Will Bitcoin hit $1 million?

[Fennishlassy@gmail.com]

Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so.  If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen?  What do you guys think?

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@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

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[raviabbott]

If it hits that wonder what the transaction fees would be lol

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Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so.  If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen?  What do you guys think?

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@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

Yes it could be possible. BUT every higher demand of money there will be a great exchange too. It may cause a higher transaction fees if have a chance. There will be advantage and disadvantage in every aspect.

[MiiDoViic]

Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so.  If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen?  What do you guys think?

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@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

That was a typical Publicity stunt for Jhon McAfee ,ever since he mentioned that bitcoin will be worth 1m$ ,the video went viral and McAfee started mareting ICO's and other coins while getting paid . So yeah it's fair to say that his words were utter bullshit and based on nothing but a delusion to grab people's attention.
I'm not saying bitcoin do not have that potential but if it ever going to happen it's so far away and by that time the price of the USD would be worth less becaus of the inflation.

[nl247]

Well, you said it. It is a claim. No one could have thought bitcoin would hit this point we are calling a dip some years back, so, I believe anything can happen with the value of bitcoin in the long run but from where we are presently, it looks pretty impossible.
Also, McAfee has always been known to be bullish on cryptocurrencies, even shit coins as well, so I am not surprised him saying something like that. You should check his twitter page.

[JTTech]

I'm not saying it's impossible, but I have severe doubts that Bitcoin will ever come even close to a million dollars. I personally don't see anything that supports that price level. If anyone has any articles or research they have done, I would like to see if I could potentially be wrong. It would be incredible, but I'm a realist and that seems like a pipe dream.

[Fennishlassy@gmail.com]

I don't know.  He did say he would eat his sick if he was wrong lol

[Coins4Days]

Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so.  If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen?  What do you guys think?

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@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

Yes it could be possible. BUT every higher demand of money there will be a great exchange too. It may cause a higher transaction fees if have a chance. There will be advantage and disadvantage in every aspect.

Higher transaction fees from a higher bitcoin price boggles me. If the price of bitcoin is to double from today, shouldn't the fees be proportional and cut themselves in half? The miners would be profiting more with the higher price, and the users of the network would not be backed up against a cliff when they want to send $10 worth of btc for a $10 fee.

I had a transaction with 25 sats per byte that took over five weeks to confirm. Five! If the entire network as a whole lowered their fees, miners would have no other choice to accept them. Right now, the fees are okay, because btc is in the middle of a price correction.

[Bolt Brownie]

There are reasons to believe that bitcoin would reach that price if it would succeed in it's goal to become a currency used by people worldwide to buy and sell stuff. Also let's not forget that there is a halve happening in 2020, so bitcoin will become even more valuable by then. I'm not so sure about the entire crypto market going to "$60 trillion, or 1/3 of all the money in the world". As bitcoin gets more stable, and gets a real use case, the hype around crypto will also decline, and a lot of bubble coins will disappear. We have thousands of coins and tokens, but I would say that we will end up getting a very small amount of them being functional. I think that if bitcoin manages to become the "universal coin", it's dominance won't be just 33%.

[spngebob]

Too crazy to happen?  What do you guys think?

1 satoshi will be equivalent to 1 cent, so probably it won't hit $1M. I can't imagine paying 200-300$ fee for 10$ worth transaction.
I don't think anyone can. Too high price will make bitcoin useless.
Imagine someone wants to buy bitcoins equivalent to 200$ - and can't send it because fees will eat all balance.
I think everyone has forgotten what dust is.

[SiDtHeBeSt]

No, I don't think it can ever go so high. I mean it can but it would be pretty hard and might take forever to reach there. It might keep on increasing till like 100k$, but even that would take alot of time. Also, after the drop which happened recently, alot of people would have suffered from loss(the panic sellers of course), and I don't think most of these people would invest again, so the number of people investing would be less. So, I don't think bitcoin might ever reach 1M USD.

[greenclub09]

Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so.  If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen?  What do you guys think?

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@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

stop dreadming like that man, even rightnow, bitcoin is still having a very hard time to reach 20000$ much less 1 million, from now to 2020, bitcoin will only reach 50000$ is top, i don't think reach higher is impossible but face the fact that bitcoin will take a very long time  to reach 1 million, while bitcoin is still very fluctuative around 11000$ rightnow.

[QuestionAuthority]

Two years from now? Could you imagine the schizophrenic seizure the blockchain and current system of mining farms would have with that level of transactions happening every day? LOL

Think about it logically, bitcoin couldn’t keep up with a $20k value which caused more than a 200k transaction backlog in the mempool. At that rate bitcoin was making roughly 5 transactions a second. At a $1mil price, all other things equal, that would be a 50 fold increase in the number of transactions. That’s 250 transactions a second with 10 million transactions stuck in the mempool regardless of the fee. ROFL

[Booooooo]

To make this happen, the capitalization of cryptology should increase a hundredfold. But this will take at least 5 years. 2020 is a bit early.

[tyuner4]

As much as I will be glad to see Bitcoin to 1 million, I don’t think it will happen in 2 years realistically.

[Tony_Nguyen]

Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so.  If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen?  What do you guys think?

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@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

Anything is possible. Let's wait and see

[Bushrat Jahan]

It is too much difficult to determine which will be held in future and how much price will be. But it is predictable that BTC has good future and it will be high and high. But in near future btc will hit $1 million.

[solovev]

It will take at least 5 years to reach that mark. Very few people will have the patience for it.

[redhondaxrm125]

Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so.  If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen?  What do you guys think?

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@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

man this is some big news you have here. although it may seam a bit impossible looking at the price now, i think it can really happen when we look at the last trend of bitcoin december last year. that is, if it so should happen that it would follow the last year's trend.

bottom line is, no one can really tell for sure what will happen to the crypto world the next day or beyond that. anyone's predictions may only be as good anybody else's guess. anyone telling you that they are sure is either delusional or lying to you.

by the way, great way to advertise your telegram channel. lol.

[Stedsm]

I don't know.  He did say he would eat his sick if he was wrong lol

That's such a bullsh*t way of trying to make believe their words.
For Bitcoins to reach that level, it should either be started being taken as an asset and not a currency, because it will never achieve the occupation of a currency because of its liquidity. Value of Bitcoins will now depend on the intervention of Governments and how people react to it, which is why no new investors are getting into it the way they were doing it before. The developers really need to come up with something that could scale Bitcoins, until which it will not rise in the style we want it to be.