Can Bitcoin ever reach $1M per coin?

[Heatman]

Personally, I do not rule out that this milestone could occur in the coming decades, but bitcoin would have to be considered as a reserve of value and would have to have captured the attention of all types of investors and institutions, there may be enough cycles left for that to happen, since the market capitalization needed for that to happen is too high.

Yeah, that's very correct. The kind of market capitalization needed for that to happen is where the biggest challenge of seeing Bitcoin get to $1 million per coin is anchored. The market capitalization of $21 trillion dollars is what we would be talking about. Also, there are some technology hurdles Bitcoin needs to overcome like the issues of scaling and also preventing any centralization of miners if we are to see this happening.

 

[Henrywrites]

Yeah, that's very correct. The kind of market capitalization needed for that to happen is where the biggest challenge of seeing Bitcoin get to $1 million per coin is anchored. The market capitalization of $21 trillion dollars is what we would be talking about. Also, there are some technology hurdles Bitcoin needs to overcome like the issues of scaling and also preventing any centralization of miners if we are to see this happening.

In summary, this is not happening any time soon. Most of the investors won't be keen to see it happen because it will mess up a lot of processes that has made the crypto market a unique market different from what we experience with the traditional banking sector.

 

[Heatman]

In summary, this is not happening any time soon. Most of the investors won't be keen to see it happen because it will mess up a lot of processes that has made the crypto market a unique market different from what we experience with the traditional banking sector.

Yeah, that's very correct. It's not something that's going to happen this year or even in the next 2 years by my calculations in what's on the ground. Over 70% of Bitcoin investment holders are looking forward to recovering part of what they have. It's basically everyone's priority now.

 

[Modar]

I think this is some kind of fairy tale and fiction. According to my calculations, Bitcoin will not rise above 60 thousand US dollars per 1 bitcoin! as you mentioned. There are other “ordinary” currencies in the world such as: Dollar, Euro, Pound sterling to which the world pays more attention, importance and monitors them

 

[Heatman]

Well, whatever that is happening with fiat currencies that most countries make use of which can be regarded as the powerful currencies don't even have much to do with Bitcoin or any other cryptocurrency. It's the economic policies that these countries are imposing on cryptocurrency is what's impacting on the price of Bitcoin and other coins.

 

[Nomad]

It just came to my mind, that if Bitcoin becomes $1 million per coin, other coins will also have higher value. The value of altcoins is highly correlated to the value of bitcoin. Perhaps the total market cap for crypto would be 100 trillion dollars.

 

[Heatman]

It just came to my mind, that if Bitcoin becomes $1 million per coin, other coins will also have higher value. The value of altcoins is highly correlated to the value of bitcoin. Perhaps the total market cap for crypto would be 100 trillion dollars.

Anything that is happening to bitcoin is always going to directly have an impact to any other cryptocurrency that we have out there.

So, in a situation where by the value of bitcoin appreciates, every other coin is always going to see appreciation in their value. I believe that this is something that anyone who already invested in any cryptocurrency is already praying for.

 

[Ja Sa Bong]

Yes, I know that is not possible to happen, it was just a hypothetical situation posed where if that happened, it would still have been very difficult for bitcoin to reach 1 million dollars per coin.

I don't want to start wallowing in this kind of hypothetical situation because it's not going to do me any good. I already know what I'm playing with and how Bitcoin behaves with its price movement. $1 million per Bitcoin doesn't seem likely in the next 20 years.

 

[Heatman]

I think this is some kind of fairy tale and fiction. According to my calculations, Bitcoin will not rise above 60 thousand US dollars per 1 bitcoin! as you mentioned. There are other “ordinary” currencies in the world such as: Dollar, Euro, Pound sterling to which the world pays more attention, importance and monitors them

This is actually something that I am also targeting as well when it comes to the price where I am expecting bitcoin to reach and the moment it gets back to the zone of its previous all-time high, I'm going to pull out most of my investment because I wouldn't like to stay there and experience another crash back down to 13000 dollars or even lesser.

 

[kirubel]

Bitcoin to my knowledge has only reached around $60,000 per bitcoin. But what if one day it were to reach $1M per coin? Would that even be possible? I think if that ever happens, I hope a lot of people are wealthy instead of a small amount.

Could it ever hit that price point? Or will we only ever reach to $100,000 or a bit more?

I hop t doesn't reach $1m because if it reach that like oil and gold only the rich peoples access it and the middle and lower economy society will never have access to it and i don't want to see that happens, right now i am using bitcoin because the price is good and affordable for me but imagen if it hits 1m, do you think it have many users like it have right know. everyone will sell their holding and there will e no going back.

 

[Heatman]

I hop t doesn't reach $1m because if it reach that like oil and gold only the rich peoples access it and the middle and lower economy society will never have access to it and i don't want to see that happens, right now i am using bitcoin because the price is good and affordable for me but imagen if it hits 1m, do you think it have many users like it have right know. everyone will sell their holding and there will e no going back.

I don't think that when Bitcoin reaches $1 million, it's only going to be the rich people that would have access to it. There are already so many people who's invested in cryptocurrency/Bitcoin, they will not lose their coins. The good thing about Bitcoin is that you can buy with as low as $5 upwards. Anyone can afford to buy Bitcoin at any price it gets.

 

[deucher]

I think that this is possible someday if the majority of the planet's population becomes richer, because even after all the coins are in circulation, the price can grow, but not indefinitely, because it just doesn't make sense in my opinion

 

[Riberet19]

If we count the depreciation of the dollar and how scarce Bitcoin is and the high demand that it is having and that is increasing, we may one day see Bitcoin at 1 million dollars, but my question is, how much will that million dollars can buy when Bitcoin comes to reach that figure? Think about it.

 

[FXOcrypto]

It's possible that could happen considering the price is always changing by demand and supply, the current price of Bitcoin has reached a new ATH at $69,170.63, in the long term perhaps the value of Bitcoin can reach $100k if this coin continues to be traded on exchanges and is supported by the ecosystem. One of the things that pushed Bitcoin included the approval of the Bitcoin ETF by the SEC last January.

 

[Riberet19]

In addition, if we add to all this the devaluation of fiat money, then we can see more possibilities of a Bitcoin at 1 million dollars, but in that case, that million dollars would not have the desired purchasing power.

 

[FXOcrypto]

It is very far from now for Bitcoin to reach 1 million USD per coin, considering that the current price has not yet reached $100k per coin. Bitcoin is now correcting at a low $68,563.0. with a price range Low $68,563.02 and High $73,750.07
Some investors believe Bitcoin could reach $100k. However, some are worried that Grayscale will sell Bitcoin which could impact BTC prices.

 

[Riberet19]

Now with the halving, we can expect price increases, although the opposite could happen, an interesting news is that yesterday there were people who spent millions of dollars to make a transaction in the first block after the halving, that is, in block 840,000, which is a real barbarity.