• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
bitcoin price moon when
Nexo

When Can Bitcoin Price ‘Realistically’ Hit $1 Million?

Martin Young by Martin Young
3 years ago
in Bitcoin Price, Bitcoin
0
Advertisement

Price predictions for bitcoin are usually met with a lot of skepticism, which is more noticeable when the figures are ridiculous by today’s standards. A million-dollar BTC is not beyond the realms of possibility but it is still a long way off.


Bitcoin Price at $1 Million by 2038?

Looking at historical cycles is a good way to make predictions on future ones. The caveat is that BTC is only a decade old so we don’t really have a great deal of data to go on.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

In his latest video, analyst Benjamin Cowen has extrapolated data from the bitcoin logarithmic regression model to attempt a realistic prediction as to when prices will reach seven figures.

A ton of people have been asking me to extend the $BTC logarithmic regression model to estimate when #Bitcoin can reach 1M. Here it is! Check out the video where I discuss this chart!https://t.co/lgCbPGf6Lb pic.twitter.com/ieFfAqbWIY

— intothecryptoverse (@intocryptoverse) December 31, 2019

The first primary assumption is that market cycles are getting longer with the first peak to peak taking 2.5 years and the next took 4 years. There are only two data points though so there is a huge margin for error.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The next bitcoin price peak according to this theory would be around 5.5 years after the December 2017 peak. This would put bitcoin prices at around $100,000 by 2023. This has all been plotted using logarithmic regression under the assumption that there will not be a halving rally this year.

Cowen added that this is purely hypothetical and based upon long term movements ignoring the market pumps and dumps of a couple of thousand.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

He then plotted the next potential market cycle which took 7 years to take bitcoin to $500,000 by 2030. The peaks are getting closer to the regression band as market cycles extend. Assuming BTC stays on this course it could realistically arrive at the next peak which is a million dollars by 2038 or 2040.

Four More Halvings

By then it will have gone through four more halvings which will have dramatically decreased the supply, potentially increasing demand through perceived scarcity.

The prices have been derived by adding a number of logarithmic regression lines for potential support and resistance zones as time goes on. Each cycle drops 2.5 log lines during each bear market in this model.

He added that volatility will be reduced over time and the ‘mania phases’ will also decline. The next cycle is expected to produce massive gains over the next 3 years or so but subsequent ones will be a lot slower in terms of potential returns on investment.

“If you’re in the bitcoin market you still have a much greater potential ROI in the next three years,”

So there you have it, another price prediction which puts BTC at a million dollars in the late 2030s, by which time John McAfee will have already had his phallic lunch.

When will bitcoin price peak next? Add your thoughts below.


Images via Shutterstock, Twitter: @intocryptoverse

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Martin Young

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Related Posts

Bitcoin

Bitcoin Koalas: 55% Of Investors Didn’t Sell Their Coins During Crypto Storm

1 hour ago
Crypto

Crypto Rout On Trading Volumes Costs Coinbase $1.1 Billion In Losses

4 hours ago
Bitcoin

Bitcoin Rally Ignites Lackluster Performance Of Crypto Stocks

8 hours ago
bitcoin miners

Bitcoin Miners Sold 5,700 BTC During July, New Report Finds

18 hours ago
Bitcoin

Bitcoin Miner Revenue Slows Down As BTC Price Slumps Sideways

19 hours ago
Crypto

Crypto Markets Have ‘Hit The Floor,’ JP Morgan Says, As Bitcoin Nears $24,000

24 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.