When do you think Bitcoin will hit $1 million for the first time?

[AakZaki]

I don't know, I can't say anything when someone wants Bitcoin to reach $1 million. Even though the price is smaller and maybe it can happen in the near future it still makes sense. $100k alone for 2024 is already making me happy, and currently bitcoin price is still quite far from the last ATH. If you want a price of $ 1 million then you need to be patient and very patient to hold your bitcoins.

[erep]

I don't know, I can't say anything when someone wants Bitcoin to reach $1 million. Even though the price is smaller and maybe it can happen in the near future it still makes sense. $100k alone for 2024 is already making me happy, and currently bitcoin price is still quite far from the last ATH. If you want a price of $ 1 million then you need to be patient and very patient to hold your bitcoins.

There is no speculative analysis that can prove bitcoin will reach $1 million in a few more years, but a prediction of $100k is more realistic to think about in 2024. even I would be very happy if bitcoin reaches $40k within this year because we will be very close to ATH before and very potential to reach new ATH price in 2024. We have hope after high recovery in this year and market will be ready for bullish plan in next stage of recovery.

[Saisher]

Nothing is impossible but I want to be realistic I don't want to be like Mcafee that is so fascinated by Bitcoin to reaching $1 million, people ten years ago did not entertain the thought that Bitcoin will hit the $20k mark but it did.
I will be happy if Bitcoin will hit $100k that's a big achievement already, but with all the FUDS going on and the authorities imposing their will, it will be an uphill climb, but we will eventually get there nothing can beat a strong community.

[Paul Pogba]

I believe the price of $ 1 million can be reached before 2030, there are many positive indications that make us optimistic that the price of $ 1 million will be reached soon, for example the number of communities or users continues to increase, many reports say that the development of bitcoin users continues to show a positive trend, and this can be a price explosion that can happen at any time.

[Swordsoffreedom]

Nothing is impossible but I want to be realistic I don't want to be like Mcafee that is so fascinated by Bitcoin to reaching $1 million, people ten years ago did not entertain the thought that Bitcoin will hit the $20k mark but it did.
I will be happy if Bitcoin will hit $100k that's a big achievement already, but with all the FUDS going on and the authorities imposing their will, it will be an uphill climb, but we will eventually get there nothing can beat a strong community.

We all hope bitcoin will hit the highest price possible, and $1 million per bitcoin is a real thing to dream about. But we need to be realistic and not too greedy, or we will get hurt when our expectations don't come true. I like to take things slow, I mean, we need to hit $100k before thinking of higher targets, the market moves very differently every year, so don't make predictions too far from reality. The $100k-150k target is the one we need to conquer first, and I expect it to happen in 2025, the next bull run.

[Poker Player]

Just for fun, since this is the Speculation forum, when do you think Bitcoin will hit $1 million USD for the first time?

I'd kick myself if the price got there in a couple of cycles, by 2030 or so, but I think it will actually be half that in that year.

Personally I think it'll be during the 2036/2037 bull run, assuming the four year market cycles are still going on at that point. Though the 4 year cycle may have largely faded away by then, but somewhere around those years feels about right.

Probably. I expect that in the next cycles the returns will be lower. In this cycle we had a maximum of 3.5 times the previous one, and going forward I think that will be the ceiling. We can't rule out higher but I don't see it as likely.

One thing that will influence this is monetary policy. If we assume real inflation of 10%, $1M is going to be worth half that in purchasing power in about 4.5 years. We tend to look at that price a lot because it is a round number but the purchasing power by the time we reach it is going to be laughable. Today being a millionaire is not what it used to be. It's good, it means you have financial peace of mind and comfort, but you can't splurge too much, and that's why people have been talking about billionaires for a long time now.

[justdimin]

Bitcoin has not gotten to $100000 and we are talking about when its price will get to $1 million which will require more pumping of money to buy bitcoin. It is better we discuss more on when bitcoin will reach $100000 first, then after that, we can discuss when it will reach $1 million when $100000 has been reached.

Everybody here wants to be alive when Bitcoin hits the $1 million mark but Bitcoin hitting that mark for me is gradual, I don't think we will wake up and just found out that Bitcoin just hit $1 million, we are good if Bitcoin will hit $50k this year then we go speculating and hoping and working that Bitcoin will hit $75k next year, and if there are no FUDS happening in the industry and massive adoption continues then it's possible for Bitcoin to hit $100k if this continues to go and everything is smooth we'll hit the $1 million mark, but with all the FUDS and too many issues and regulation it could go more than 10 years.

Basically it will be gradual, but unless I suddenly pass away from heart attack or something like that which kills people suddenly, I feel like I am going to be alive when that happens. I mean that should be at tops 10-20 years and that means I should be alive in normal situations. Obviously it's life, we never know maybe lightning strikes me and I won't see it, but if life goes normally like expected then it shouldn't really be a problem for anyone.

Unless you are 70 years old, and even possibly in that situation, a million dollars is not as far away as you might think. Some people think it won't happen for another 50 years, but I believe it will be less than 20 years and that is why we will get to see it.

