In the same vein, bitcoin could hit $1 million but it will certainly take a long time to get there and probably won't happen in the next few decades, let alone the next 5 or 10 years.
One thing I see is that many just look at the price of bitcoin and make predictions, they never look at its market cap and think about how much money it would take for bitcoin to reach $200k or $1 million. If they look at that and realize that we're talking about trillions of dollars, not just a few million dollars. They will see that for bitcoin to go from $100k to $1 million is not the same as for bitcoin to go from $10 to $100 or $1,000.
One thing I see is that many just look at the price of bitcoin and make predictions, they never look at its market cap and think about how much money it would take for bitcoin to reach $200k or $1 million. If they look at that and realize that we're talking about trillions of dollars, not just a few million dollars. They will see that for bitcoin to go from $100k to $1 million is not the same as for bitcoin to go from $10 to $100 or $1,000.
Indeed. Only a large influx of capital will help drive Bitcoin all the way to $1m. With institutional investment companies buying BTC like crazy (BlackRock, Strategy), achieving said goal becomes a no-brainer. Bitcoin might get there faster than we've thought. Maybe our dreams will come true 5 years from now? Only time will tell. Current market prices would be considered a bargain if that happens. I'd expect another bear market before BTC reaches $1m. Just keep buying and don't sell no matter what.
