Bitcoin Will Never Reach 1 Million

[duncun007 3577]

I have seen a lot of people talking about bitcoin reaching higher levels up to 1 million but those people never ask where will this liquidity come from? 

before the 2012 halving the price of bitcoin was 12$ and after the halving we saw a marketcap growing from bellow 1 billion to 14 billion and the second halving the second halving the price was 650$ and then the marketcap grew to over 250 billion in late 2017,  i think by now we all know the next halving will be in 2020 so the market will need over 10 trillion dollars for the price to rise up and mining to be profitable, so unless anyone out there can tell me where crypto will get that liquidity from i dont see bitcoin going that high.

[alicenora 144]

It will be more than it! You will see...When it's price 30 usd it went up to 200 USD and everybody said it will steal your money etc...But it went to higher again and again.It will continue doing this surely'

[cheewy 271]

i don't know where is come from. 1 million is big, and i agree with you. with the condition like this, reaching 40k-50k is possible than 1 million. just open your eyes now, people said, when baktt released, bitcoin price will go up. but see now.

[Nicecrypto 543]

 

2 hours ago, duncun007 said:

I have seen a lot of people talking about bitcoin reaching higher levels up to 1 million but those people never ask where will this liquidity come from? 

before the 2012 halving the price of bitcoin was 12$ and after the halving we saw a marketcap growing from bellow 1 billion to 14 billion and the second halving the second halving the price was 650$ and then the marketcap grew to over 250 billion in late 2017,  i think by now we all know the next halving will be in 2020 so the market will need over 10 trillion dollars for the price to rise up and mining to be profitable, so unless anyone out there can tell me where crypto will get that liquidity from i dont see bitcoin going that high.

I kinda agree with you on this one. I have also commented on some post here where I see some saying that BTCs price could hit $1m and Even it is possible for anything to happen but the $1m price is some how way high for me to grasp but if it does happen I guess those with BTC bags would be the world owners.

[duncun007 3577]

19 hours ago, Muneeb said:

Yes you are right if the BTC will go to high and cross 20,000$ then it touch just 30,000$ to 40,000$ and then it comes down again because 1 million target is so much high and its not possible that BTC will touch 1 million this year it takes up to 10 years to touch 1 million target. 

its not about how long it need to touch 1 million my friend, its about from where will the market get over 10 trillion injected to pump the price that high, and after the halving BTC should stay above 20k so it can be still profitable for miners.

[Bills 583]

20 hours ago, duncun007 said:

I have seen a lot of people talking about bitcoin reaching higher levels up to 1 million but those people never ask where will this liquidity come from? 

before the 2012 halving the price of bitcoin was 12$ and after the halving we saw a marketcap growing from bellow 1 billion to 14 billion and the second halving the second halving the price was 650$ and then the marketcap grew to over 250 billion in late 2017,  i think by now we all know the next halving will be in 2020 so the market will need over 10 trillion dollars for the price to rise up and mining to be profitable, so unless anyone out there can tell me where crypto will get that liquidity from i dont see bitcoin going that high.

When Bitcoin was at $ 1 nobody thought it would reach $ 100 and when it was at $ 100 nobody thought it would reach $ 1000, nobody can say that it will not reach $ 100K, the market has no liquidity because it has no support, it is a market that obeys the supply-demand.

[duncun007 3577]

1 minute ago, Bills said:

When Bitcoin was at $ 1 nobody thought it would reach $ 100 and when it was at $ 100 nobody thought it would reach $ 1000, nobody can say that it will not reach $ 100K, the market has no liquidity because it has no support, it is a market that obeys the supply-demand.

my friend its not a matter of  supply and demand but ill help you see my point, which one is easier to pump? a coin with 50bn marketcap or one with 3 million? 

[seriousguywithfunnypants 266]

20 hours ago, duncun007 said:

I have seen a lot of people talking about bitcoin reaching higher levels up to 1 million but those people never ask where will this liquidity come from? 

before the 2012 halving the price of bitcoin was 12$ and after the halving we saw a marketcap growing from bellow 1 billion to 14 billion and the second halving the second halving the price was 650$ and then the marketcap grew to over 250 billion in late 2017,  i think by now we all know the next halving will be in 2020 so the market will need over 10 trillion dollars for the price to rise up and mining to be profitable, so unless anyone out there can tell me where crypto will get that liquidity from i dont see bitcoin going that high.

