Topic: Will BTC hit 1M ? - page 6. (Read 1768 times)
I am not more than convinced that Bitcoin will reach $1M in the future. The increased involvement of big capital who are not just coming for quick profits but have the willingness to HODL is something positive I believe can push price towards the $1M target. The next phase of capital injection into Bitcoin will likely be from governments of the world, I see a situation where countries will invest in Bitcoin for national reserves just like El Salvador did. The Arab world might take this lead. There was rumor of Saudi Arabia planning an investment in Bitcoin, even though this is not true, there is a saying that "there is no smoke without fire".
Bitcoin rose from under $1 to $69k without any approval or legal tender from the government. So on what basis do you think that whether bitcoin reaches 1 million USD or not depends on the government? Governments are indeed the biggest barrier slowing the spread of bitcoin, but they are not the main factor or catalyst that helps bitcoin value increase. Bitcoin once rose to $69k from zero without the government, it will be able to do it again to reach $1 million without government help. If bitcoin receives support from the government, it will help bitcoin reach $1 million faster, but if not, bitcoin reaching $1 million will still happen over time.
Bitcoin reaching one million per coin will happen at some point on the future, what we do not really know is when it will happen and the circumstances surround it at the time.Besides while reaching such a milestone will be important, just as reaching five figures was during the 2017 bull run, at the same we must not content ourselves with bitcoin just reaching the price level, as I think it is way more important for bitcoin to remain above that level, and that will take longer than just reaching it.
If demand for bitcoin increases steadily, it is only a matter of time before it reaches $1 million, and it is normal for it to remain above $1 million or higher as long as demand for it remains . But what I want to say here is that I disagree when he says that whether bitcoin reaches 1 million USD or not depends on the government . That's not entirely true, the value of bitcoin will depend on our demand and the government cannot stop the demand for bitcoin. If they could stop bitcoin, they would have done it a long time ago, not wait until now .
These things on what it makes could possibly be able to hit up those numbers but it would be always better that you shouldnt really be making yourself that too optimistic
so that you wont really be ending up on getting disappointed because this is where people do really think up. Be realistic at least.
If you do believe that it could reach out into those numbers then it would really be that best that you should be accumulating as much as you could.
It all matters on the actions that you would really be taking. Each one of us does have that diferent ideas in mind or approach on things.
I predict and believe that bitcoin can reach 1 million USD in the future but that doesn't mean I will accumulate and hold it until I reach that goal. Our lives have more important things to pay attention to, and investing is just one part of our lives. So I will sell my bitcoins at the right time to serve my life and will buy back when the opportunity arises.
Additionally , what I care about when it comes to financial markets is volatility, not the highest price it can reach. For me, as long as bitcoin's volatility persists, I always have a chance to profit.
1. Increase recognition/adoption
I dont think this is going to work. El Salvador is an example it wont work. When they announced that bitcoin is a legal payment in their country, the whole world talked about it, but it does not affect bitcoin price at all. The price even later went down, leaving El Salvador government with bitcoins purchased for expensive price. Moreover, after distribution of «free $30 in BTC» to locals, many have withdrawn it instantly and continued to use US dollar.
Bitcoin rose from under $1 to $69k without any approval or legal tender from the government. So on what basis do you think that whether bitcoin reaches 1 million USD or not depends on the government? Governments are indeed the biggest barrier slowing the spread of bitcoin, but they are not the main factor or catalyst that helps bitcoin value increase. Bitcoin once rose to $69k from zero without the government, it will be able to do it again to reach $1 million without government help. If bitcoin receives support from the government, it will help bitcoin reach $1 million faster, but if not, bitcoin reaching $1 million will still happen over time.
Bitcoin reaching one million per coin will happen at some point on the future, what we do not really know is when it will happen and the circumstances surround it at the time.Besides while reaching such a milestone will be important, just as reaching five figures was during the 2017 bull run, at the same we must not content ourselves with bitcoin just reaching the price level, as I think it is way more important for bitcoin to remain above that level, and that will take longer than just reaching it.
