Bitcoin price prediction: Is it possible for Bitcoin to get to $1,000,000 by 2025?
One cannot deny that all cryptocurrencies had to face a very rough time last year. As a matter of fact, Bitcoin, the biggest cryptocurrency on the planet, has lost more than 60% of its market value during 2022. Several unfortunate events, like the Terra Luna crash, caught the crypto buffs off guard during this time.
However, a number of questions might be hovering in the minds of all individuals right now: what is going to happen next? Is it possible for bitcoin’s value to rise once again to its earlier heights?
Is it possible for bitcoin to get to $1,000,000 by 2025?
On most occasions, bitcoin buffs have virtually impossible predictions for their preferred currency. Moreover, following this mini-bull run, there had been a number of discussions running around the idea that bitcoin, the largest digital coin on the planet, could even experience a level of $10 lakh by 2025.
Several prominent personalities in the present crypto space have echoed this hypothetical and significant figure of $10 lakh right now.
Samson Mow, the CEO of JAN3, a crypto firm, as well as a notable bitcoin entrepreneur, is of the notion that it is possible for this cryptocurrency to get to $1 million within the subsequent five years.
These types of wild assumptions led Balaji Srinivasan, the previous technology chief at Coinbase as well as an investor, to take a bet that it will be possible for bitcoin to get to at least $10 lakh within a span of only three months.
This kind of strong statement was made by Balaji Srinivasan on the assumption that while the world enters the phase of hyperinflation, the value of the dollar will become weak, which will result in individuals starting to purchase an increasing number of bitcoins. By the term hyperinflation,” we refer to a rapid increment in the cost of items and services over a certain span of time.
On the contrary, crypto experts are of the notion that it might be possible for bitcoin to get to $10 lakh within the next few years, but not so soon, and forecasting this particular level this year or within 90 days is almost next to impossible.
The chief strategy officer at Gemini, a cryptocurrency exchange based in the US, named Marshall Beard declared bitcoin would reach $1 million within 90 days, and he also asserted that certain crazy things are taking place in this world that they do not want. Nevertheless, he added that it might take as many as a decade to reach anywhere near this extreme estimate.
Conclusion
Despite the fact that you will come across a number of predictions and views on bitcoin, some happen to be bearish while the others are bullish. We need to wait patiently and see where this cryptocurrency is going to head next. Known for its resilient character, bitcoin carries a significant capacity for making comebacks. During the last 10 years, it was predicted by a number of veteran experts that the bitcoin bubble was going to burst in the near future. However, many individuals still favor the poster boy of digital currency, and they have also assisted the investors in making significant fortunes over time.