[MoonOfLife]

I believe the price of $ 1 million can be reached before 2030, there are many positive indications that make us optimistic that the price of $ 1 million will be reached soon, for example the number of communities or users continues to increase, many reports say that the development of bitcoin users continues to show a positive trend, and this can be a price explosion that can happen at any time.

That's too short a time for bitcoin to hit that milestone, I doubt and don't believe it. The world's interest in bitcoin is still growing, but that doesn't mean its price will skyrocket. With a $100k goal that hasn't even happened yet, the idea of a $1 million goal is too far-fetched to dream about.

[DeathAngel]

I think bitcoin will hit $1,000,000 for sure, it’s obviously very difficult to estimate when. Just for fun though, I will join in. I think if we are still seeing 4 year cycles play out then that can give hs a starting point to make a prediction, the next halving is approx Q2 2024. The price usually moons approx one year after the block reward halving so I would estimate something like this -

Halving in 2024 ——-> 2025 cycle high of $200,000
Halving in 2028 ——-> 2029 cycle high of $500,000
Halving in 2032 ——-> 2033 cycle high of $1,000,000

[Marvell1]

I think bitcoin will hit $1,000,000 for sure, it’s obviously very difficult to estimate when. Just for fun though, I will join in. I think if we are still seeing 4 year cycles play out then that can give hs a starting point to make a prediction, the next halving is approx Q2 2024. The price usually moons approx one year after the block reward halving so I would estimate something like this -

Halving in 2024 ——-> 2025 cycle high of $200,000
Halving in 2028 ——-> 2029 cycle high of $500,000
Halving in 2032 ——-> 2033 cycle high of $1,000,000

Your estimate is very reasonable that if history continues to repeat itself in the future, then bitcoin will hit $1 million by the 2033 bull cycle. When bitcoin hits $1 million, that means bitcoin's market cap will reach nearly $20 trillion, twice the market capitalization of gold. Meanwhile, gold has taken centuries to reach its current $11 trillion market cap, so I don't think things will be that simple for bitcoin. Not to mention the market capitalization at that time will be very large compared to the capitalization of the stock market that has existed for hundreds of years. That is quite unrealistic, but the future is unpredictable, no one knows. Let's wait and see what happens.

[pooya87]

That's a challenging question because things are changing too fast in the world these days. A couple of years ago when I talked about dedollarisation nobody believed me. Today it is the hot topic around the world.
The economy is facing a lot of radical changes too. With high inflation in countries that never believed it alongside recession and deindustrialization are all pushing the people in the world into thinking about alternative ways to store value. Bitcoin is an excellent candidate which means in the following years we could see a lot more adoption and at a much faster speed.

With all that said my choice is the first option in the poll (2029 or sooner) even though it is such a broad time-frame since as I said things are changing too fast and we could see $1 million in a year or two instead of 6.

[doomloop]

Nothing is impossible but I want to be realistic I don't want to be like Mcafee that is so fascinated by Bitcoin to reaching $1 million, people ten years ago did not entertain the thought that Bitcoin will hit the $20k mark but it did.
I will be happy if Bitcoin will hit $100k that's a big achievement already, but with all the FUDS going on and the authorities imposing their will, it will be an uphill climb, but we will eventually get there nothing can beat a strong community.

You are probably right that keeping expectations that are almost unrealistic or impossible to come true will only hurt you in the long run, and it is always better to just see things in a realistic manner and only expect what's achievable. $100k is not a small price for Bitcoin to reach, that will be an amazing milestone to cross for Bitcoin.

As you said, considering how rapidly the regulations and laws are becoming more and more against the technology and all the coins/tokens in general, it will surely not be a smooth ride to go that high but it's achievable.

[Falconer]

That's a challenging question because things are changing too fast in the world these days. A couple of years ago when I talked about dedollarisation nobody believed me. Today it is the hot topic around the world.
The economy is facing a lot of radical changes too. With high inflation in countries that never believed it alongside recession and deindustrialization are all pushing the people in the world into thinking about alternative ways to store value. Bitcoin is an excellent candidate which means in the following years we could see a lot more adoption and at a much faster speed.

With all that said my choice is the first option in the poll (2029 or sooner) even though it is such a broad time-frame since as I said things are changing too fast and we could see $1 million in a year or two instead of 6.

I agree with your analysis, another consideration is that banks are in big trouble these days and that will definitely encourage more people to buy bitcoin as an alternative. But anyway, I should consider a bit slower time frame, at least in the next 2 halving cycles. I will be very happy if $1M is finally reached, even sooner the better.

[darkangel11]

I have chosen "NEVER"!

Even though im a huge fan or big supporter of Bitcoin but i dont see that it would really be hitting up a million per coin.Its impossible but considering on how still big space for possible progress or future movement
then it could be possible but im not really that longing for this price considering that it would really be not that simple to be achieved and considering on how much recognition and entire population
would be needing to be mainly supporting it.If ever the whole popular in real numbers on which we are just that 4% then there's still too much
space for us to move around.