If demand for bitcoin increases steadily, it is only a matter of time before it reaches $1 million, and it is normal for it to remain above $1 million or higher as long as demand for it remains . But what I want to say here is that I disagree when he says that whether bitcoin reaches 1 million USD or not depends on the government . That's not entirely true, the value of bitcoin will depend on our demand and the government cannot stop the demand for bitcoin. If they could stop bitcoin, they would have done it a long time ago, not wait until now .
1. Increase recognition/adoption
2. Decrease supply circulation (via halving)
3. ETF in full scale mode
4. Global adoption
These things on what it makes could possibly be able to hit up those numbers but it would be always better that you shouldnt really be making yourself that too optimistic
so that you wont really be ending up on getting disappointed because this is where people do really think up. Be realistic at least.
If you do believe that it could reach out into those numbers then it would really be that best that you should be accumulating as much as you could.
It all matters on the actions that you would really be taking. Each one of us does have that diferent ideas in mind or approach on things.
There is two quotes that have got stuck in my head when we talk about speculating very high prices per BTC. I dont even know if this is correct or not but from the perspective of BTC there is an value range based on the cost the mine 1 btc we can try to extrapolate the speculation range for the price of 1 btc.
Taking these viewpoints together, one way (and not the only way) of looking at 1MM/btc implies that the mining cost would either have to be at 1MM/btc on the low end or on the high end. I think thats very far away though, maybe another 10-15 years, few more halvings need to happen as the driver(from this perspective) to push mining costs to where 1MM/btc is attainable.
The first quote here, from Hal Finney talks about a potential correlation between cost to mining and price.
The second quote is from Franky1, about ranges and speculated price ranges.
Taking these viewpoints together, one way (and not the only way) of looking at 1MM/btc implies that the mining cost would either have to be at 1MM/btc on the low end or on the high end. I think thats very far away though, maybe another 10-15 years, few more halvings need to happen as the driver(from this perspective) to push mining costs to where 1MM/btc is attainable.
The first quote here, from Hal Finney talks about a potential correlation between cost to mining and price.
One reason price might follow difficulty is that mining should not be too profitable (because nothing should be too profitable, the world doesn't leave free money lying around). Therefore the price of Bitcoins can't rise too much above the cost of mining (counting equipment depreciation among the costs of course). The cost of mining is proportional to the difficulty (approximately). Therefore we might expect to see price proportional to difficulty.
We do see a nearly proportional relationship in the 1st graph, but that data set was incomplete. I'd like to see that last graph redone with a linear difficulty scale so we could see how the proportionality holds up with more data.
We do see a nearly proportional relationship in the 1st graph, but that data set was incomplete. I'd like to see that last graph redone with a linear difficulty scale so we could see how the proportionality holds up with more data.
The second quote is from Franky1, about ranges and speculated price ranges.
imagine it this way
imagine the most expensive location to mine bitcoin on the planet being japan and hawaii where by in 2021 the mining cost max of the planet was $75k
imagine the most efficient location to mine bitcoin on the planet being asia and slovic areas where by in 2021 the mining cost min of the planet was $15k
now imagine speculation psychology...
if no one on the planet can mine for less than $15k then no one wants to sell for less and everyone would turn to buying at that low.. this creates a support wall to stop it going down below $15k
if everyone on the planet can mine for less than $75k then no one wants to buy for more than $75k everyone would turn to mining and selling at that high.. this creates a resistance wall to stop it going up
well now in 2023 the support of the planet is about $22k and the resistance is at $150k
and the market ALWAYS speculates between the periods support/resistance of the economy
..
the resistance and support does rise at a slower pace and the market speculates randomly within the moving limits
as long as the mining cost/competition continues we will not see a zero bottom again
imagine the most expensive location to mine bitcoin on the planet being japan and hawaii where by in 2021 the mining cost max of the planet was $75k
imagine the most efficient location to mine bitcoin on the planet being asia and slovic areas where by in 2021 the mining cost min of the planet was $15k
now imagine speculation psychology...
