and war

Quote
At this point the Bitcoin pump looks more and more like the "tulip mania" in the Netherlands. Everyone wants to profit from the bubble and nobody knows when the bubble is about to burst
Bitcoin has moved on from that way of thinking, there is no bubble because there are new investors
with a new way of thinking about a new asset class.

Tulips were commodities



hero member
Activity: 1106
Merit: 526
Leading Crypto Sports Betting & Casino Platform
December 01, 2024, 01:25:04 PM
#46
$1 million is just a matter of time for bitcoin but it’s very possible in my opinion and view about it. Bitcoin since inception has really made a lot of progress and it continues to show that positive growth till date. We are currently in the bull run season where we are expecting that bitcoin will hit $100K soon. This is a price a lot of people have been anticipating for bitcoin in this bull season and sooner they’re all expecting it to reach and cross that mark. The early adopters when asked when bitcoin was invented whether it’ll reach this price value one day, they won’t be so confident in saying it will, but after seeing the massive growth from that time till now, they will not hesitate to not deny that bitcoin will not reach $1 million one day, it’ll just be a matter of time just like it was a matter of time for the price to reach what it is today. The positive progress of bitcoin can’t be denied and no one will want to deny that it won’t continue on this trend for years to come.
legendary
Activity: 2464
Merit: 2094
December 01, 2024, 01:10:23 PM
#45
~~~

Not gonna happen anytime soon. Right now, we’re just aiming to hit $100k, and even if we get there, breaking through to $1 million is gonna be tough. After the bull run, we can expect a heavy correction because that’s just how the market works. If the same cycle happens, it could take years before we hit $1 million, if we even get there at all. It's fine to dream of that price since Bitcoin started at less than $1 and look where it is now, but we gotta be realistic about the timing.
After a few bullish cycles to come, I don't think $1m is out of the question. But now, I also agree with you because after all $1m is still too far away to be expected to become a reality. An important goal to reach now is $100k, but it still seems difficult after a few tries. The market looks more stable so far for bitcoin although a few days ago it tested the $90k support for a while, but the rebound was quick and now the price is approaching $98k.

I still find it hard to believe that Bitcoin will be worth $1m in the next 1 to 4 years, but if the bullish scenario this time remains the same as it has been in the past after the halving, then the $1m price prediction might be reasonable. However, this is a prediction and is clearly not necessarily true even though it is possible.
jr. member
Activity: 61
Merit: 3
December 01, 2024, 11:12:15 AM
#44
This is very similar to how the early adopters of bitcoin when it was around $600-$700 must have envisaged bitcoin reaching $100k and now here it is and closer than ever.
 $1m is a whole lot but it's also possible for it to happen in the future. More investors can also act as a contribution to such increase in price. Meaning if it happens the market cap(price × total supply) of bitcoin will definitely be 21 trillion. That's indeed a whole lot.
hero member
Activity: 1974
Merit: 539
Leading Crypto Sports Betting & Casino Platform
December 01, 2024, 09:10:43 AM
#43
I still don't get the whole idea of the US government making Bitcoin a "strategic reserve". I thought that Trump was joking, when he proposed this(or maybe he was desperately trying to get votes from the crypto community). What is so "strategic" about Bitcoin? Bitcoin isn't like oil and gas or precious metals. Bitcoin is a bunch of code and nothing else. Holding lots of BTC won't help the US government in case of a global war or a global natural disaster.
At this point the Bitcoin pump looks more and more like the "tulip mania" in the Netherlands. Everyone wants to profit from the bubble and nobody knows when the bubble is about to burst.

Trump is not the only one thinking about this idea, Senator Lummis also proposed that the government should sell a portion of its gold to buy bitcoin as a reserve strategy and diversify the national reserve assets .


Exactly, no matter how good bitcoin is, it still cannot be compared to other physical assets, but many stubborn people still deny this . But one thing we need to remember is that the United States is the world's leading power, the whole world almost depends on them . so if they do that, the whole world will follow. As long as they are the masters of the game , it will be very difficult to harm them .

Honestly, while I still want it to happen but I still have a lot of doubts about the idea. I don't think bitcoin will end as badly as the tulip bubble but it's also not as perfect as many people exaggerate .



https://thecryptobasic.com/2024/11/22/senator-lummis-calls-for-us-government-to-sell-its-gold-to-buy-bitcoin/
hero member
Activity: 3192
Merit: 939
December 01, 2024, 06:59:00 AM
#42
I still don't get the whole idea of the US government making Bitcoin a "strategic reserve". I thought that Trump was joking, when he proposed this(or maybe he was desperately trying to get votes from the crypto community). What is so "strategic" about Bitcoin? Bitcoin isn't like oil and gas or precious metals. Bitcoin is a bunch of code and nothing else. Holding lots of BTC won't help the US government in case of a global war or a global natural disaster.
At this point the Bitcoin pump looks more and more like the "tulip mania" in the Netherlands. Everyone wants to profit from the bubble and nobody knows when the bubble is about to burst.
hero member
Activity: 3010
Merit: 666
December 01, 2024, 04:48:40 AM
#41
$1m for this bullrun cycle just seems too far fetched since money needs to come from somewhere. surely at some point, if many governments support legalization of BTC it will get as big as gold but it needs time.
I think within a decade we will be nearing that valuation though.

Not gonna happen anytime soon. Right now, we’re just aiming to hit $100k, and even if we get there, breaking through to $1 million is gonna be tough. After the bull run, we can expect a heavy correction because that’s just how the market works. If the same cycle happens, it could take years before we hit $1 million, if we even get there at all. It's fine to dream of that price since Bitcoin started at less than $1 and look where it is now, but we gotta be realistic about the timing.
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