Despite Bitcoin‘s recent dip back below the $100,000 mark, its most ardent supporters continue to forecast its long-term potential, with some speculating that the cryptocurrency could eventually reach a staggering $5 million per coin.
Rob Nelson, host of Roundtable, and David Bailey, CEO of BTC Inc. and mastermind of the Bitcoin conference, recently discussed the digital asset’s price trajectory, volatility, and potential for growth. Their conversation ranged from predictions of Bitcoin reaching several hundred thousand dollars to the bold possibility of it soaring to $5 million or even higher in the coming years.
Nelson opened the discussion by addressing Bitcoin’s volatility, especially following its major price milestones. “I told people it’ll dip; it might drop to the low $90s, and that wouldn’t be surprising,” Nelson remarked. “It’ll go back up; it’s not going to plummet. A 10 percent fluctuation within a new asset like this is not outlandish. I think that’s a reasonable range over the course of a week.”
Bailey agreed, emphasizing that such volatility is part of Bitcoin’s growth process. “Volatility is vitality,” Bailey said. “Bitcoin is arguably the most valuable asset in the world. It should rise by a hundred times in value. You can’t have an asset appreciate that much without volatility—10 percent fluctuations are insignificant.” He even recalled instances from earlier cycles where Bitcoin experienced daily swings of up to 50%.
As the discussion turned to Bitcoin’s future value, Nelson raised the provocative question: Could Bitcoin hit $5 million? “Is it insane to think Bitcoin could reach $5 million by the end of next year?” he asked, pressing Bailey for insight into the factors that could either limit or drive such unprecedented growth.
Bailey was optimistic, predicting a strong upward trajectory, driven by political and economic factors. “By the end of this year, we could see Bitcoin prices in the several-hundred-thousand-dollar range,” Bailey forecasted. “If Trump signs the executive order for the Strategic Bitcoin Reserve, I think we’ll see Bitcoin hitting $1 million by the end of his administration.” He also acknowledged that while the $5 million mark isn’t completely out of reach, liquidity pressures from large asset holders could slow its rapid ascent.
Bailey pointed to the views of Bitcoin advocate Michael Saylor as a long-term benchmark. “Michael Saylor’s mid-range prediction is that one Bitcoin could be worth $13 million by 2045,” Bailey noted, emphasizing the immense potential Bitcoin holds. However, he added that the adoption of Bitcoin by central banks could speed up the achievement of such lofty targets.
Bailey concluded the conversation on an optimistic note, stating, “I’m bullish on Bitcoin—short-term, mid-term, and long-term. It’s a good time to buy.” While Bitcoin’s future remains uncertain and volatile, its dedicated followers continue to believe in its transformative potential.
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