Here's what the article explained.
https://finance.yahoo.com/news/prediction-bitcoin-could-worth-20-090000591.htmlDuring the past decade, Bitcoin has transformed from a digital currency into a unique, standalone asset.
If Bitcoin is truly digital gold, as some think, it could skyrocket in value to $20 trillion from its current $2 trillion.
Over time, Bitcoin should become less volatile, as more investors view it as a stable, long-term investment.
Now here's the million-dollar question, do you guys think that’s possible at this pace?
Right now the total market cap is around $2 trillion. So if we’re talking 10x, that means Bitcoin would be trading at $1 million per coin.
Sounds kinda wild, right? But do you think there's any chance this could happen in the next 5 years? Or is this just one of those crypto fairy tales we keep telling ourselves to sleep better at night?
lol 5 years?! What is with the crazy desire to have it go up so fast? I mean sure that would be great but obviously it isn't remotely realistic. We aren't in the 2010's anymore. Bitcoin can't move 10x anymore like that.
A good reasonable timeline for reaching $1M Bitcoin is 2040, give or take a couple years.
A $1M price for bitcoin isn't "kinda wild", it's inevitable. Eventually $1M will be very small compared to Bitcoin's price, though by the time it is in the tens of millions much of that is just going to be from inflation of the dollar. But it's gonna take time to grow to $1M territory. We're still many years away from such prices.
Just think about it this way: it took bitcoin 7 years to go from hitting $10k for the first time to hit $100k for the first time (and the one before that, $1k to $10k, took 4 years). Bitcoin growth has been and will obviously continue to slow over time. It's completely absurd to think the next 10x would happen quicker than the last one. So the next 10x from $100k to $1M is going to take a lot more than the 7 years it took for the last 10x. 15 years is a reasonable time frame.