Quote from: Maslate on August 29, 2024, 09:21:00 PM

Quote from: Bd officer on August 29, 2024, 01:47:51 AM

Quote from: Wonder Work on August 27, 2024, 06:46:58 PM

I have seen the Up and Down of BTC, but I could not imagine that it slowly became so popular. Now, I think BTC will do very well in the near future. It is still in very good shape, though. It will cross 100k+ very soon. What is your personal opinion about BTC?

Bitcoin price is increasing day by day, will increase more in future. If we go back 10 years ago then we regret why we didn't invest 10 years ago. 10 years from now will regret the present again. Many people predict that Bitcoin will hit $1 million dollars, I also believe that Bitcoin will definitely hit $1 million dollars in the future. However we may see a bull run soon and Bitcoin may hit $100k in the upcoming bull run. Currently Bitcoin is very reliable, because Bitcoin has been able to recover from huge downs. Bitcoin hit $69k in 2021, dropped to $16k in 2023 but the market recovered within a year. So investing in bitcoins is very low risk, if you can hold for long term you can definitely profit. Bitcoin is currently very popular and will gain more popularity in the future.

There's no doubt with that bitcoin will eventually reach a million in the future. But of course, let's not anticipate that the process will be all smooth since we all know how price correction or market crash will pull its price down again until bitcoin manage to recovers. But as long as bitcoin has proven to still offer huge potentials, then it will definitely be here for long.

As Ale88 said below, the price of bitcoin can increase very easily from $1 to $10, but from $10 to $100, or from $100k to $1 million, will be a much more difficult task. We need a large amount of money to pump into the market, which is not as simple as we think.
The total capitalization of the US stock market is $50 trillion and if bitcoin hits $1 million, that means bitcoin's capitalization will be half the capitalization of the US stock market. That's a huge number and makes me doubt this.
Not to mention, we haven't even crossed the $100k target yet and if I remember correctly this target was mentioned from the previous bull run but we haven't reached it so far. So we need to achieve one goal at a time instead of making bold statements.