10 trillion dollars? Where did you get that number, my friend? There are 4 million bitcoin lost so the current supply is not 18 m. It is 14 m. Also, I am not counting the Satoshi's famous wallet which has 1m BTCs.

[Bitxalt 452]

20 hours ago, duncun007 said:

I have seen a lot of people talking about bitcoin reaching higher levels up to 1 million but those people never ask where will this liquidity come from? 

before the 2012 halving the price of bitcoin was 12$ and after the halving we saw a marketcap growing from bellow 1 billion to 14 billion and the second halving the second halving the price was 650$ and then the marketcap grew to over 250 billion in late 2017,  i think by now we all know the next halving will be in 2020 so the market will need over 10 trillion dollars for the price to rise up and mining to be profitable, so unless anyone out there can tell me where crypto will get that liquidity from i dont see bitcoin going that high.

we don't know where prices will move, use of bitcoin is still limited in some countries, regulations like that are limiting the growth of bitcoin prices, when global regulations support bitcoin, of course the demand for bitcoin will be high and prices will definitely rise.

[Bills 583]

2 minutes ago, duncun007 said:

my friend its not a matter of  supply and demand but ill help you see my point, which one is easier to pump? a coin with 50bn marketcap or one with 3 million? 

Surely it is so, but it cannot be forgotten that if we take into account the accumulation phase if at least 80% is reached, the price is ready to begin to rise. If since 2014 there was an accumulation stage and it reached $ 20k, this accumulation stage was up to $ 6k, it is possible that at this stage of trend it does not arrive, but for the other market cycle that may be fulfilled it may be. Whales will not settle for 30% they look for more.

[duncun007 3577]

5 minutes ago, Bills said:

Surely it is so, but it cannot be forgotten that if we take into account the accumulation phase if at least 80% is reached, the price is ready to begin to rise. If since 2014 there was an accumulation stage and it reached $ 20k, this accumulation stage was up to $ 6k, it is possible that at this stage of trend it does not arrive, but for the other market cycle that may be fulfilled it may be. Whales will not settle for 30% they look for more.

you haventt answered my question yet...and whales are peoplee with billion dollars what bitcoin need in order to pump is trillions and only countries have that type of money, bitcoin can pump and reach 30-50k but never higher.

[Bills 583]

7 minutes ago, duncun007 said:

you haventt answered my question yet...and whales are peoplee with billion dollars what bitcoin need in order to pump is trillions and only countries have that type of money, bitcoin can pump and reach 30-50k but never higher.

Well, it is a statement that can make sense, although as I say in this market anything can happen, if they want to kill the market and bring BTC to $ 1 they can do it, and they decide where they want to take it this time, although it is already more seriously, Wall Street investors are entering, and these people are not playing.

[duncun007 3577]

17 minutes ago, Bills said:

Well, it is a statement that can make sense, although as I say in this market anything can happen, if they want to kill the market and bring BTC to $ 1 they can do it, and they decide where they want to take it this time, although it is already more seriously, Wall Street investors are entering, and these people are not playing.

yea exactly the whales control the market but i think if we comparing which one will be more realistic ill say bitcon going bellow 1000$ is more realistic than it hitting 1 million, yet bulls have been surprising us for almost a decade now...so we just wait and see.

[teminalibug 309]

17 hours ago, duncun007 said:

I have seen a lot of people talking about bitcoin reaching higher levels up to 1 million but those people never ask where will this liquidity come from? 

before the 2012 halving the price of bitcoin was 12$ and after the halving we saw a marketcap growing from bellow 1 billion to 14 billion and the second halving the second halving the price was 650$ and then the marketcap grew to over 250 billion in late 2017,  i think by now we all know the next halving will be in 2020 so the market will need over 10 trillion dollars for the price to rise up and mining to be profitable, so unless anyone out there can tell me where crypto will get that liquidity from i dont see bitcoin going that high.

You seems like a professional or an expert in this bitcoin thing. so what is your suggestion? what do you think wil be the price of Bitcoin after the next halving?