if no one on the planet can mine for less than $15k then no one wants to sell for less and everyone would turn to buying at that low.. this creates a support wall to stop it going down below $15k
if everyone on the planet can mine for less than $75k then no one wants to buy for more than $75k everyone would turn to mining and selling at that high.. this creates a resistance wall to stop it going up
well now in 2023 the support of the planet is about $22k and the resistance is at $150k
and the market ALWAYS speculates between the periods support/resistance of the economy
..
the resistance and support does rise at a slower pace and the market speculates randomly within the moving limits
as long as the mining cost/competition continues we will not see a zero bottom again
A Bitcoin price of $1 million is possible after the halving in 2032, and is likely to rise further. Because of the four-year halving, Bitcoin's price has the most momentum. The more you cross the halving, the more the price of Bitcoin will increase and the block will decrease. Notice the halvings since 2012. We have gone through a total of three halvings so far, and the price of Bitcoin ended at $69,000 at the last halving in 2021, when the bull run started in 2021. If the price of Bitcoin is 150k dollars this year, then I think it is possible for Bitcoin to be a million dollars before 2032.
That is a long time away but it might happen in the future and we never know how long it will continue to HODL bitcoin by going through many cycles where it is the biggest momentum for people to take advantage, but only strong hands can afford it.Bitcoin - Nothing is impossible when it comes to price speculation, some experts involved in bitcoin have said bitcoin will reach millions of dollars given the limited supply and high demand and miners are increasingly reduced that I know, but we should never leave bitcoin even though we have sold it at ATH but there is a time when there is a bearish phase to enter again.
A Bitcoin price of $1 million is possible after the halving in 2032, and is likely to rise further. Because of the four-year halving, Bitcoin's price has the most momentum. The more you cross the halving, the more the price of Bitcoin will increase and the block will decrease. Notice the halvings since 2012. We have gone through a total of three halvings so far, and the price of Bitcoin ended at $69,000 at the last halving in 2021, when the bull run started in 2021. If the price of Bitcoin is 150k dollars this year, then I think it is possible for Bitcoin to be a million dollars before 2032.
Bitcoin rose from under $1 to $69k without any approval or legal tender from the government. So on what basis do you think that whether bitcoin reaches 1 million USD or not depends on the government? Governments are indeed the biggest barrier slowing the spread of bitcoin, but they are not the main factor or catalyst that helps bitcoin value increase. Bitcoin once rose to $69k from zero without the government, it will be able to do it again to reach $1 million without government help. If bitcoin receives support from the government, it will help bitcoin reach $1 million faster, but if not, bitcoin reaching $1 million will still happen over time.
Bitcoin reaching one million per coin will happen at some point on the future, what we do not really know is when it will happen and the circumstances surround it at the time.Besides while reaching such a milestone will be important, just as reaching five figures was during the 2017 bull run, at the same we must not content ourselves with bitcoin just reaching the price level, as I think it is way more important for bitcoin to remain above that level, and that will take longer than just reaching it.
If demand for bitcoin increases steadily, it is only a matter of time before it reaches $1 million, and it is normal for it to remain above $1 million or higher as long as demand for it remains . But what I want to say here is that I disagree when he says that whether bitcoin reaches 1 million USD or not depends on the government . That's not entirely true, the value of bitcoin will depend on our demand and the government cannot stop the demand for bitcoin. If they could stop bitcoin, they would have done it a long time ago, not wait until now .
If it continued to gain at the current rate then BTC price would be 1 mil by Xmas but thats not its normal nature, moving in just one direction upwards would be ironically too volatile to sustain. A collapse or very harsh reset is quite likely if that occurred.
Current rate of gains is about 4333 dollars per day. That brings us to $100000 in just 8 days or so.
After that if gains continued the same rate it would be another 100k gain every 23 days or so.
