Topic: Michael Saylor predicts Bitcoin can go to $5 million? - page 3. (Read 856 times)

Yes, at least speculation can be calculated logically that with time and what kind of process Bitcoin can reach 5 million, perhaps it can be understood, but if it is just expectation it will be like nonsense.
The large demand will definitely make bitcoin very valuable. That is the market mechanism in general regarding goods, we understand that very well, including the scarcity which is the value of bitcoin as the reason people want to own bitcoin.
But have you ever thought that for bitcoin to make a significant movement there must be another trigger as a means for people to become more interested in bitcoin, such as in the previous cycle bitcoin was accepted as a means of payment for purchasing Tesla cars and that triggered a market reaction that caused a spike in prices.

Remember this?
https://cointelegraph.com/news/john-mcafee-doubles-down-predicts-1-mln-btc-bets-his-dk-on-it

I bet that these predictions are truly baseless or else BTC would have at least crossed $100k during the recent pump based on many factors, which it didn't. TBH, I believe that taking rational decisions on trading and buying BTC should be advised to new investors instead of luring them with such insane numbers which we know that it's literally not easy to attain.

I didn't said that every holder will become millionaire as that's something impossible but I said that most of the holders will be millionaires. If we check the current number of wallets that hold 1 Bitcoin then that number is more than 1 million wallets, and if future the number of wallets with 1 Bitcoin will be much higher than that. According to LookintoBitcoin, the current number of wallets holding 1 Bitcoin or more is around 1,020,375 as of Sep 19 2023 and the number will grow to more than 2 million wallets in a few years. I think if Bitcoin even reaches $1 million in value then all of those wallet holders will be millionaires. Yeah, I'm sure that there could be people with multiple wallets having 1 Bitcoin but still all of the wallets will be around $1 million in value if they hold 1 Bitcoin when the price reaches that value.


Yeah, if we speak logically then Bitcoin hasn't even touched $70k, but in predictions we avoid logic and see the things with analytics, and statistics. The Bitcoin has potential to grow much higher in value and we can't ignore that thing but for now it's not anywhere close to even $60k, but surely in future the scarcity principle will work with Bitcoin as well and the value will grow enormously. When the supply is low and the demand is high then the value will also rise, and that's something which is going to take place after each halving event. During each halving event the number of Bitcoin in a block reduces to half and that creates some scarcity and which works to increase the price of an asset. We should also keep that inflation that happens with fiat and that's why Bitcoin can grow much higher in value in future. 

In making predictions, everyone is free to speculate about the results of their predictions, whatever it is, there is nothing wrong with it, and for me personally the Bitcoin price of $5 million is an impossibility that is in my mind right now when I hear that number.
Maybe my thinking is the same as people who bought pizza with bitcoin in the past.

In my opinion, any formula for calculating this still doesn't make sense, logically we haven't even touched on $1 million, how could it be possible to get a price of $5 million so easily. But dreaming is indeed more beautiful than lamenting reality. LOL

The important thing we can do is to calculate a reasonable target and collect the bitcoins we can.

Well, not every holder will become a millionaire if Bitcoin hits $1m because they don't all hold 1 or more than 1 Bitcoins. The amount of Bitcoins in circulation is spread into the whole population that has some Bitcoins in their wallet and the percentage of people holding 1 or more than 1 Bitcoins is not really that high, I believe there must be some stats regarding this that we can find somewhere if we do some research but I'm pretty sure about what I'm saying.

However, if Bitcoin manages to reach that price, it will surely make every at least wealthy to some extent, because even if you are holding 0.1 Bitcoin, you will have $100k which is not a small amount no matter in which part of the world you are. So, that will be great and all, but it's nothing more than just a prediction.

Speculations would really be flying out everywhere and people would really be that free on giving numbers since its free and we do have our own opinions on what we do see into its potential.
If they do see for 5 million per coin price then so be it and we do have our own approach as well on which it would really be that normal that we would really be hesitant which the price didnt been able to break up even $30k after this long time of stagnation and now we are hoping for a million per coin which i cant blame on why people would really be counter reacting with this kind of speculation which it is really that off the charts
or something that might not be able to happen even in our dreams.

Lets just be realistic at least and will really be that mindful or thinking about those probabilities that would really be seeing to happen on later years.
Everything will takes time and lets see on how far demand would go in later years and this is something that cant be known.

BTC Price Predictions do not only come from Michael Saylor but there are many others if we read in the media related to the world of digital currency as well as from several questions in forums too. But, I think that is the aspiration of BTC holders who have a large amount even though it sounds too high. If we look at market movements, it hasn't shown any significant changes. BTC needs to climb higher by the end of this month at least the $35K mark will be broken first.

Bitcoin reaching 1 million or 5 million is what any investor wants, but we should be a little realistic and not be too delusional because if things do not go as expected, we will be disappointed. Bitcoin hasn't reached 100k USD yet but we are already thinking of a higher price, isn't that an illusion? We are investing with our hard-earned money, so be realistic and careful to avoid the most unfortunate risks, always do your own research and stop believing what others say.

I would always go opposite into those kind of predictions whenever these known billionaires or institutional personalities would really be making out these kind of sentiments.Whenever it would really be a positive sentiment then i would go for selling position but if it would really be that negative news or words then i would really be going for buying position on which it turns out to be that a good thing for me and it seems that this had been that a good basis whether you do buy or sell on these conditions on which its never been that something new that these news or sentiments could neither give out some effects or not.It would really be entirely be depending on market demand and recognition plus the emotions that circles around.

$1M - $5M predictions are really that something on that delusional part because if we do tend to look on the current price movement or even in the past where it cant really be just that
possible that we would really be reaching out those numbers in short time or even with our life time. Everything would really be according to acceptance and recognition in the
end of the day on which it is something that cant really be controlled.

