Can Bitcoin Really Reach One million dollars by 2030 or 2035?

[Pandorak]

(...)

The price seems far for me also but we could use its past data to actually predict what the price of bitcoin might be by then. Bitcoin reaching that amount over that period is relatively short time for bitcoin to achieve that going by historical data. It is more realistic that we witness up to 4 cycles before bitcoin reaches that amount which many will agree to that. Bitcoin is a very powerful cryptocurrency that works on a path, I am certain that we may see more of this in the coming days as that will be a perfect target for many holders currently now will want to take profit on.

Essentially, we all hope that Bitcoin will continue to follow the same pattern as in the past, where a significant decline during each bear market cycle is inevitably followed by a rally that sets a new ATH surpassing the previous cycle’s peak.

Unfortunately, there’s absolutely no certainty here, everything involves risk, Bitcoin is no exception. That’s why we’re advised to always invest using discretionary funds. To mitigate the risk of future losses, at the very least, if our Bitcoin investment fails, our real life will still go on, completely undisturbed.

On the other hand, i personally am currently always trying to maximize every Bitcoin purchase, despite the risks, i have a high level of confidence in this particular asset. I also have high hopes that these figures will indeed be achieved someday.

[Swordsoffreedom]

It's okay to speculate, it's not a problem, precisely because it's speculation that makes the conversation interesting even though we don't know what the future will be like, at least thinking about it today is a picture that becomes hope.
One million can be possible, see how inflation continues to grow every year, especially if the value of fiat gradually continues to decline in the world, the demand for bitcoin continues to increase because money continues to grow in society and bitcoin becomes one of the alternatives they store their money, the mechanism is quite simple, when inflation grows gradually and moreover if the inflation is very high will bring bitcoin to $1 million it is very possible, this is the basic logic of my perspective.

I've never said Bitcoin won't hit $1M someday. Quite the opposite, I'm very bullish on that target. What I'm saying is that I don't think BTC is likely to hit $1M within the 2030-2035 timeframe we're discussing.

Also keep in mind that inflation erodes fiat purchasing power and can drive demand for BTC. But that doesn't mean all the newly printed money is gonna flow into Bitcoin. Bitcoin isn't the only inflation hedge, store of value, or investment option out there.

So I'm not ruling out BTC reaching that price. I just reckon it'll take longer than people expect.

[bangjoe]

It's okay to speculate, it's not a problem, precisely because it's speculation that makes the conversation interesting even though we don't know what the future will be like, at least thinking about it today is a picture that becomes hope.
One million can be possible, see how inflation continues to grow every year, especially if the value of fiat gradually continues to decline in the world, the demand for bitcoin continues to increase because money continues to grow in society and bitcoin becomes one of the alternatives they store their money, the mechanism is quite simple, when inflation grows gradually and moreover if the inflation is very high will bring bitcoin to $1 million it is very possible, this is the basic logic of my perspective.

I've never said Bitcoin won't hit $1M someday. Quite the opposite, I'm very bullish on that target. What I'm saying is that I don't think BTC is likely to hit $1M within the 2030-2035 timeframe we're discussing.

Also keep in mind that inflation erodes fiat purchasing power and can drive demand for BTC. But that doesn't mean all the newly printed money is gonna flow into Bitcoin. Bitcoin isn't the only inflation hedge, store of value, or investment option out there.

So I'm not ruling out BTC reaching that price. I just reckon it'll take longer than people expect.

Speaking of time, maybe it's too fast if targeting a maximum in 2035, because bitcoin needs approximately $18.5 T from the current capitalization of $1.5 T, thirteen times the growth that needs to be achieved because Bitcoin already has 20 million more coins circulating in the market now, this requires fresh funds from new markets or new money entering the market within the next 10 years, in my opinion this does not make sense in terms of market growth, we can see gold which is in 31T takes hundreds of years to reach it, Bitcoin can reach $1 million it may just be time in my opinion is not so simple.

I'm also not saying all new printed money will flow into bitcoin, and I'm saying bitcoin as an alternative storage of money for some people, which of course I'm also considering how people would store their money in another basket, therefore saying "alternative".