Although it came later than McAfee's (rest in peace) crazy prediction, I think PlanB's Stock-to-Flow model was one of the first I remember seeing to hint at a potential $1 million Bitcoin. While I don't think he specifically mentioned a $1 million price target, his model definitely suggested that Bitcoin could reach that kind of crazy number during this bull cycle, before the next halving. It was pretty exciting to see the potential!
Topic: The BTC to $1M thread - page 5. (Read 1131 times)
In any case as of today $1M per bitcoin no longer seems crazy, it no longer seems so far away, and I am creating this thread for us bitcointalkers to share experiences along the way.
No coiners mocked Bitcoin could reach $1k on the early days and then laughed about $100k but they cannot deny it anymore that we're going there soon.They mocked, laughed and now wanna have it but when they do it's likely that they won't have it because their thoughts will fight about it telling that it's already expensive for them to have it.
I'd be happy to be part of this historical thread soon, hello people of the future!
In any case as of today $1M per bitcoin no longer seems crazy, it no longer seems so far away, and I am creating this thread for us bitcointalkers to share experiences along the way.
Bitcoin price today is only at 9.7% of the stated target price. I wonder how many 4-year cycles is needed for BTC to hit $1m a piece. It may take more than a decade if we assume that the price growth of Bitcoin's ATH every cycle will be followed.
Is it unlikely? Yes, impossible? No. This is one of my posts a few weeks ago, in a speculation topic regarding whether the price is going to hit $100,000 within 2024.
As you can see, I was quite confident believing that it's unlikely to surpass $100,000, but I was proven wrong, it hasn't surpassed it yet, but it doesn't really matter at this point, it reached $99,600, which is basically the same. With that being said, we shouldn't rule out any possibility, although $1 million seems extravagant, it might be possible in the distant future.
I agree. Moreover, I believe that we do not have enough statistical data to accurately claim that history repeats itself, a few cycles do not necessarily prove that it's a pattern that will always repeat itself. From how I see things, Bitcoin certainly won't surpass $100,000 nor achieve a new ATH in 2024, perhaps it'll happen sometime in the first half of 2025 (the new ATH) but I can't be certain judging by the current economical situation and the war in the Middle East. If things go south, and they're heading that way, it's difficult for any kind of investment to thrive.
As you can see, I was quite confident believing that it's unlikely to surpass $100,000, but I was proven wrong, it hasn't surpassed it yet, but it doesn't really matter at this point, it reached $99,600, which is basically the same. With that being said, we shouldn't rule out any possibility, although $1 million seems extravagant, it might be possible in the distant future.
Well there is nothing set in stone for Bitcoin price, and we also know that Bitcoin market often put analyst into shame... so it is normal for people like us to get it wrong. Besides October is often an uptrend for Bitcoin market, plus the hype of Trump's support for Bitcoin, so it is not surprising to see Bitcoin price surge. If the hype from Trump's action is removed from the equation it would probably be a different story.
Is it unlikely? Yes, impossible? No. This is one of my posts a few weeks ago, in a speculation topic regarding whether the price is going to hit $100,000 within 2024.
As you can see, I was quite confident believing that it's unlikely to surpass $100,000, but I was proven wrong, it hasn't surpassed it yet, but it doesn't really matter at this point, it reached $99,600, which is basically the same. With that being said, we shouldn't rule out any possibility, although $1 million seems extravagant, it might be possible in the distant future.
I agree. Moreover, I believe that we do not have enough statistical data to accurately claim that history repeats itself, a few cycles do not necessarily prove that it's a pattern that will always repeat itself. From how I see things, Bitcoin certainly won't surpass $100,000 nor achieve a new ATH in 2024, perhaps it'll happen sometime in the first half of 2025 (the new ATH) but I can't be certain judging by the current economical situation and the war in the Middle East. If things go south, and they're heading that way, it's difficult for any kind of investment to thrive.
As you can see, I was quite confident believing that it's unlikely to surpass $100,000, but I was proven wrong, it hasn't surpassed it yet, but it doesn't really matter at this point, it reached $99,600, which is basically the same. With that being said, we shouldn't rule out any possibility, although $1 million seems extravagant, it might be possible in the distant future.
I've been thinking about opening this thread for a while now and I finally decided because I think it is now abundantly clear that this is not a question of whether the price will reach $1M, but when it will.
The first one that I can remember who said it with public resonance was the one who said that if the price didn't reach $1M by the end of 2020 he would eat his dick on national TV. Then we know how it turned out. I don't know if those of you who have been on the forum and in the bitcoin world longer remember any public figure or anyone on the forum talking about that possibility before McAfee. If so, say so and I'll post it in the OP.
In any case, after a disappointing 2020-24 cycle in terms of returns, where we started to talk about institutional adoption but it was much lower than expected, now it seems that institutional adoption is really starting. Michael Saylor is buying bitcoins for MSTR as if there is no tomorrow, the US president-elect promised to create a bitcoin reserve with the ones they already had but the Cynthia Lummis proposal to build up the reserve by buying bitcoin, up to 1 million in 5 years, has quite a few signs of becoming a reality, as there are 269 congressmen and senators in the US who are pro-crypto. Not only that, the US president-elect's appointments so far to his cabinet are mostly pro-bitcoin, people who have publicly stated that they have bitcoin holdings.
All of this we already know can unleash, and is already unleashing, institutional FOMO, leading to supply shock. This has led prominent figures such as Adam Back, creator of Hashcash and quoted in the White Paper, to say that if the strategic reserve goes ahead we should prepare for a 7 figure bitcoin this cycle. There are other characters, perhaps not as relevant but with public influence, who are in the same line, such as Samson Mow.
In any case as of today $1M per bitcoin no longer seems crazy, it no longer seems so far away, and I am creating this thread for us bitcointalkers to share experiences along the way.
The first one that I can remember who said it with public resonance was the one who said that if the price didn't reach $1M by the end of 2020 he would eat his dick on national TV. Then we know how it turned out. I don't know if those of you who have been on the forum and in the bitcoin world longer remember any public figure or anyone on the forum talking about that possibility before McAfee. If so, say so and I'll post it in the OP.
Although it came later than McAfee's (rest in peace) crazy prediction, I think PlanB's Stock-to-Flow model was one of the first I remember seeing to hint at a potential $1 million Bitcoin. While I don't think he specifically mentioned a $1 million price target, his model definitely suggested that Bitcoin could reach that kind of crazy number during this bull cycle, before the next halving. It was pretty exciting to see the potential!
In any case, after a disappointing 2020-24 cycle in terms of returns, where we started to talk about institutional adoption but it was much lower than expected, now it seems that institutional adoption is really starting. Michael Saylor is buying bitcoins for MSTR as if there is no tomorrow, the US president-elect promised to create a bitcoin reserve with the ones they already had but the Cynthia Lummis proposal to build up the reserve by buying bitcoin, up to 1 million in 5 years, has quite a few signs of becoming a reality, as there are 269 congressmen and senators in the US who are pro-crypto. Not only that, the US president-elect's appointments so far to his cabinet are mostly pro-bitcoin, people who have publicly stated that they have bitcoin holdings.
All of this we already know can unleash, and is already unleashing, institutional FOMO, leading to supply shock. This has led prominent figures such as Adam Back, creator of Hashcash and quoted in the White Paper, to say that if the strategic reserve goes ahead we should prepare for a 7 figure bitcoin this cycle. There are other characters, perhaps not as relevant but with public influence, who are in the same line, such as Samson Mow.
In any case as of today $1M per bitcoin no longer seems crazy, it no longer seems so far away, and I am creating this thread for us bitcointalkers to share experiences along the way.
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