Bitcoin to $1 million?

[cheezcarls]

If you’d have asked the small handful of individuals interested in Bitcoin this time 10 years ago what they thought the leading digital asset’s price would be at the end of the decade, few, if any, would have said thousands of dollars. Looking forward to the next 10 years, it seems that a lot of people are now much more convinced that the future is bright for Bitcoin.

In December 2009, Bitcoin essentially had no price. Without a formal exchange platform to create a market for price discovery, early proponents of the digital asset would swap coins at whatever rate they saw fit. In terms of real-world value, each Bitcoin in these early days was worth tiny fractions of a cent.

Click here to read the rest of the news

It may be impossible or possible. Either way, we don't know what happens....

Of course, everyone is expecting for Bitcoin to go bullish this year because of halving. When we talk about the long-term results of Bitcoin and other cryptocurrencies, it is unpredictable.

John McAfee would eat his d*** live on TV if BTC will not reach a million dollars by the end of this year. But if we are going to talk about this decade? I just don't know if Bitcoin would go even further, especially when the quantum threat arises.

[bitcampaign]

I still remember him he will air on national TV will eat his penis, but I also cannot say he is lying because we are still at the beginning of the year and he said the prediction is valid at the end of 2020, I will wait for this whether this old man can keep his promise, I believe it will increase but 1 million dollars will seem difficult

[Wind_FURY]

OP, 6 digits is my target, but if it goes to 7 digits, I believe I won't be capable to control my emotions, and stop myself from crying while dancing naked in public.

BUT, let's relax, buy as much of this current opportunity as much as we can.

[sunsilk]

I'm counting for higher price but not with $1,000,000. Hearing that before gave the majority a goosebumps because we're on the pumping line but after that and saw the bears stomps the bulls, we don't think that it's viable for this year. It's too early to assume with that price and what's interesting now if John McAfee will be responsible to enough to do his promise.

It's going to be one of the most controversial deal ever after the end of the year. Although, I'm still not closing the possibility and chance for that price but it's on a very minimal chance for me. We should be excited to see the 5 digits first before aiming 6-7 digits.

[Casdinyard]

Well, McAfee is nothing but a jerk and he's definitely making the crypto world a circus.

It's kinda tiring to anticipate the price anymore and all I want to do now is not minding my bitcoin and just focus on accumulating. Moreover, being realistic is the least we can do and stop day dreaming on thosw 7 digit value.

[bitvalak]

What McAfee said contradicts what happened, there are still people who still believe what he says. But this is good because there will be two views about Bitcoin travel so far.
At least we need people like him to entertain this environment rather than having to be tense and anxious to see market conditions that are sometimes not in line with expectations.

[rijaljun]

I do believe Bitcoin can reach that extremely high price. But no, I am not believeling this is an easy to reach. It is always possible and I want it to happen as soon as possible but let US be more realistic.

We have no doubt about the potential use of Bitcoin and the fundamental things but there are always other things that make the way harder like stupid drama and fake news. So, what we could expect is to see the performance of Bitcoin after the next halving, to be more sure I am gonna wait Bitcoin performance in the Q4 of 2021 to make a decision whether to believe this more or leave it behind.

[Ferris419]

Bitcoin did well all these 10 years, the journey of the past decade was great and in this decade we will see Bitcoin in a dream place, but I don't think Bitcoin's price will hit 1 Million USD ever, it's just over hope for me. And the John McAfee guy's statement is just funny and ignorable, he lost his popularity long ago because of his shitty predictions and behavior.

[Sterbens]

Bitcoin did well all these 10 years, the journey of the past decade was great and in this decade we will see Bitcoin in a dream place, but I don't think Bitcoin's price will hit 1 Million USD ever, it's just over hope for me. And the John McAfee guy's statement is just funny and ignorable, he lost his popularity long ago because of his shitty predictions and behavior.

Bitcoin journey is so good and able to show its best results to bitcoin holders to date, I first knew bitcoin when the price was around $ 400 and now it has reached $ 7000 and this extraordinary achievement might be called the best trip for bitcoin.
But the price of 1 million USD is still too far and that is such a high fantasy.

[thecodebear]

$1 million may be possible one day, but that is likely decades away. Six digits is a more reasonable prediction in a more reasonable time period. I would certainly expect low 6 digits to become a normal price for bitcoin during the second half of this decade, and wouldn't be surprised if it hits six digits for a week or two in the next 2-3 years to close out the current market cycle. But for the next 5 years five digits will be the norm, 7 digits is too far away to even think about. How likely is it that you are going to be still holding a substantial amount of bitcoin as an investment or store of value decades from now?

[Gozie51]

John McAfee's prediction for a million dollar for this year is very far to come. It might get to that price but it is not in this year.
We have to look at certain parameters for that and the very important one is the adoption rate. Adoption is important here before will start looking at how far the price will go or how halving will affect the price.

[Argoo]

Of course, bitcoin will never have a price of one million dollars. Over the past ten years, the cryptocurrency market has taken shape and gained strength, bitcoin has risen in price to $ 20,000. However, this does not mean that it will continue to grow in value. We see that after reaching a price peak, it fell by 70 percent. The price of a decentralized cryptocurrency is very unstable, so the price of bitcoin now fluctuates up and down. Bitcoin will go up many times, however, I do not think that its price will ever exceed $ 50,000.

[gentlemand]

Of course, bitcoin will never have a price of one million dollars.

It's possible. The circumstances in which it happens are the decider in whether it's a good thing or not. If it reaches 1 million from early six or late five figures in a short period of time we're going to get a hangover that'll drag on for years. Since there's a finite amount of coins on exchanges that's possible if demand goes absolutely nutty.

If it reaches it because the dollar has become massively devalued then that's not really good for anyone either. A million dollar bitcoin sounds just as silly as a 1 dollar loaf of bread would've sounded once upon a time but it happened.

[The Sceptical Chymist]

If you’d have asked the small handful of individuals interested in Bitcoin this time 10 years ago what they thought the leading digital asset’s price would be at the end of the decade, few, if any, would have said thousands of dollars.

That's probably very true.  I remember in 2015 people were asking if bitcoin would ever hit $10k and I remember thinking they were crazy.  I figured if bitcoin were every to get that high, there would have to be some kind of economic meltdown--but bitcoin did hit that price and there wasn't anything of the sort.

That said, it's going to take a lot of buying to cause bitcoin to get to $1 million, and it's got to get through all sorts of other price milestones first.  I think even $100k is a long ways away.  I have to stop short of speculating as to how long that's going to take, because these things always seem to take me by surprise.  Bull markets usually do.

And right now I'd be very happy if bitcoin would just get back to $10-15k or some other respectable price.  Here's to the halving.

[vintages]

I do love to see John fulfill his words but at the same time, I am not seeing a $1 million Bitcoin just because he said so. I am seeing it because I believe the capability of Bitcoin. Though, I know that price won't come this year.
I will be so glad to laugh at those who think this coin won't make the next decade.

[Baofeng]

OP, 6 digits is my target, but if it goes to 7 digits, I believe I won't be capable to control my emotions, and stop myself from crying while dancing naked in public.

Lol, if it goes to 7 digits then everyone will go crazy with the amount of money they're going to make out of BTC. And for those haters, I don't know. 

BUT, let's relax, buy as much of this current opportunity as much as we can.

So I will be waiting for that time to arrived, I do hope that it will be in 2020, but I highly doubt it though. The next halving will be the catalyst for sure, but I'm seeing the price around $15k-$18k after that. Let's see what will happened in 2021 and beyond, it's going to be interesting if 6 or 7 digits are doable.

[figmentofmyass]

BTC at $1 million puts the market capitalization at $21 trillion once the supply is mined out.

for comparison, there is:
-$8 trillion of gold
-$1 trillion of silver
-$5 trillion of cash in circulation
-$80 trillion in "broad money" (savings, checking, money market, etc accounts)

with widespread adoption (including institutions and governments), it would be reasonable for bitcoin to take a sizeable bite out of those markets. and when you consider volatility and liquidity issues due to its scarcity, surpassing $21 trillion (at least temporarily) seems very possible.

[Johnyz]

I’m trying to be more positive about this one but its really too good to be true right now, maybe I’m thinking like this because of the current price of bitcoin but maybe in the coming years bitcoin will start to aim better heights again. Its possible if the timeline is longer than expected, but not this year.

[harizen]

If you’d have asked the small handful of individuals interested in Bitcoin this time 10 years ago what they thought the leading digital asset’s price would be at the end of the decade, few, if any, would have said thousands of dollars. Looking forward to the next 10 years, it seems that a lot of people are now much more convinced that the future is bright for Bitcoin.

In December 2009, Bitcoin essentially had no price. Without a formal exchange platform to create a market for price discovery, early proponents of the digital asset would swap coins at whatever rate they saw fit. In terms of real-world value, each Bitcoin in these early days was worth tiny fractions of a cent.

Possible or not, surely along the way, bitcoin will expect lots of pressure and countless obstacles while going way up. On its way to $20,000 last 2017, hard and strict regulations about crypto commence in some of the countries (some are good, some are not). I believed if BTC price will breach $30,000, it would trigger again another "alarm". Big whales will surely take advantage of the situation and a big crash will follow.

10 years isn't enough for me for BTC to establish a dream price of $1,000,000. It's not the same as the run that happened from zero to cents to $20,000 within 10 years. But if that will happen, then that's definitely good. Who else doesn't want? However if not, then fine.

And as for me, I didn't even think that will happened honestly. I tend to be closed on being realistic. $10,000 is a dream price for me to considered back then but I don't hope for that to happen but it happened. I just allow the process. It will be the same for $1,000,000? Let's see.

[1Referee]

It's far more likely that Bitcoin becomes a unit of account before it reaches $1 million, which means that the valuation won't matter that much anymore.

I however don't like going ahead in time that much. Let's first get the price to break its all time high and then important barriers such as $50,000 and $100,000. After $100,000 we can start talking about $1 million in a more serious and sensible manner. Everything takes time, so let's appraciate the opportunity we have today where we can buy Bitcoin below the $10,000 level.

As a perma bull, I like to have as much time as possible to accumulate Bitcoin at current levels. You only have such an opportunity once. Whenever we go through the next parabolic cycle people will blame themselves for not having bought more coins at current levels.