Can bitcoin reach $1 million? Detailed Analysis



Can Bitcoin Reach $1 Million? Detailed Analysis

Can bitcoin reach $1 million: Read our detailed analysis on if Bitcoin can Reach 1 M In 2022.

So Can Bitcoin reach $1 Million in 2022?

Bitcoin has fallen in the last 24 hours and now the price of BTC is $19,966.18. Here are the calculations of how Bitcoin can reach 1M:

Price as of June 30th $19,987
How many times will the price have to rise to become 1 M? 51
Market Cap as of June 29th $381 B
How much are 51 times $381 B? $19431 B
If Bitcoin were to rise 20% a year, how many years will it take to reach 1M? 9 Years
If Bitcoin were to rise 50% a year, how many years will it take to reach 1M? 4 Years
If Bitcoin were to rise 50% a year and also Burn 50% of the Coins 2 Years

Can Bitcoin reach $1 Million: Bitcoin Performance 2022

BTC is underperforming since January 22 and no good rise has been seen in months. Bitcoin has lost nearly 60% of its value since January 2022.

1 M 6M YTD
2022 Performance -33.6% -58.4% -59.2%

Can Bitcoin reach $1 Million: Things that are not working for BTC currently are:

  1. YTD Performance: Crypto market is down and almost all the cryptos are lower and this has been the case since January 2022. But what is more concerning is that BTC is one of the worst-performing crypto this year. BTC has lost nearly 58% of its value this year.
  2. Crowd’s Buzz: The buzz is highly negative and there seems to be no improvement in it. Both mentions and engagements are low.
  3. Whale Holdings of BTC has surged over the last 2 weeks

Can Bitcoin reach $1 Million: Last One Year Fall and the Responsible Factors

  • November – Bitcoin fell from its peak in November after October US inflation figures exceeded the 6% mark.
  • January- Due to an increase of 18% inflation BTC fell drastically.
  • February – BTC rose 20% during the Russian Invasion of Ukraine.
  • March- The upward trend continued in March, with Bitcoin rising modestly to $45,539. So Bitcoin has declined just $1000 from December 31st, 2021, when it closed at $46,306 and today. The lowest point was around $34k.With US Inflation numbers rising and the Fed increasing rates twice, Bitcoin fell by a massive 55% between April and June 18th.
  • With oil prices cooling slightly, Bitcoin surged 17 percent from its low of $17,708 on June 18th. However, BTC has stopped with modest development over the previous 5 days as crude oil prices have risen again.

Can Bitcoin reach $1 Million: BTC Shareholder’s Data

  • As per the data by IntoTheBlock 33% of BTC holders are within a 1-12 months time frame while 6% of the BTC holders are less than 1 month old. There are 61% of BTC holders older than 1 year as of now as per the data.
  • As per the data by IntoTheBlock 50% of holders are making money at the current price and 47% losing.

Can Bitcoin reach $1 Million: Why BTC Should be Part of Your Long-Term Investment?

Yes BTC can be a part of your long-term investment due to the following reasons:

  1. BTC has a remarkable store of value and currency for payment.
  2. The current drop in Bitcoin price is due to a lack of liquidity. Liquidity has historically improved at some point in time, thus one may predict that Bitcoin will recover once liquidity returns to the market and BTC prices are related to disposable income.
  3. Strong and cream investors have not yet exited due to which BTC will gradually recover.
  4. Seeing the YTD-BTC we can see that BTC is good at recovering, and this is not the first crash. So eventually this declining phase is going to end soon.
  5. Some people compare Bitcoin to the Tulip Mania, while others relate it to the Dot Com Bust. However, both the Tulip Mania and the Dot Com bubble lasted around three years. Bitcoin has been repeatedly tested in this contemporary era of computers and boom and bust cycles over the previous 12-15 years. So, the comparison is false, and Bitcoin will rebound.

Can Bitcoin reach $1 Million? Conclusion

For Bitcoin to reach $1M it will need to have huge growth in the next few months. Bitcoin has a great acceptance around the world but the cause of concern currently is growing inflation. Due to the rising price the smaller investors have withdrawn their investment in order to meet their daily needs.

Bitcoin in the last 1 year has functioned as per the stock market. When the stock market surged, BTC price surged and when the stock market crashed, BTC crashed. Currently, the stock market is undergoing a turbulent phase, and there has been a blood bath in stock markets around the world.

The crypto market also has been undergoing a turbulent phase. Now for Bitcoin to rise or the crypto market to recover, the stock market, particularly the US Stock Market needs to recover. The current situation shows no likely recovery, therefore it is highly unlikely for Bitcoin Price to reach $1 M this year.

Read BTC Price Prediction

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Can Bitcoin reach $1 Million





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