~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.
As a result, increasing adoption will result in lower bitcoin price volatility. If adoption has reached a global scale, then people will expect more stability so as not to lose out due to its volatility. If price volatility is still very high and bitcoin prices tend to be manipulated, then the government is unlikely to legalize its adoption. Even if it is legalized, it will not reach a global scale.
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.