Hello my friends. No, I am not delusional, nor is it clickbait, or a strategy to attract readers; This is not a bad analysis of the most important cryptocurrency on the market, nor is it that I am an uncompromising maximalist (in fact, I am neither a maximalist, nor a minimalist with any cryptocurrency), but in this article today (and given the evolution of the price that BTC has brought in the most recent months), we are going to make some interesting considerations.
To get started...
Can Bitcoin be worth $ 5 Million at some point?
The answer is yes, in fact, I think it is something that will inevitably happen at some point; Now, what I am not so clear about is exactly when it will happen in terms of time; it could take 10 years to happen, or 15 years, or it could happen in the next 5 years ...
The reason why no one can be absolutely certain when exactly this is going to happen is Bitcoin's fundamentals. As more money enters the BTC capitalization market, it is normal for its monetary value and its perception by buyers (both usual and potential new users) to increase.
Do you doubt that BTC can ever reach $ 5 million?
With a BTC whose price at the time I write this text, exceeded 56 thousand dollars, it is normal that many laugh at the very idea that BTC could be worth so much money in the future ...
The possibility of BTC reaching the price of $ 56,000 must have seemed the same to that person who spent 10,000 BTC on 2 pizzas, back in 2010
But precisely, let's analyze for a second, objectively, what has happened to BTC since its inception ... What was the price that Bitcoin had since its creation, and how many times has it increased in recent years? What has been the general trend in the price that you have brought? How much has Bitcoin gone from November 2020 to now? What is the current trend in the charts of major temporalities when we analyze them?
Think about the answers to all these questions, and probably that idea sound less ridiculous for you every time ... What happens is that at a point where BTC is worth approximately 56 thousand dollars, few will be so visionary as to see the great future potential that will have. Be careful, we can be wrong, but I believe that it can reach the price of 5 million dollars at some point, for many reasons, that is, because in addition to the considerations that we can make when mentally answering the questions I raised in the previous paragraph, there is another thing too.
Let's imagine or rather ... Let's analyze and calculate
Let's imagine that the price of BTC is not at this moment in the 55,785 $ in which it is at the moment I write this post, rather let's imagine (for purposes of simplifying the calculations mentally speaking) that it is in 50 thousand dollars nothing more ($ 50,000.00), then ... How many times would Bitcoin have to increase to reach $ 5,000,000.00?
The answer is, astonishingly, only 100 times that price. One hundred times it is a barrier that depends on the scenarios (which are increasingly looking more favorable due to the entry of more and more important companies to invest in cryptocurrencies) Bitcoin can break those price limits like butter. In fact, Bitcoin has exceeded its price thousands of times at times, if we talk about the value it had since its inception.
It is true that it will probably not be entirely easy; It is true that it will have thousands, millions of fluctuations along the way (since not everything can be always up and up when it comes to price in the markets). It is also true that it will probably not be fast, but what I do believe and think is that BTC has the winning tickets to be worth that sum of 5 million in the not too distant future; and that's just to speak of a target.
It is also true that it will have to leave gold far behind to reach that point in price, and become the most important haven of value of all time, one that has no physical representation; quite a milestone. But Bitcoin is an expert in setting new milestones every time and surprising us all ... Don't you think?
All of this is already possible, but the way in which it will become more and more likely will be in the measure that more institutions, more car brands, more companies, banks, millionaires and companies of all kinds starting to invest in BTC. .
All this will happen, when even ordinary citizens, who do not have much money, hear about BTC, get to know it and start to handle it; This is how we talk then about the mass adoption of Bitcoin and cryptocurrencies in general; something that many see very far on the map of time, but with each step, each day is closer of getting.
Many people will refuse to accept it or see it or recognize it, until they see that the value of BTC reaches an approximate value of $ 500,000.00; And it is there that everyone (from important and famous people, to institutions), will begin to take for granted that BTC will not only reach 5 million, but most likely much further after that happens.
For those who think that I went TO THE MOON on my analysis I would tell them to analyze everything that was raised. And I ask you something else.
Intuiting that BTC is going to be worth 5 million dollars, what is the wisest thing to do?
Seeing things this way, I, personally, will start to invest more and more in BTC (I mean I will hold BTC); using the Dollar Cost Average technique, because if I am right (and I really believe I am), it will be much more convenient for me to buy Bitcoin at these price levels than when it reaches 500 thousand dollars. But be careful, I speak in terms of what can be get to accumulate. And beware also, as I always tell you, I am not recommending anyone to invest or buy BTC or any other cryptocurrency, I am only talking about what I personally plan to do (and am doing) in that regard.
Do you doubt that it could also cost 500 thousand dollars?
Well, anyone who does, is in their right to see it like that, but if we take the example already given of BTC at 50 thousand dollars right now, it should only increase 10 times; yes, just 10 times to get to that point, and as I said before, surely at that point, yes everyone will start to see that 5 million dollars is not so crazy after all.
In addition, something important must be remembered, as there will only be a total of 21 million Bitcoin in all its history); and with more and more people and companies interested in it, it is not illogical to think that it can reach those heights in price.
Does the title of this post still seem crazy to you?
Well my people, this is all for this post today, thanks for reading me (if someone did and got here). If you liked the post, comment😜 They are read there!