Will BTC hit 1M ?

[pawel7777]

(...)  whereas fiat not only inflates every year but it will still be strong because the government always regulates it.

The ability of governments to keep inflation under control are somewhat limited and we've seen many cases in the past when the values of currencies were spiraling down uncontrollably. That's why we often see that countries with high inflation have to resort to outright banning their citizens from freely exchanging foreign currencies and putting a halt on crypto trading.

In fact, it is not impossible for Bitcoin to take over the role of fiat currency as a means of payment. (...)

If we're talking about Bitcoin taking over the role of all global currencies or USD (and not just some small local ones) then it is impossible, even considering Lightning Network. Some new blockchain solutions would have to be developed, or a huge chunk of transactions would have to be processed by centralised entities.

[lepbagong]

As said before, you need to understand the economics. When a commodity supply is less and the demand to accumulate the commodity is high, the price goes up for that particular commodity in order to meet the demand. Just a classic example of supply and demand. Similar things happen with Bitcoins also. Hence, the price can definitely go till 1M if the demand to accumulate the coin keeps on increasing day by day.

There is always a possibility that this could happen, and you are right. That is a normal thing, because if there is an increase in demand, then the price will increase significantly, which will adjust to that demand. Likewise with what Bitcoin will experience, if demand continues and supply is always running low, then it is inevitable that the price will automatically increase, so reaching $1M could happen, but not in the near future.

There must be good news that can trigger an increase in the price of bitcoin, as happened last time when the Bitcoin ETF was launched and the Halving occurred, making many people think that the price of bitcoin would soar high and in fact the whales granted their wish. To reach the price of $1M will certainly not be as easy as we imagine, the whales have to burn a lot of money.

It is certain that any good news will trigger the movement of Bitcoin, as you say. As the the last is ETF's influence, and it is not impossible ETF Ethereum if it will happen, will also give back encouragement. I think the Whale did not affect it rose yesterday but indeed the trade was quite high, because of the influence of the ETF. I also think things that are not easy to reach $ 1M in the near future for Bitcoin can achieve it. It takes will take several times to halving Bitcoin again.

[bitterguy28]

This is the question of a lifetime , because it seems to be no specific year when we will be hitting this but once bitcoin step into 100k and above then that is the sign in which we are nearing to deal with 7 digits value .we have been seeing increase for bitcoin every 4 years and its getting higher and higher each time.
if this event will continue then we will be making a million dollar price in the next couple halving.

[kotajikikox]

It will definitely hit 1M, but yes we just don’t know when. It can happen in 1 year or 10 years also. Everything depends on the demand raised by the people to accumulate the coin. Few years back no one thought Bitcoins will cross 1000$, but currently Bitcoins have become the most valuable digital asset. So we just need to keep calm and show faith in the coin. Just accumulate and hold it for few years. Definitely you will see the profits.

Not just about the demand but also depends on the government regulation and I think it will be hard for Bitcoin to reach that level if the government still not accepting it as a legal tender. Well, I’m also positive about the Bitcoin price and I think it can happen in 10 years or more as we are still dealing with so many challenges today, but soon if there’s a limited supply already with Bitcoin, that $1M ceiling price can surely be hit.

Indeed mate that it will be harder fpr bitcoin in increase its value in short time because Government is the main ingredients here for this great currency reaches  7 figures but before that lets look for 6 digits first in which soon to happen at least next year if not happens now.

Bitcoin rose from under $1 to $69k without any approval or legal tender from the government. So on what basis do you think that whether bitcoin reaches 1 million USD or not depends on the government? Governments are indeed the biggest barrier slowing the spread of bitcoin, but they are not the main factor or catalyst that helps bitcoin value increase. Bitcoin once rose to $69k from zero without the government, it will be able to do it again to reach $1 million without government help. If bitcoin receives support from the government, it will help bitcoin reach $1 million faster, but if not, bitcoin reaching $1 million will still happen over time.

because if the government will kick their policy against Bitcoin then for sure that will hinder bitcoin in reaching a million dollars .
yeah you are correct because bitcoin grows without complete support from each government but remember because those government did not run against bitcoin but if they will go together then that will be the reason why bitcoin may not hit that million.

[AnonBitCoiner]

This is the question of a lifetime , because it seems to be no specific year when we will be hitting this but once bitcoin step into 100k and above then that is the sign in which we are nearing to deal with 7 digits value .we have been seeing increase for bitcoin every 4 years and its getting higher and higher each time.
if this event will continue then we will be making a million dollar price in the next couple halving.

We are very far from the value of 1M now because we don't have reached to 100k$ now and it seems that 100k$ will definitely take a lot of time so you can easily think that 1M will definitely take lots of years.

We can just wait for the proper timing but we cannot identify about the proper timing therefore if someone wants to get profit from the worth of 1M then he should hold for numerous years and there are no predictions of how many times it will take to reach to 1M. First of all we are waiting for 100k$ if it becomes possible then the next target will be 1M.