BTC hitting $1M 12% already there

Been wanting to start this thread for a bit and finally pulled the trigger. It's pretty clear now that it's not about if Bitcoin hits $1M but rather when it’s gonna happen. The first notable mention I remember was from someone who said if BTC didn’t hit $1M by the end of 2020, he’d eat his own junk on live TV. We all know how that turned out. For those of you who’ve been around here longer, can you recall anyone else bringing up this possibility before McAfee? If you do, let me know and I can add it here. Anyway, after a pretty underwhelming cycle from 2020 to 2024 in terms of returns and all that hype about institutional adoption that didn’t really deliver, it seems like things are different now. Michael Saylor is buying up bitcoins like there’s no tomorrow for MSTR, and the new president is talking about creating a Bitcoin reserve with existing holdings. Plus, Cynthia Lummis has a proposal to boost that reserve by acquiring up to a million in Bitcoin over the next five years, and there are 269 lawmakers in the US who are all about crypto. Not to mention, the new cabinet picks are mostly pro-Bitcoin and openly admit to holding BTC. All this is bound to create, and is already creating, some serious institutional FOMO, which could lead to a supply shock. This kind of hype has caught the attention of big names like Adam Back, the guy behind Hashcash.

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.

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. 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.

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!

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!

It's $100k first for Plan B in 2021, but it didn't happened that's why he has been trolled and exposed how flaw his modeling that time. And it's true, we didn't get into that 6 digits in November 2021, when everyone is waiting for that price to be breach. But still you can't deny it today and if it predicted $1 million, then it's just a matter of time before we will see that price. It could take several halving though and making Bitcoin one of the most scarce assets or commodities known to man to push the price to $1 million a pop.

$1 Million dollars will be a real possibility, perhaps not in this cycle, but indeed in the next 10 years.

i believe also even though it still too far but for sure time will come to hit that $1m.  See where Bitcoin  now after all the correction and bad news since from the start . It didn't fail to achieve our expectations and prediction right? So no more doubts that bitcoin is the king after all the achievements and let's expect soon that we will see more ATH, and probably even that $1m is not enough for Bitcoin when every year it goes to the moon!.

I believe by the end of 2033 Bitcoin will have surpassed $1M. In fact I'll even take bets from people that disagree. But only up to 0.001 since it's such a long term contract and it will be a lot of money in 2033 dollars  .

It's very likely that BTC will reach $1M with its deflationary nature and capped total supply, big adoption is what it needs to get it there. to be honest, I think bitcoin gonna start taking off where most of BTC are going to the wallet of the big buyer and becomes dormant leaving very few supply on the market available and at that time the price of BTC gonna shoot up so high because scarcity. if bitcoin strategic reserve is really happening I can see such thing to also happen.

Bitcoin has the potential to reach $1 million but I doubt that will happen in this cycle, even if something makes it more attractive and even governments start investing in it. Bitcoin's 10x price increase seems simple if we look at its history but we should also consider its market capitalization. That means we need trillions and specifically $19 trillion to help bitcoin reach $1 million, not just 10 billion or 100 billion like before to help bitcoin increase by thousands of percent. That is also why we can easily see that bitcoin is becoming less volatile and no longer brings as big profits as before. I think it will take at least a few more bull cycles for Bitcoin to hit 1 million, IMO.

More likely in 2 more cycles so around 8 years more but that would be a safe assumption if it will be in 10 years. Having even 1 BTC in accumulation for that long will be good enough for retirement but I wonder how much inflation would that be at that time. But still, the expected price selling point is going to be greater as the year passes by for most of the holders especially those that have been holding for many years. It's likely that will be the scenario. Companies and institutions like MicroStrategy are the ones that will own most of the BTCs that will be sold by many hodlers by that time. While them, they're going to be the giant and oligarchs by that time having some impact with the lesser supply in the economy.

Yes. I doubt it too, but it's worth saying that people often underestimate Bitcoin's growth potential. Just a few months ago, many people doubted that BTC could double in price and reach 100k by the end of the year. And yet, here we are. Also, I don't think your numbers check out.  You're going by Bitcoin's total possible supply, but that dosn't work because not all coins are really out there on the market.  Total market cap doesn't take into account the real market supply, which is actually much lower.

