Hi all,
I have been investing in crypto since early November so not too long.
So far I am invested in 8 different coins but am yet to get involved with Bitcoin.
I think I have been hesitant up till this point because of how much it has crashed since I started investing 9 weeks ago but I have been reading a few articles online saying how it is possible for Bitcoin to reach $1,000,000 in years to come.
Is this possible? If so how likely is it to happen and how far down the line are we talking? 2025? 2030?
I want to start investing in Bitcoin for the long term so would be happy if it even reaches $500,000.
It is definitely a possibility, however you have the wrong mindset, if you are hoping for such a high price then you need to be willing to hold for as long as it takes to reach that price, so whether it takes a few years or decades should be irrelevant to you.
However the fact that you care and you want to at least get some sort of timetable for when this could actually happen tells me it is too soon for you to become a long term holder, and if you tried to implement the strategy you would sell for a bad price if the market happens to crash.