The Case for a Million Dollar Bitcoin Price
Bitcoin Price Predictions
Bitcoin price predictions go as high as $1 million and beyond. It seems as though the sky is the limit if bitcoin’s market cap continues to grow.
The world’s largest cryptocurrency previously reached close to $20,000 in late 2017 before a dramatic pullback. Then, in late 2020, we saw another unprecedented bull run begin. Bitcoin reached new heights throughout 2021, hitting upwards of $68,000 in November 2021.
Can Bitcoin Reach $1 Million?
Big names in cryptocurrency and investing have thrown around $1 million bitcoin price predictions. Several years ago, a $1 million bitcoin felt like an impossibility. In early 2011, bitcoin was trading for just $1. Even when bitcoin surged to nearly $30 that same year, no one was thinking about a $1 million price tag. Year over year though, bitcoin continued to appreciate, bringing larger numbers into focus.
Bitcoin is the type of asset that can go parabolic. Hitting highs near $70,000 in 2021, $1 million was becoming a realistic possibility. Bitcoin’s low for 2021 was $30,000 which is 33x off of $1 million. The $70,000 high that year was just 14X off the elusive million dollar bitcoin.