So 200 days or about 7 months later the Autumn of 2024 we'd be at million dollars to answer the OP. You have a scenario taking only the best most brightest outlook of present gains continuing, its possible but not likely. Extrapolating the 200 day moving average or even 200 week is probably more sensible to estimate on but they start off lower at 37k and 32k respectively.
Current rate of gains is about 4333 dollars per day. That brings us to $100000 in just 8 days or so.
After that if gains continued the same rate it would be another 100k gain every 23 days or so.
So 200 days or about 7 months later the Autumn of 2024 we'd be at million dollars to answer the OP. You have a scenario taking only the best most brightest outlook of present gains continuing, its possible but not likely. Extrapolating the 200 day moving average or even 200 week is probably more sensible to estimate on but they start off lower at 37k and 32k respectively.
Not just about the demand but also depends on the government regulation and I think it will be hard for Bitcoin to reach that level if the government still not accepting it as a legal tender. Well, I’m also positive about the Bitcoin price and I think it can happen in 10 years or more as we are still dealing with so many challenges today, but soon if there’s a limited supply already with Bitcoin, that $1M ceiling price can surely be hit.
I think it's still too far away for many people to enjoy because Bitcoin is still at $63K and has risen to $64K today. So, instead of thinking about prices that are too far away, it's better for you to first enjoy the increase in Bitcoin prices which is still occurring at the end of this month with quite extraordinary achievements in February. Because everyone doesn't need to think about government approval for payments via Bitcoin if the price of Bitcoin itself can still increase without any government intervention for now.Indeed mate that it will be harder fpr bitcoin in increase its value in short time because Government is the main ingredients here for this great currency reaches 7 figures but before that lets look for 6 digits first in which soon to happen at least next year if not happens now.
I think that 6 digits could happen next year if Bitcoin's price increase continues like what happened this month. Have you also not enjoyed the increase in Bitcoin prices so far or do you not know what to say after seeing market conditions that continue to improve like now? Because now Bitcoin is starting to make extraordinary levels in its price range so that things that were previously thought impossible have become possible now thanks to the price increase which is truly extraordinary in my opinion. Look how prices changed during its past, and take a look on how huge is gap between current price and 1 million milestone. Imagine how much it has to gain, and how much time it will take to get from $59k to $1000k. And with time, it will become harder and harder to get gain in price.
Many people also believe that Bitcoin won't be trading at the current price before the halving but Bitcoin has passed that price and now targeting $65,000. Bitcoin price prediction shouldn't be limited, we should be realistic in our prediction but don't think that Bitcoin can't get to any price that it wants to. The more adoption increases and the popularity of Bitcoin also increase more institutional Investors will be coming into the market as they're the ones that brings in alot of money into Bitcoin that affects the price. $1M is unrealistic of you're predicting that price for the bull market that's coming ahead or for the next bull market but if you're asking if Bitcoin can trade at that price in the future, my answer is yes because Bitcoin has reached many other milestones price that many individuals didn't believe it'll be trading pass those prices someday.
Bitcoin has passed the path of being cost cent to $69k and it took him 10 years. $100k is already a huge milestone for a currency, and it will need time to reach that. Moreover, we havent passed ATH yet. And people already ask about $1m. Imho it is going to be a long journey to that price. Bitcoin aint no meme-coin to multiply price in short periods. I looks like it might take 10 years (number out of nowhere) to reach $1m, and that is why I see no point of discussing it today. We have plenty of time to do that when we would at least half way to there.
The most important thing is that you should always understand the meaning of the long term. Bitcoin investment is because you are saying the future currency, you can call it future digital currency that likely take out the use of physical cash.
The little bitcoin you keep in your wallet may result to huge amounts tomorrow, which is future so therefore it is advice to get at least some few dollars of bitcoin in your wallet, nobody knows how far the price we hit tomorrow, but we all know that Bitcoin can get to any amount at any time because of the females, and the popularity of how Bitcoin is dominating the nation so it’s can come in a great way that no one that would have think of.