Although McAfee's statements were quite loud and unrealistic at that time, he still inspired the community to believe in the bright price future of bitcoin. It's a pity that he couldn't catch our time when bitcoin reached the $100k. mark. Not to mention $100M. $1M. for 1 BTC is inevitable, but unlikely during this cycle. After all, it will take some time for the world to accept (and invest in) it. We should not forget about the problems in the global economy, in other words, the world needs extra money to push the price of bitcoin to a 7-digit figure. I hope that the economic crisis (which has not yet been "canceled") doesn't push back the date of reaching $10M. for bitcoin. I know that one day the world will see 1 BTC=$ 1M., but when exactly doesn't matter to me. We still can't influence the course of these events in any way. It will happen when it happens.

Looking at the possibility of this happening in 10 years, yes there is definitely all possibility of it happening, bitcoin achieved its first $1k price after the 2012 bull run and then had a pump of 10x to $10k in the next bull run which is after the 2016 halving and then the next 10x from there took an extra two more halving (2020 and 2024), which means the volatility has been reduce needing at least 10 more years to get a 10x which is the current $100k we are touching soon. So going with this same trend then i will safely say we might need like three more halvings to get another 10x and that will be like in 12 years, precisely around 2036 halving. That will be like 2x the ATH after each halving period. This can be be achieved even before then but it is more realistic like this due to the decrease in its volatility

Considering the growth after each halving cycle, I can say that I am optimistic about the price of Bitcoin at $1 million. Many Bitcoin maximalists say this. I guess McAfee's prediction was not even realistic at that time, now they are talking about when it will happen. I'm glad to be on this forum and that bitcoin is so inclusive. I will remember this thread when Bitcoin reach 7 figures.

Did anyone freak out yesterday or get sad about the price drop? We have to be aware of the price levels we are at. When bitcoin was worth $990 it going down to $958 did not have the same effect on people's minds as when it has dropped from almost $100K to $95.9K. We have to get used to these price swings on the way to a million. In the not too distant future price increases or decreases of tens of thousands of dollars in a single day will be normal.

As far as I know, we have just over 1.3 million bitcoins left to mine and the mining of these bitcoins will last until 2140. Meanwhile, in just 8 months since the ETF was approved, they have purchased over 1 million bitcoins, which makes me question whether the halving is still the main catalyst for bitcoin price increases. In my opinion, we should monitor and evaluate the demand for bitcoin in the coming time to predict when bitcoin will reach $1 million instead of continuing to depend on halving. If the demand for bitcoin continues to be maintained or tends to increase more strongly when Trump declares his support for bitcoin. Bitcoin hitting 1 million could happen faster than you think. People are still clinging to the halving and thinking that is the biggest catalyst but in my opinion things have changed.

I think the OP is fast tracking to the future, not even the near future cause that figure isn't realistic in this bull run, it could be possible in the next two circles but not now, Bitcoin is almost 100k and yet to break into the six figures and someone is already thinking about seven figures. Well, it's not bad to think deep and wish your thoughts could be fast tracked into a reality, I'm not saying it's never possible, of course it is, we've all seen the potential and how far it could go, we've seen that more people are embracing it but then heading to the seven figures in this circle or even the next is not realistic, it would definitely get to that point sometime in the future and hopefully we'll witness it get there. I've stopped bothering myself about what the price of Bitcoin would be in future or how high it can go cause I've come to so much believe in the potential of it and all I care about right now is accumulating more of the coins for the future, which I consider very important.

I never worry about the price of Bitcoin falling, I worry about the future. Because from the past to today, the price of Bitcoin has only gone up and sometimes it has gone down, this is a good opportunity for investors to invest in Bitcoin. Because when the price of Bitcoin reaches 100,000 dollars, it will move towards 200k dollars, in this way, step by step, I think it will not take much time for the price of Bitcoin to reach 1 million dollars. Maybe we will have to wait for another bull market to start to reach 1 million dollars, when the price of Bitcoin touched 95k dollars and I bought Bitcoin for 96 thousand dollars. I bought deep with the funds I had accumulated by following the DCA method.