Then I advise you to check the US dollar value vs gold in the last 100 years.
It used to be pegged 1:1 to an ounce of gold. In the 70s it was already 200 USD for an ounce, now it's 2k USD! So, that's how much value your dollar lost in less than 100 years. With that in mind, it's safe to say that we will see further decline and this is going to grow exponentially.

Bitcoin can hit a million dollars not because it becomes so valuable, but because the dollar becomes so weak. In the next 10 years the dollar will halve in value due to inflation, but it's going to probably lose even more to bitcoin because of growing acceptance, especially in Africa.

[Saint-loup]

I think bitcoin will hit $1,000,000 for sure, it’s obviously very difficult to estimate when. Just for fun though, I will join in. I think if we are still seeing 4 year cycles play out then that can give hs a starting point to make a prediction, the next halving is approx Q2 2024. The price usually moons approx one year after the block reward halving so I would estimate something like this -

Halving in 2024 ——-> 2025 cycle high of $200,000
Halving in 2028 ——-> 2029 cycle high of $500,000
Halving in 2032 ——-> 2033 cycle high of $1,000,000

Bitcoin can't reach a value that is way above its mining cost, because people can always mining it themselves or buying mining time at mining farms instead of buying it. And reaching $1m for its mining cost implies to consume an over critical amount of electricity while countries like US are already taking stance against mining currently. So I think it's unlikely to happen before the last mined Bitcoin unfortunately.

[pixie85]

Bitcoin can't reach a value that is way above its mining cost, because people can always mining it themselves or buying mining time at mining farms instead of buying it. And reaching $1m for its mining cost implies to consume an over critical amount of electricity while countries like US are already taking stance against mining currently. So I think it's unlikely to happen before the last mined Bitcoin unfortunately.

We don't know what the mining cost is going to be in 2032. We also don't know what the dollar index will show at that exact time.

You understand we could have a recession, money printing madness, or even a world war by that time. It's really hard to predict what the future will bring.

I think a million dollars in 10 years is possible. Think of it this way. in just 5 years bitcoin went from being worth 50 cents to 1000 dollars. That's a 2000x increase. Bitcoin going from 20 000 to a million is only 50x increase and we have twice the time to reach it.   

[Pejoh Asu]

If we look at current developments, I believe that in the maximum term of 10 years or in 2033 the price will reach $ 1 million, of course many hope that the price of $ 1 million can occur faster because they want to get a big profit, in my opinion the price of $ 1 million can occur faster if this year the price can touch at least $ 100k.

[savetheFORUM]

That's a challenging question because things are changing too fast in the world these days. A couple of years ago when I talked about dedollarisation nobody believed me. Today it is the hot topic around the world.
The economy is facing a lot of radical changes too. With high inflation in countries that never believed it alongside recession and deindustrialization are all pushing the people in the world into thinking about alternative ways to store value. Bitcoin is an excellent candidate which means in the following years we could see a lot more adoption and at a much faster speed.

With all that said my choice is the first option in the poll (2029 or sooner) even though it is such a broad time-frame since as I said things are changing too fast and we could see $1 million in a year or two instead of 6.

You do realize that $1m is a very big amount, right? And for Bitcoin to reach that price, it will need to have billions of dollars in it, so I think no matter how fast the world is changing, no matter how bad the economies of different countries are and even if the currencies are devaluating, it is still not a lot of reasons for Bitcoin to get enough demand and supply to reach $1m that too in a year.

I believe in blockchain technology, and I know it's here to stay, but I want to see and expect things in more of a more realistic manner than having imaginary thoughts and expectations. So I think it may reach a very high value sometime in the future, but we are still way far away from that.

[WillyAp]

I believe in blockchain technology, and I know it's here to stay, but I want to see and expect things in more of a more realistic manner than having imaginary thoughts and expectations. So I think it may reach a very high value sometime in the future, but we are still way far away from that.

The blockchain technology has a way better chance to mix into real live business.
Bitcoin is far from ideal to be a payment coin. Litecoin, BCH are much better.
All coinuser should try to convince shop owners to accept crypto. A business is a win-win situation, so the shop owner should also win.

[Saint-loup]

Bitcoin can't reach a value that is way above its mining cost, because people can always mining it themselves or buying mining time at mining farms instead of buying it. And reaching $1m for its mining cost implies to consume an over critical amount of electricity while countries like US are already taking stance against mining currently. So I think it's unlikely to happen before the last mined Bitcoin unfortunately.

We don't know what the mining cost is going to be in 2032. We also don't know what the dollar index will show at that exact time.

You understand we could have a recession, money printing madness, or even a world war by that time. It's really hard to predict what the future will bring.

I think a million dollars in 10 years is possible. Think of it this way. in just 5 years bitcoin went from being worth 50 cents to 1000 dollars. That's a 2000x increase. Bitcoin going from 20 000 to a million is only 50x increase and we have twice the time to reach it.   

Yes but human life and society have nothing to do with few points on a chart unfortunately and many so-called predictors permabullish like PlanB have totally failed by trying to do such things. It's not reasonable to think that the mining cost of one Bitcoin could reach $1m in the coming years. Bitcoin needs to change its mining model to reach such high values.