Quote from: redsun114 on April 09, 2024, 05:15:53 AM

Quote from: fuguebtc on April 07, 2024, 10:06:00 AM

It is true that bitcoin is becoming a new trend and receiving a lot of attention from people around the world, but let's not ignore the scenario that in the coming years there will be a better currency than bitcoin created and it will surpass bitcoin. So what we should do is enjoy the present moments, don't think too much about things that haven't happened in the distant future. My immediate goal is to still take profits in the upcoming bull season and I will base my next plans on the market situation.

That's a possibility because we can't know what might happen in the future, however, even if there is no other asset or technology created that surpasses Bitcoin and its popularity, it would still not be easy for it to reach $1m because for that to happen, Bitcoin would need a lot of adoption and a huge inflow of investments because the price only increases when there is high demand and that demand would only make it go that high if there are more and more money being invested in it.

The current market cap of Bitcoin is a little above $1.3T when the price is around $69k, so for it to reach a price of $1m, it will need to have a market cap of more than $18T or something and that is huge. So, we might not be able to see that happening very soon even though it might not be impossible.

Many people only look at bitcoin supply and price to make paranoid predictions, and they never think about bitcoin's capitalization. It took gold more than a hundred years to reach a capitalization of 15 trillion, and the stock market is the world's largest financial market with a total capitalization of more than 90 trillion. It is an illusion that many people think that an asset that is not widely popular or has not yet been accepted worldwide can reach a capitalization of 18 trillion USD. You're right, it's not going to happen anytime soon and at least in our generation, it's not likely to happen.