Topic: When do you think Bitcoin will hit $1 million for the first time? - page 5. (Read 674 times)

Hello Thecodebear, to reach a price of $1 million, it will probably take us quite a long time until the btc has really run out in the mines, becoming a scarcity that is strong enough for us to get so that the owners of btc have the desire to release it at the highest price if they want to sell it. I don't even know when it will happen, maybe it will be decades to come.

i have a dream for btc to reach $100k this year and that is most likely to be achieved if the market cycle goes well without any disturbances of fud or negative news hitting crypto. One more thing, I want to see a second country that will legalize btc as their currency after Elsavador recognized it legally.

I went with 2033.  I think it could possibly happen in 2029, but I think 2033 is probably a more realistic guess.  The last cycle was so manipulated by FTX, it's hard to see where we're headed as far as tops go.  Once 2025 is behind us and we see the next cycle's top, it will give us (hopefully) a more realistic valuation and ability to see forward again.  Right now it's hard to determine future tops when the last top was manipulated downward.  If we see over half a million per BTC in 2025, then I'll feel pretty good about seeing a million in 2029.  Otherwise, I think 2033 is the better bet.  We just have to wait 2 and 1/2 years to see what the expect in 2029.

Speculation for a price of $1 million may be reached someday but it may take several decades, it's hard to say it can be reached in the next 5-10 years, the most realistic prediction is likely to be $100k because based on the previous ATH price, I have often listened to predictions $1 million in the previous few months though without valid analytical details but the high predictions have motivated investors to hold diamonds for the long term.

So far, we know that bitcoin is a crypto asset that has the best performance compared to dozens of other assets out there. This is an undeniable fact although prices do fluctuate all the time.

But I don't know how real $1M is because we never know what the future of bitcoin will be. The most reasonable to expect is $100k, that's probably not expecting $1m any time soon. While I'm not saying it's impossible, the $1 million odds are extremely low. I would honestly choose longer time frame for $1M, meaning I can't be that optimistic in the short term.

I have chosen "NEVER"!

Even though im a huge fan or big supporter of Bitcoin but i dont see that it would really be hitting up a million per coin.Its impossible but considering on how still big space for possible progress or future movement
then it could be possible but im not really that longing for this price considering that it would really be not that simple to be achieved and considering on how much recognition and entire population
would be needing to be mainly supporting it.If ever the whole popular in real numbers on which we are just that 4% then there's still too much
space for us to move around.

My exact thinking. A couple years ago I had been expecting $1 million in 2029 but then the 2021 bull market was so small, only getting to barely over half the price I thought it would.

Granted there were several reasons for that small bull run - crash in the middle of the bull run made it take the rest of the bull market momentum to bring it back up, naive newcomers following market manipulator Musk into stupid meme coins like Dogecoin instead of Bitcoin, people absurdly dumping Bitcoin when Tesla stopped taking it for purchases along with China banning mining around the same time which these two things together caused that mid-year crash, and hype around ultimately pretty bad DeFi tokens and non-ETH L1 tokens leading lots of people astray from Bitcoin into bad alts.

But, every bull market there are going to be things pulling people away from Bitcoin into crappy get-rich-quick schemes in crypto or just hopium that some random token is gonna become the next big thing, so I don't think we can assume 2021 was just an off-year for Bitcoin bull runs and we should take that as the status quo going forward.

2021 was only 3.5x higher than 2017, and while it was unnaturally low, we should still expect a slowdown each cycle. So like 2025 might only be 3x (~$200k), 2029 might only be 2.5x ($500k), 2033 might only be 2x ($1 million), etc. Though I think it'll actually be a bit slower than that and take one more bull run to get there. Unless, like you say, something big happens where a major nation adopts Bitcoin in some significant way. I don't expect a major nation to adopt Bitcoin as legal tender like El Salvador, but if a major nation converted some of their gold holdings into Bitcoin to use as a national reserve, and put payment laws and tax laws in place to make it easy to use Bitcoin and just in general took on a very positive attitude of Bitcoin being part of the country's future...if that sort of thing happened in the US or the EU or in several economically mid-sized nations we could see Bitcoin pass $1 million closer to 2030 than 2040.

It's hard to say how much bitcoin reached 1 million dollars because it certainly takes a few cycles and it's not sure what the voter will vote for, I know it's for fun but I'm voting in 2042 and that's my estimate but not with good analysis given because it is still too far.