Advice. Everyone that have a home or children should also get some level of bitcoin at least put some dollars in each of their wallet and keep it even if you did not let them know just keep it in the nearest future it’s definitely worth something more bigger than you think.
The little bitcoin you keep in your wallet may result to huge amounts tomorrow, which is future so therefore it is advice to get at least some few dollars of bitcoin in your wallet, nobody knows how far the price we hit tomorrow, but we all know that Bitcoin can get to any amount at any time because of the females, and the popularity of how Bitcoin is dominating the nation so it’s can come in a great way that no one that would have think of.
Advice. Everyone that have a home or children should also get some level of bitcoin at least put some dollars in each of their wallet and keep it even if you did not let them know just keep it in the nearest future it’s definitely worth something more bigger than you think.
Look how prices changed during its past, and take a look on how huge is gap between current price and 1 million milestone. Imagine how much it has to gain, and how much time it will take to get from $59k to $1000k. And with time, it will become harder and harder to get gain in price.
Many people also believe that Bitcoin won't be trading at the current price before the halving but Bitcoin has passed that price and now targeting $65,000. Bitcoin price prediction shouldn't be limited, we should be realistic in our prediction but don't think that Bitcoin can't get to any price that it wants to. The more adoption increases and the popularity of Bitcoin also increase more institutional Investors will be coming into the market as they're the ones that brings in alot of money into Bitcoin that affects the price. $1M is unrealistic of you're predicting that price for the bull market that's coming ahead or for the next bull market but if you're asking if Bitcoin can trade at that price in the future, my answer is yes because Bitcoin has reached many other milestones price that many individuals didn't believe it'll be trading pass those prices someday.
We are talking about money here, so yeah it is a million dollar. Maybe for now we can say it's impossible because their gap is too wide but if ever BTC reaches more heights then the beliefs of the people are also going to be stronger. It was only the same on the past where people also doubt BTC will reach 1 USD, 10 USD, and so on... but look where it is now?
I think you are comparing it incorrectly when saying that Bitcoin has reached $1>$10> and so on. When it cost $1, it was quite unknown for people. Mostly enthusiasts knew about Bitcoin. Circulation was many times smaller than it is now. And it is always easier to make price increase when the price is low and not many coins were in circulation. Look on a situation now.
Simple chart. I have taken Bitcoin prices on Dec 31 during its whole period.
Look how prices changed during its past, and take a look on how huge is gap between current price and 1 million milestone. Imagine how much it has to gain, and how much time it will take to get from $59k to $1000k. And with time, it will become harder and harder to get gain in price.
Bitcoin rose from under $1 to $69k without any approval or legal tender from the government. So on what basis do you think that whether bitcoin reaches 1 million USD or not depends on the government? Governments are indeed the biggest barrier slowing the spread of bitcoin, but they are not the main factor or catalyst that helps bitcoin value increase. Bitcoin once rose to $69k from zero without the government, it will be able to do it again to reach $1 million without government help. If bitcoin receives support from the government, it will help bitcoin reach $1 million faster, but if not, bitcoin reaching $1 million will still happen over time.
Bitcoin reaching one million per coin will happen at some point on the future, what we do not really know is when it will happen and the circumstances surround it at the time.Besides while reaching such a milestone will be important, just as reaching five figures was during the 2017 bull run, at the same we must not content ourselves with bitcoin just reaching the price level, as I think it is way more important for bitcoin to remain above that level, and that will take longer than just reaching it.
what is 1 M, 1 million dollar.
i think imposible even if bitcoin it reaches that price 1 million dollars , people will no longer use bitcoin. why is the sending fee so expensive and not competitive even compared to fiat money?