I don't know if it's a coincidence or there's some reason behind it but we have to admit that every time this guy announces to buy more bitcoin it seems like the bitcoin goes down a few days later, laugh.

As for this guy's prediction, I don't understand why so many people are always interested in famous people's statements. Do they have any proof to support their prediction? Or are they just wild predictions to attract attention to themselves like many people have done? In investing, it's best to do your own research and stop trusting anyone, especially social media influencers.

Predictions without guarantees are mere chatter. Anyone can say Bitcoin will reach $10 million or even $100 million, but when? All possibilities do exist, and talking is the easiest way, for it only requires a mouth.

$5 million is a substantial figure, and it does give me a bit of concern regarding the actions the government might take in response to such a moment. The public will be fixated on Bitcoin's movements, and inevitably, the government will need to intervene to bolster Bitcoin regulation. Will the government tighten Bitcoin laws further if the price reaches $5 million? No one knows what negative consequences may accompany the rise in Bitcoin's price.

I'm not surprised that Saylor is saying crazy targets because that's his job and people saw him for what he is in the last bull. For me, his statements don't matter at all. I see him as a cryptocurrency sell indicator. To this day, every time he tweets or makes a statement about Bitcoin, it's followed by a drop. He seems to be one of the ardent defenders of Bitcoin but this may not be the case and Saylor was one of the actors in the dot com bubble and was prosecuted. Every time this guy says he bought Bitcoin, Bitcoin falls. He acts as a reverse indicator. I love him.

To me that is also an exaggerated price and I don't even believe bitcoin will reach that price no matter how many years it takes, let alone 10 or 15 years. Michael Saylor is indeed a big whale in the market but that doesn't mean what he says will definitely happen. Furthermore, it was just as baseless a prediction as any of us, nor could he provide any evidence for his prediction. I don't know what his purpose was in making such a prediction, but it was really exaggerated and unreliable.

If we're talking pie in the sky epic price targets then for any attempt on realism we have to be referring to assets in the trillions.    Every asset works in parallel to value elsewhere, some value is created but some of the appreciation in BTC would come from the decline in usage of paper currency and various alternatives.  This can happen anywhere nationally but I think for this size of change and large price we are talking about Dollar reserve or world traded currency, some part of that would ideally need to come to BTC to match this prediction and scale.   
   Most obvious to me is a reference to the dollar index, for BTC to go up this much the DXY has to be trending down.  Its not presently, some would say its bullish but I think sideways and possible it can decline if we lose 100.


Its a rough crop on Dollar Index but I'm looking for how often we've met a similar peak or low in this area.  2022 July we found this 105 area as a low before later rising to 112 on DXY in the autumn.  Now we are establishing if 105 will be a high and establish a counter to the low of sub 100 earlier this year, a lower range would be the start of a lower valuation of a trillion dollar asset market place presumably meaning value can move elsewhere.  Despite higher rates I think this is possible as inflation still devalues the value of dollar relative to almost everything else.

Don't you believe that anything can happen that will make the price of Bitcoin to hit $5 millions, but it can be 10 or 15 years to come before such price will occur in the market, and for Michael saylor to give such prediction in the public without indicate the years the price will hit $5m show that is a good prediction. I believe the price of Bitcoin will not remain low like what investors are going through now in this bearish season, because is making some bitcoiners not to solve some issues that requires money because they don't want to sell their coins now until the price reach $200,000 or above before they can sell. Based on what we have experienced from Bitcoin over some years now, show that people will begin to experience $100,000 from next year which is my prediction.

Michael Saylor is one of the biggest public whales of Bitcoin. I think we could say Elon Musk too. Anyways he can suggest anything extraordinary for price because its gonna help him make money. Bitcoin hitting 5 million dollars in couple of years is impossible. Most newbie traders think when they see news "wow Bitcoin going 5 million in a year?" so easily manipulated. Don't get me wrong I believe Saylor is nice guy but suggestion is exeggarated. I would rather say 100-120k in next bull run.

It is because Bitcoin has exceeded those predictions. Like people in the past have been speculating that $20k will be reached again and then it did happened but what's next? It has surpassed that price to another ATH which resulted as x3 from the past ATH.

Yeah, that is for real.
The next halving will be lit and aside from that awaited event every 4 years, we're also gonna catch the impact of those Bitcoin ETF that has filed by several financial institutions.

Bitcoin has been live now fourteen years and not 10 years ago, which means it's more than a decade, also within the journey of this 14 years of consistency, bitcoin has risen from 0 dollar where it started to about $68,000 all time high, now that we are moving close to the next 2024 halving, bitcoin will mark another all time high and so we go on because the value and it's acceptance increases everyday and people are making demands on bitcoin adoption from every part of the world, Michael does not have to convince people before they make their own commitment with bitcoin use because it has every solution to financial centralization challenges.

I always say that bitcoin started its journey ten years ago from 0 USD and in a decade time it touches 67k$. None in human history has gained so much in this duration. We still don't know what lies ahead of bitcoin price. It may by 5 million or more. The reality is that no price prediction has gone right so far about Bitcoin. The next major event coming up is halving next year and it will tell alot about future bitcoin price.

I think it's unrealistic that $5M in the next 10 years or so will certainly cause other effects that bitcoin can influence this surge, who would have thought that with someone having 0.01 BTC alone at a price of $5M he would have become a millionaire. 

For more than a decade bitcoin has increased from $0 to a high of $69K of course it is the fastest growing asset compared to other assets, we always believe that bitcoin will continue to grow over time and continue to pass its umpteenth halving, but for $5M for me it is unrealistic, maybe it should spend the entire halving in 2132 during which time we will no longer exist.