[Bills 583]

10 minutes ago, duncun007 said:

yea exactly the whales control the market but i think if we comparing which one will be more realistic ill say bitcon going bellow 1000$ is more realistic than it hitting 1 million, yet bulls have been surprising us for almost a decade now...so we just wait and see.

Exactly, now it is somewhat intriguing to me the great number of bitcoins moved towards Exchanges, towards Poloniex, Binance and Bitfinex, all allow the margin trade, and seeing all those movements indicates that at any moment something can happen in the market.

[duncun007 3577]

13 minutes ago, teminalibug said:

You seems like a professional or an expert in this bitcoin thing. so what is your suggestion? what do you think wil be the price of Bitcoin after the next halving?

I'm NOT an expert at all because i joined crypto  in early 2017 so im still new, and nobody can predict the price after next halving not even satoshi himself but in order for mining to be profitable for miners should be above 20k because the amount of mined bitcoin will be cut in half so im guessing the price could be anywhere between 17-25k.. but remember its only my guess and not a financial advice.

[M Aqeel 59]

These are hypothetical predictions by some very ambitious persons. I don not how they predict such values. No solid reasons and logics seems to be advocating these predictions. Even some also predict that bitcoin would ultimately crash to zero. Its difficult to predict what’s going to happen in the next moment.  

[MyThoughts 514]

Why do you think so?
Seriously, why do you say the word "never"?
But what about the likelihood when the fiat currency begins to depreciate?

[Nicecrypto 543]

On 10/20/2019 at 6:23 AM, gtx1050 said:

I oppose the topic. Bitcoin can reach the 1M. Remember the year 2017? It almost reach the 1M right? If I were not mistaken bitcoin that time is around $20,000. Bitcoin start at a low value and as you can see it becomes valuable now. Nothing is impossible with bitcoin and we can never be sure about what it can do. 

I agree with you that we don't know what can happen in the future but to say Bitcoin almost reach 1 million back in 2017 is not true and $20k is not almost compare to 1million, when we see $50k we can say we're halfway $80k can be almost. Just trying to be clear.

[wingfield 137]

Bitcoin has a great potential, which few people anticipate. Once the BTC is halved, the costs for mining (electricity, equipment) will double for the production of a BTC. I believe that Bitcoin will be an international currency and its price will exceed $ 1 million.

[Khan 1414]

On 10/20/2019 at 10:16 AM, alexnambawan said:

Yes, we just need to believe in the power bitcoin because that 99% will vanished and will become 100% accept bitcoin in the world because in the future the digital currency is the main money that we will going to use.

There is no one sure about the future currency 

[miskyming 1588]

reaching 1 million it is unrealistic that is too much,  but if that is really happen then when sending bitcoin i'm sure the fee will be hundreds of dollars I guess.. that would be insane.

[Migo 7946]

For me this almost impossible, I can't imagine that bitcoin will be priced at 1 million, my mind can not accept that, if he reached 1 million than btc will be impossible to have even 1 Satoshi 

[dentolas 551]

On 10/19/2019 at 6:50 AM, duncun007 said:

I have seen a lot of people talking about bitcoin reaching higher levels up to 1 million but those people never ask where will this liquidity come from? 

before the 2012 halving the price of bitcoin was 12$ and after the halving we saw a marketcap growing from bellow 1 billion to 14 billion and the second halving the second halving the price was 650$ and then the marketcap grew to over 250 billion in late 2017,  i think by now we all know the next halving will be in 2020 so the market will need over 10 trillion dollars for the price to rise up and mining to be profitable, so unless anyone out there can tell me where crypto will get that liquidity from i dont see bitcoin going that high.

I also don't think bitcoin is going that high, at least at this point in time... and although high amount of liquidity is present in several other markets and could migrate to crypto, I don't see this happening with such volatility and adoption issues... but I am hopping for a boom in 2020

[duncun007 3577]

6 hours ago, dentolas said:

I also don't think bitcoin is going that high, at least at this point in time... and although high amount of liquidity is present in several other markets and could migrate to crypto, I don't see this happening with such volatility and adoption issues... but I am hopping for a boom in 2020

I see you contradicting yourself here because on the one hand you don't see investors coming in crypto because high volatility but in the other hand you still waiting for a boom in 2020...I think only halving will tell.