Currently the bitcoin price is still trying to return to the new ATH where 100k is the next target, but we have to realize that it won't happen automatically in 2024. ATH will need a process where bullrun will come again and this will usually be sustained with the rally that will come later.

Imagine touching 100k maybe a lot of people will sell, but how can they survive for decades?
For strong hands.

With the current conditions, actually no one can really be sure about speculation like this because even in this case speculation must still be based on concrete facts.
On the other hand the current price means that btc needs a few times the jump for that price and I'm still not really sure to say a year but for sure it's going to be a very long time.
Instead of being like that, I think we can still focus on the condition of their closest target at a price of $ 100k, which has been talked about a lot since the end of 2022.

I used to think this would happen by 2030, so in another 2 bull markets roughly, but now I think sometime between 2030-2040 based on the reduced % increases per bull market. I'm not disappointed though as I prefer the market to become more stable and less volatile (as is currently the case) and in hindsight it seems inevitable that these retail-drive blow off tops weren't going to last forever.

My exception to believe it'll take another 7-17 years to reach $1 million would be if a major fiat currency opted into Bitcoin, such as USD/GBP/EUR/CNY, which I also think is very unlikely right now. Other countries in Africa, South America or Asia opting Bitcoin as a reverse currency won't change much but is otherwise the expected outcome (especially from countries dependant on the dollar or with high inflation).

You're saying $100k - $250k long term?? It should be in that range in just two years on the next bull run, and the following bull market at the end of the decade should definitely be above the top of your range. We're not talking about the next few years, we are talking about anytime in the future.

Yes, honestly, of course it is possible. In fact I'd say it is just about impossible that Bitcoin WON'T hit $1 million. The only way Bitcoin doesn't pass $1 million is if it literally fails. Maybe you don't understand how much something can grow over many years. For example, $28k to $1.1 million is just 11 years of 40% annual growth. $28k to $5 million is just 20 years of 30% annual growth. These sort of growth numbers are very realistic for Bitcoin. Growth will obviously slow down over time but 30-40% is much lower than the current rate of growth. I mean heck Bitcoin price has appreciated 70% in just the past 3 months.

And its not like $1 million is the top. It'll continue going up from there. Granted, part of the gains against USD will be inflation of the dollar over many years, but in the next few decades I'd expect to see bitcoin at $2 million, $3 million, $4 million, etc. It might take until like 2050 for it to hit $5 million, and by then because of inflation the dollar may only be worth like 40% of its current value so $5 million in 2050 might be $2 million in today's dollars, but that's still double the question I posed in this thread and I didn't even specify accounting for inflation in the question. So yes $1 million I would say is not only possible but is inevitable. I expect the price to eventually be in the tens of millions of dollars, and even when priced in today's dollars it should go to several million dollars.

In the long term $1 million is nothing, $1 million is just the start. Just think, someone who is born today, by the time they are like 30 and have money to invest, will be thinking about how they wish they could have been able to buy Bitcoin at under $1 million the way people today wish they could have bought at like under $5000.

I also think that with a bull run in 2036/2037, the price of 1$ million USD could perhaps be reached. Maybe even in 2032/2033, who knows. But certainly not sooner and whether we will really experience a price of 1$ million USD remains questionable one way or the other. If the bitcoin price continues to develop as it has in recent years, I can well imagine that we will reach this price at some point.

But before that happens, the price has to break the $100,000 USD mark and until that happens, we shouldn't worry about $1 million.

Yes, this survey is certainly just for fun, but actually it is much too early. Who can say today what will be in 5 or 10 years? Maybe nobody will be interested in bitcoin anymore because a new payment system with the same or even better framework conditions has replaced bitcoin. I hope/believe that won't happen, but who knows what will happen. 

The soonest.
 
We all want to witness it as soon as possible. And that's what I wanted to see. Maybe after 2 halvings, there will be an astronomical gain which is not a surprising moment for bitcoin anymore. We get to see how it moves all of a sudden during a bull run and like last 2021.

It has multiplied nearly 4 times from the time it has got an ATH on 2017. So, having that pattern, if it will just gonna be around 4x or 3x on 2025 as the next possible ATH cycle, then from $69k * 3 that will be equals to $207,000(3) ~ $276,000(4).