We are talking about money here, so yeah it is a million dollar. Maybe for now we can say it's impossible because their gap is too wide but if ever BTC reaches more heights then the beliefs of the people are also going to be stronger. It was only the same on the past where people also doubt BTC will reach 1 USD, 10 USD, and so on... but look where it is now?i think imposible even if bitcoin it reaches that price 1 million dollars , people will no longer use bitcoin. why is the sending fee so expensive and not competitive even compared to fiat money?
And actually the high price can mean that many people are using the coin. Don't worry because I don't think the transaction fees are going to be really expensive. Have you checked the fees lately? I think it's going back to its normal rate again despite of the recent surge in price, and if let say it will increase, it won't still stop the people from using it.
It will definitely hit 1M, but yes we just don’t know when. It can happen in 1 year or 10 years also. Everything depends on the demand raised by the people to accumulate the coin. Few years back no one thought Bitcoins will cross 1000$, but currently Bitcoins have become the most valuable digital asset. So we just need to keep calm and show faith in the coin. Just accumulate and hold it for few years. Definitely you will see the profits.
Not just about the demand but also depends on the government regulation and I think it will be hard for Bitcoin to reach that level if the government still not accepting it as a legal tender. Well, I’m also positive about the Bitcoin price and I think it can happen in 10 years or more as we are still dealing with so many challenges today, but soon if there’s a limited supply already with Bitcoin, that $1M ceiling price can surely be hit. 
It will definitely hit 1M, but yes we just don’t know when. It can happen in 1 year or 10 years also. Everything depends on the demand raised by the people to accumulate the coin. Few years back no one thought Bitcoins will cross 1000$, but currently Bitcoins have become the most valuable digital asset. So we just need to keep calm and show faith in the coin. Just accumulate and hold it for few years. Definitely you will see the profits.
Not just about the demand but also depends on the government regulation and I think it will be hard for Bitcoin to reach that level if the government still not accepting it as a legal tender. Well, I’m also positive about the Bitcoin price and I think it can happen in 10 years or more as we are still dealing with so many challenges today, but soon if there’s a limited supply already with Bitcoin, that $1M ceiling price can surely be hit. 
Most of people want microwave results and most of them are not patient
It is Clear that bitcoin will be the only Currency for payments
Like there will be no Cash or VISA
It is Clear that bitcoin will be the only Currency for payments
Like there will be no Cash or VISA
As much as I would like to see that to happen, I am afraid that is just a wishful thinking. Bitcoin can be rejected by the government easily , like in my country, the government are very positive about Bitcoin since 2017 but the recent statement of the BSP (country's central bank) they leaning forward to create CBDC than adopting BTC.[1]
Many people limit their profit by not taking the right actions but trust me every penny worth
Even if u have low budget to invest for your kids do it , and save it for more than 15-20 years
e.g if u put today 100$ on BTC to save for ur Kids future , when they are 20 years that 100$ will go up and down in hours as bitcoin will hit High price
Dont be blind open your eyes
Even if u have low budget to invest for your kids do it , and save it for more than 15-20 years
e.g if u put today 100$ on BTC to save for ur Kids future , when they are 20 years that 100$ will go up and down in hours as bitcoin will hit High price
Dont be blind open your eyes
That is good if Bitcoin keeps on surging but what if it became stagnant? We shouldn't put our hopes to high in a high volatile market. Just act accordingly as time unveils the path of Bitcoin Industry.
[1] https://cointelegraph.com/news/philippines-introduce-non-blockchain-cbdc-two-years
~Snip
Not just about the demand but also depends on the government regulation and I think it will be hard for Bitcoin to reach that level if the government still not accepting it as a legal tender. Well, I’m also positive about the Bitcoin price and I think it can happen in 10 years or more as we are still dealing with so many challenges today, but soon if there’s a limited supply already with Bitcoin, that $1M ceiling price can surely be hit.Bitcoin probably won't hit $1m, that's too high to be true. But nothing is impossible in this world although I am not sure bitcoin will be worth $1m in the next 10 to 20 years. The most realistic price to look forward to right now is $100k, 10x lower than $1m.
Jump to: