1BTC Reaching 1million Still Unrealistic

[Murpheus]

P.S I didn't do economics anyways

I have taken university-level economics courses, and I'll be damned if I could tell you for sure whether it's impossible for bitcoin to reach $X, whatever X is.  With all the money that's now in circulation, I'd say pretty much anything could happen.

It's not just bitcoin that's on fire.  The stock market is and has been soaring for over a decade now, and I have this gut feeling that we're in for a reckoning--a crash or at least a serious correction in a few markets, bitcoin being one of them.  There's been a lot of institutional buying going on, and that's helped to bump bitcoin up to where it is now, but there's no telling when those corporate whales are going to start selling.  Believe me, if they sense danger in bitcoin they'll jump ship with no regard for anyone but themselves.  That could turn out to be a scary situation for anyone holding BTC for the long-term.

There is going to be a dump no doubt... but when is the big question, I dont think the big whales will tap out any sooner, I mean am sure they knew what they were jumping into, like they always say when one door is closed another is opened, there will always be new whales cashing in when the old ones tap out

[1715206067]

1715206067

[BrewMaster]

There is going to be a dump no doubt... but when is the big question,

some things can only happen in pair and never alone. for a dump to be there has to be a pump first. you can't expect a dump without it, same as you can't expect the lack of a dump without a pump.

so far all we had was price going up and that doesn't mean "pump" and there is no reason for a "dump" either. we first have to see price go up like in 2017 (that is 100% in 3 weeks) then we can talk about how "dump" is guaranteed!

[Oilacris]

There is going to be a dump no doubt... but when is the big question,

some things can only happen in pair and never alone. for a dump to be there has to be a pump first. you can't expect a dump without it, same as you can't expect the lack of a dump without a pump.

so far all we had was price going up and that doesn't mean "pump" and there is no reason for a "dump" either. we first have to see price go up like in 2017 (that is 100% in 3 weeks) then we can talk about how "dump" is guaranteed!

Dump is inevitable on a market and we cant just see a market that would really continue to rise and this what makes even more harder for to believe on that Bitcoins price will able to hit 1 million.

If we can imagine on how big we do need in terms of adoption or recognition this is something particularly talks about full adoption. Market will be facing up lots of pumps and dumps on suchcase.

I agree on the fact that 1 million prediction is still unrealistic or even it do happen but this would surely not happen in our lifetime but well, who knows? Bitcoin had never failed to impress us
from time to time and lets see on how far we would able to go.

[7788bitcoin]

Anything is possible with global hyperinflation and Bitcoin can even be one million if dollar and all other fiat currencies goes wild like we saw in Zimbabwe and other parts of the world.

We might see inflation but there is no way the major countries will be affected with hyper inflation like Zimbabwe , you need to come up with such policies constantly for us to see hyperinflation and if US is affected then Euro will be used as the global currency.

That would be much different world than we know now and it would be only temporary until some new currencies arise, and we know from history that all fiat currencies will collapse sooner or later.
Maybe we need to start and calculate wealth in Bitcoins instead of dollars.

Historically there will be major power shift but we might not see a power shift in the near future and it is impossible to start calculating your wealth in bitcoin simply because of the volatility.

[notblox1]

We might see inflation but there is no way the major countries will be affected with hyper inflation like Zimbabwe , you need to come up with such policies constantly for us to see hyperinflation and if US is affected then Euro will be used as the global currency.

You should better read and study more about hyperinflations and you would see that it was not only Zimbabwe that had hyperinflations but also many other countries including Germany, and every single fiat currency that ever existed in the world collapsed at some point, so why would dollar be any different?

Bitcoin is only volatility as you say because printing is out of control and you live in illusion that fiat currencies are stable and you are not looking at prices and cost of living.
I could buy much more things with 100 dollars 10 years ago than now, and I can buy much more things with 100 Bitcoin now then 10 years ago.

[KTChampions]

Dump is inevitable on a market and we cant just see a market that would really continue to rise and this what makes even more harder for to believe on that Bitcoins price will able to hit 1 million.

If we can imagine on how big we do need in terms of adoption or recognition this is something particularly talks about full adoption. Market will be facing up lots of pumps and dumps on suchcase.

I agree on the fact that 1 million prediction is still unrealistic or even it do happen but this would surely not happen in our lifetime but well, who knows? Bitcoin had never failed to impress us
from time to time and lets see on how far we would able to go.

You are too pessimistic about what we can see in our lifetime) Progress in all areas is accelerating, plus if we consider that there will be some revolutionary transitions ahead, such as a quantum computer or technological singularity, then we can see in 20 years how the whole world will change completely, and not some individual areas.

[hatshepsut93]

Total wealth is already 400 trillion and keeps growing. Right now 21 trillion would be ~5%, in some years it would be even less. It's not outside of realm of possibility of Bitcoin touching this price levels, all you have to do is get people to refuse to sell, then the demand would easily send Bitcoin to the moon just like it's happening now. Bitcoin being stable at 1 million is a whole different thing, we currently only achieved stability at $10,000 so maybe stability at 1 million would really never happen.

[pooya87]

Prices that are far away from the current price have always seemed unrealistic to certain people from the day bitcoin was created. You think people thought $1 was "realistic" back in 2009? Of course not. What do you think about $1 price right now
$1 million is not any different from all the prices that we have passed in the past 12 years and seemed unrealistic before they were reached.
Not to mention that the rate inflation is increasing and with all the money that governments specially the big ones have been printing, $1 million is going to be the start not the end.

[arwin100]

Dump is inevitable on a market and we cant just see a market that would really continue to rise and this what makes even more harder for to believe on that Bitcoins price will able to hit 1 million.

If we can imagine on how big we do need in terms of adoption or recognition this is something particularly talks about full adoption. Market will be facing up lots of pumps and dumps on suchcase.

I agree on the fact that 1 million prediction is still unrealistic or even it do happen but this would surely not happen in our lifetime but well, who knows? Bitcoin had never failed to impress us
from time to time and lets see on how far we would able to go.

You are too pessimistic about what we can see in our lifetime) Progress in all areas is accelerating, plus if we consider that there will be some revolutionary transitions ahead, such as a quantum computer or technological singularity, then we can see in 20 years how the whole world will change completely, and not some individual areas.

Those guys who dump their thousands of BTC for a pizza and other cheap things think that bitcoins will not go far at the current rate so I believe everything by now have possibilities especially the one said and if there is a transition to digitalization on economic system for sure bitcoin will get benefited if that scenario happens. I believe many years from now we will go to a revolutionary digital financing system and since bitcoin exist by now this one will be the possible option to be adopted by government so this one could possibly lift up the price unto that figures.

[zanezane]

Total wealth is already 400 trillion and keeps growing. Right now 21 trillion would be ~5%, in some years it would be even less. It's not outside of realm of possibility of Bitcoin touching this price levels, all you have to do is get people to refuse to sell, then the demand would easily send Bitcoin to the moon just like it's happening now. Bitcoin being stable at 1 million is a whole different thing, we currently only achieved stability at $10,000 so maybe stability at 1 million would really never happen.

Easy to convince people on paper but convincing people not to give in to their greed is a difficult thing to do. If they see an increase, they will see it as an opportunity to sell because they believe that a high price means a crash is imminent, as if they are trying to relive what happened back in 2017-2018. The solution is to have more people to buy, introduce it to a bigger market, have the regressive government lift the ban on cryptocurrency and more people becomes free from buying cryptocurrency which increases the demand which in turn a reason for increase in the prices. 1 million USD per 1 bitcoin is the current dream but I think that we have a lot of things to think of before crossing that 2 comma club.

[newwest]

I don't think you need to waste a lot of energy on this...
no one will know tomorrow how much Bitcoin will cost. If we went back 10 years ago billions of people would not believe 1 Bitcoin would be worth $ 40k. still with the old belief 'nothing is impossible in this world'.

1million is long away from what is the current price and, we need to understand the fall in between it could happen and years if it takes to recover the drop and bounce back. The current rise which always happens after the halving and will need to see in 2022 how does it grows from there on. The current year still may see above 50k but could it sustain for very long is the big thing which bothers met at time.

[TheGreatPython]

If 1BTC is worth $1,000,000

Therefore 21,000,000BTC will equal
 21,000,000 × 1,000,000 = $21,000,000,000,000

Thats what $21trillion, almost 8% of all the wealth in the world??

Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.

So if BTC takes all 8% to itself, what about real estate and all the other sectors??

It is definitely "unrealistic", that is the right word for it. People who think it could happen do not realize that we are not talking about price being 1 million dollars is impossible, it is not impossible, it could very well happen, hell I didn't expected 40k neither but it happened anyway, so this is not about being impossible.

It is about being unrealistic because we are talking about 40k to 1 million dollars which is 25 times higher, that would make bitcoin bigger than gold and nasdaq combined, and let's be honest bitcoin is great and could go up high but bitcoin to be bigger than gold and nasdaq combined is not really something I would expect anytime soon, probably ever. Which means 1 million dollar per bitcoin will not happen anytime soon, maybe in 10+ years it could be realistic, even happen, but not anytime soon because it would be "unrealistic" to expect that.

[KTChampions]

You are too pessimistic about what we can see in our lifetime) Progress in all areas is accelerating, plus if we consider that there will be some revolutionary transitions ahead, such as a quantum computer or technological singularity, then we can see in 20 years how the whole world will change completely, and not some individual areas.

Those guys who dump their thousands of BTC for a pizza and other cheap things think that bitcoins will not go far at the current rate so I believe everything by now have possibilities especially the one said and if there is a transition to digitalization on economic system for sure bitcoin will get benefited if that scenario happens. I believe many years from now we will go to a revolutionary digital financing system and since bitcoin exist by now this one will be the possible option to be adopted by government so this one could possibly lift up the price unto that figures.

In those days, it was unrealistic to understand the prospects for bitcoin so we shouldn't blame those people. As for digitalization and the further departure of most of the economy to the digital world, this will undoubtedly strengthen the position of cryptocurrencies, however, governments will try to control this process, which means the transition will not be as easy as we would like.