Topic: What happens if bitcoin price hits 6 figures and up? (Read 557 times)

This will definitely happen, we just need time and that time will definitely come as the Halving period in April approaches. Yesterday the price of bitcoin almost formed a new ATH with an all-time high price of $67k, it is not impossible that in the near future we will see the price of bitcoin reach six digits. Of course, the higher the price of bitcoin, the more people become millionaires.

In the near future I also doubt prices will reach seven figures, although anything can happen in crypto because no one can predict it. But for me this seven digit number will probably be formed in the next cycle.

As long as there is demand and trust, whatever the asset is, it will rise high, but if it doesn't and is not profitable for the holders, it will be thrown away slowly, no exception, but for BTC I think this is still far from sight if we look at its performance and the increase in asset value and now we have seen the use of Bitcoin. implications in several countries.


Holding coins is very difficult to do. we have to control our thoughts and emotions while the value of our assets decreases drastically. To be a long-term investor also requires strong mental and emotional strength, price movements with high volatility. So if we can't control it I'm sure there will be losses in the end and let's see next action market after the big rise this week.

I think that's the point of having bitcoin, to hold it as much as you possibly could. I agree that some people like to trade it and I am fine with that and that would make sense if you are doing fine, but that doesn't mean that we are going to be doing fine at all times, sometimes we do fine and sometimes we just don't.

I believe that the best thing to do at this point would be keep holding it no matter what the price gets to. Having a trailing stop would mean that you could let it go up as much as you want it to go up, before you start thinking about selling. That way, you would only sell it if the price starts to go down a lot, and in that case it could mean that price might peaked and you are just selling to get out before a crash.

It's simple
Massive transfer of wealth: those that have held bitcoin for a longer time and have enough bitcoin like up to 50 and above would be rich and companies that have more would be richer, most persons that have more value in fait would be on the losing side and vice versa.

Bitcoin might or would become more stable like gold:
With that much value in bitcoin, high volatility would reduce cause little selling and buying of up to 100 million $ in fait would have very little impact on the market, so bitcoin would become more stable and a good or better store of value like gold

Late investors would regret and altcoins would become more preferable to invest for gains than bitcoin:
Anyone that fails to take advantage of bitcoin now would forever regret and might never have such opportunity to benefit from it again cause you need to be either so rich or earning so high for you to think of buying Bitcoin cause of the price and you would rather go for an alternative coin to get a better chance at profits.

Gone are the days of 10x or 20x : you would expect very little price increase from bitcoin since it has mostly stabilised.


Your mostly right, holding bitcoin is quite the task expecially when you have made profits from it and none like to hold till the bear comes.

Most persons into bitcoin now are here for the profits, we have very little investors that are willing to hold bitcoin and I wont blame them, IMO for you hold successful bitcoin should be more like savings or retirement plan kind of shit and not something you bought cause of profits and you need to be above kind of average level of life cause you can't be earning quite a few dollars and holding bitcoin or having rent issues and holding bitcoin.

Lots of things involved to be a successful holder like
1. having a well built emergency funds: you can't successfully hold bitcoin if its your all, just imagine having 50k in bitcoin and suddenly an emergency happens like your mom needs an operation, you've got no choice than to sell to treat her .

2.A well built source of income that can take care of your basic needs, savings and any extra expenses or lifestyle

3.Discipline: self control is your choice and you need to be less moved by greed or fomo in other to hold, cause if your are still moved by little price changes the no way your holding that shit for long.

Not exactly it makes all investors become rich or become millionaires. Of course, those who can afford to invest more will also earn more. But the question is if all investors can still hold when the price reaches 6 digits or if they are selling their BTC right away after hitting $70k. Because if we visualize the current situation, we are sure that many people are in FOMO already. How could they become rich from that kind of behavior?

If the price of Bitcoin will hit $100k, some are happy because they still hold while some are also sad for their early selling. Rich people become richer while poor people remain poor. Maybe average people can take their chance to become rich.

I think both will be equally present when the price of Bitcoin continues to increase to six digits or seven digits. Because currently there are many people who still believe in saving Bitcoin and they are still very happy to consider it as an investment for the future that will make them become millionaires or new rich people in their own environment.

I also think that the current bullish trend will continue in the Bitcoin market. Because yesterday Bitcoin almost passed the ATH number that was formed in 2021 and I am sure that this year Bitcoin could form a new ATH again with a more perfect number. But for now we still have to be patient and hold on until we actually see more fantastic numbers in Bitcoin.

Not sure if the cost of living will be affected of bitcoin price increasing , Rent and Food? why does this be affected in the first place.
but about the fee? not sure if this will ever go back to 25 cents because we have done long now that even if we are still not reaching 6 digits yet the price of fee is still higher.
if there will be more millionaire then that is because they trusted bitcoin that much and we must rejoice with them.

We have heard many stories about millionaires by holding bitcoin but my question is, have we met anyone or are these just stories we hear from many others? One thing to remember is that wealth is not for the masses, so even if the bitcoin price hits 6 figures or 7 figures, not too many people will become rich.

How many people will be brave enough to hold until bitcoin reaches $500k or $200k? Many people were adamant about their statement, but when bitcoin dropped 50%, they rushed to sell their bitcoin and this was common. Holding bitcoin is not as simple as we think, so don't think that when bitcoin is worth millions of dollars, many millionaires will be born.

History will always repeat itself, there will always be people who sell their bitcoins and regret it when they see the future price of bitcoins.

