$1 million may look big but if you look at how far it is from current price, you won't think it is far anymore.
remember in 2017 price went up about 10x and 10x from $70k is $700k which is pretty close to $1 mil.
with the way the new US president has been hyping bitcoin, we may see that happen in no time
don't underestimate the power of advertisement at this level.
remember in 2017 price went up about 10x and 10x from $70k is $700k which is pretty close to $1 mil.
with the way the new US president has been hyping bitcoin, we may see that happen in no time
don't underestimate the power of advertisement at this level.
But they are not the same because when bitcoin was priced at $10k, its market cap was only $200 million and for bitcoin to reach $100k, we only need about $2 trillion more. But for the price of bitcoin to increase from $100k to $1 million, we need $18 trillion, which is 9 times larger and not a small amount. It will not be easy for us to attract such a large amount of money into the market in such a short time. The larger the capitalization, the smaller the growth because more money is needed to fuel that growth. That is why when investing in bitcoin these days, we will not be able to get a profit rate of up to thousands of percent like many years ago.