And then for the 2nd halving maybe on 2028 or 2029 that could be $276,000 * 4 equals to $1M+. But I know as the cycle goes on, it's possible that it will be lesser than the multiplied times in the past.

I know that quite a few people have claimed that Bitcoin is capable of surpassing $1 million in value, but honestly, does anyone here believe that it's actually possible? Personally, I believe that in the best-case scenario, Bitcoin will be worth somewhere between $100,000 and $250,000, and this opinion is also quite optimistic. I don't know if it's just me, but even this sounds too exaggerated. Judging by the latest ATH of almost $70,000, it's highly probable that $100,000 will be reached sooner or later, but there's practically a limit on how high the price can go.

Wake up mate, I think am in my dreams and  about to get caught in it...Ouch
Stop living in a fake world. I don't think is will be possible in the bitcoin history for us to witness this price. That is a huge amount and we shouldn't start thinking of such price,bitcoin price cannot be predicted and the world will still face some challenges in the economy as time goes which can affect the price of bitcoin negatively or some government anti-bitcoin policies. I have never thought of this price because I see as mission impossible, from my own perspective I will say let look at the price at hundreds of thousand.  On the other hand nothing is impossible for a volatile asset like bitcoin, it can hit  $1M when we have limited bitcoin in circulation in the next 10-15 yrs.

Everything depends on us, “The Traders”. If we demand for more Bitcoins then definitely the price will go high than expected, and if the demand is less, then again the price will not increase rapidly. The demand plays the important role here, as Bitcoins are limited in number, and we also know, when the supply is less and demand is high, the price of the commodity increases, so similar thing can happen, if we keep the demand increasing. Once Bitcoin reaches 100k usd, it won’t take it long to reach 1 million dollars. Moreover we can also see that Bitcoins are following a 4 year pattern for bull run, so anything can happen at anytime.

If it's just for fun, I'm considering choosing between 2030-2037, as the current price is still way below $100k and it's taking time to reach $100k.
After $100k, it might hold on to $250k or $300k and then go up to $500k-$600k and that too takes time.
So 14 years later is probably as long as it takes for bitcoin to reach $1 million but it's probably even faster.
People who can own more than 10 BTC will surely become multi millionaires if the price can reach $1 million and hopefully, we will be included in the list of those people.

We can only guess and nothing more than that, but I personally don't think it can happen in this decade. Of course, I take into account everything that has happened so far and some possible scenarios that could happen in the following years. Given that we live in a world that is changing drastically, all options are possible, but for the price of BTC to reach $1 million, some very positive things should happen that are not too likely to happen.

By this I mean the possibility that some serious central banks start buying Bitcoin, and that some big companies join them, which would cause a great demand, and we know that this would launch the price into the sky. Whether and when the central bank will make such a move is impossible to predict at the moment, but it is enough for one to move in that direction and the others will follow.

I am of the opinion that some things will be much clearer in about ten years when 99% of all BTC will be mined, and that halvings after that (maybe even before) will not have the same impact as today. Of course, all this is assuming that people are not destroyed by the third world war or that we are not conquered by artificial intelligence.

We can all see bitcoin returns getting smaller and smaller. I mean, once bitcoin gets bigger, the returns will dwindle over time. We will no longer see increases of a few thousand percent, but only 2 or 3 times increases. So the fact that bitcoin can reach 1 million dollars is too far away, I don't want to think about it. The main thing that I am expecting more of is the ATH for the next bull run, which I predict will fall between $120k and $150k for this next bull run.

Creating such topics will not provide anything. Indeed, it is most likely that we will witness these prices after more than 10 years, but with the events and variables that occur globally, it is difficult to predict what will happen within 10 years (who would have predicted in 2013 that a war would occur in Ukraine and a global pandemic and that oil would be zero in futures contracts is less than zero)

Therefore, the hypothesis that we will get a price 10 years ago is excluded, and the hypothesis of predicting what will happen after 10 years is excluded.

There is an additional problem is that inflation will make the million dollars an amount that the average person can easily obtain, which is another dilemma in the feasibility of that prediction.

I vote the earliest time cause everyone wants to have a million dollars anytime soon. But the odds of that will probably still falls to a very long time period. But imagine how it will happened if the money needed for that is like 10x or more of its current market cap. I doubt that people across the globe are ready for that to pour in a lot of money into a volatile asset like bitcoin.