Not really something "unbelievable" because to be fair we are at a stage where it's already quite high, and nobody remembers but these were asked when it passed beyond 1k as well. Looking back right now, having a thousand dollars per bitcoin price was a magical period and it was insane, many people got rich, some of them even got out and living a wealthy life right now, even though they may regret not keeping it but they are rich, because we saw it go from just a few dollars to a thousand dollars.

Or you could say the same thing for ten thousand dollars, it was broken and nothing changed, we kept going. I think 100k would be the same thing, we will not really see the situation changing all that much, it would not be all that crazy to see it break over it.

Maybe your post is near to find answers because Bitcoin is not getting closer to that reality
of price , now that its closing to 70k then the next target would be 80/90/100k$ and if those happens
then we will see what will happen to bitcoin and the whole crypto market.
not sure about that 7 figures but yes there must be more millionaire if happens.

So there isn't an issue where if btc goes very high, like 6 figures and up and maybe even 7 figures... well there would be too many rich people and too much millionaires?

6 figures cannot make you live your dream life. Yes it will be larger in amounts, but still Bitcoins has more potential I would say. Yes only the OG long term investors will make great profits, if they wish to sell their coins after Bitcoins reaching six figures. Moreover, if we see honestly, then six figure price aren’t too far. We have already crossed half the track and more half to go. So yes, we need to accumulate as many Bitcoins as we can, else we will miss the profits definitely.

If bitcoin hits six figure what happens Is simple those who invested would be fucking rich and could afford their dream life, inflation and cost of living would definitely get higher and all those who are not in would be surely regretting their lifes to a sore, expecially all the haters and those who spent time , watching bitcoin doing nothing, so I think if can imagine this you should better go get buying more bitcoin.

OP, the cost of living does not go up just because Bitcoin goes up. Bitcoin is a very tiny part of the overall economy. Cost of living doesn't go up just because Bitcoin price rises, or just because there are more bitcoin millionaires. These things are just not related at all. Cost of living rises when people spend more money, but there aren't suddenly going to be millions of newly minted bitcoin millionaires, and even if there were, it's not like they are going to be spending all their money all of a sudden.


You're just trying to tie bitcoin prices and bitcoin millionaires to cost of living when there simply is no connection.

Having 1 Bitcoin for retirement may not be suitable for having a comfortable life in many countries, I agree that with that amount in my country and at the current BTC price, you will have a total of about 87 millions naira and this amount may sound huge but with high cost of things and for a family expenses it won't take long before you exist your entire saving,  and even though you have one Bitcoin or should be as a side investment and not a retirement fund.

But depending on what the value of bitcoin will amount to,  and if it did a 6 figure market movement that 1 Bitcoin fund could indeed make you leave like a king after retirement most especially in my country and many other developing countries whose currency is highly devalued for the united state dollars.

It will not have any negative effect if the price goes to $100k in the next bull run. That's what they says in the previous ATH run, that it will be detrimental, but then again, after the bull run, obviously the bear market will blanket the market again so there will be a lot of negative news again. So as the market is on a cycle and so does the attacks and the negative and then BTC dying.

And I don't think that those government that supports or at least in the gray area will make a U-turn for the west. On the contrary, just look at El Salvador, with the current price and with their huge investment by the Bukele government and him winning again, we will clearly see how BTC will positively affect them in a bullish market this year and the next coming years and probably there could be another government that will copy their success stories.

I don't think if Bitcoin hits 6 figures there would be any negative impact,I strongly believe it will affect the development of some banks,but it would be minimal some banks are now adapting AI developments and Blockchain technology.
Millionaires are emerging everyday,even some person that have maybe 2BTC according to your readings probably $2 million can still misuse the money, it's not a new thing,this isn't the first bull run either.
What will increase the price of goods will result from government policies, inflation, Development banks, decline in production,etc.
    Bitcoin and altcoins will benefit generations to come because of it immense possiblities.
So,I don't see anything that calls for concern, we just need a stable governmental system.

Just some sidenote that on the time that you do get old then it would really be always best on getting those life insurance plans and healthcare on which we should consider not to forget about these things on the first place
because this isnt really just talking about having no job or already retired on which there are other things on which you would really be needing to mind on. It would really be just that normal that we would really be
trying out to do our very best that we wont really be that ending up on having a job 8-5 or simply having those typical jobs that give us salary for us to survive on day to day living. There are really times
that we would be thinking on doing things on which it could give out that chance for us to retire earlier.

Going back into the topic that what if Bitcoins price would hit up 6 figures? Of course it would really be that a good thing for those who had bought on the bottom but if you are someone who
do have plans on holding it for long term then it would really be just that something that you wont really be caring at all since no matter what the price is then you would really be
always opting to holding even more longer. So its a personal choice i should say!

Inflation is a very bad situation on the economy that reduces the values of earning whereas you may sound Having more than enough but due to the hike of goods and services, it is likely that it is not what it is any longer.
But the thing is that as a retiree, you just need to cut your costs and focus on enjoying your home base with your accumulated funds. The above mentioned is even more than enough for some level of persons so then, if you projects yourself on the high places you are expected to early in other to meet up your standards.
Creating source of income while aiming at a retirement is very much essential because before your retirement you must have logically and mean fully set-up the amenities to profer you incomes and then at your retirement you don't need excuses of left out or only relying on your retirement funds.

Bitcoin hasn't been a mainstream so we cannot assume that if btc price goes up, the price of  basic necessities will also move up. It has not been legalized as a legal tender or currency by majority of the countries so we cannot say that it will create a huge effect on the society's economy. Prices these days have been soaring high because of pure inflation and nothing else.

However, we can't tell if in the future bitcoin will still not affect the prices of our commodities. Bitcoin is slowly recognized by financial institutions so most probably it might create a difference in the future.