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The Bitcoin price saw a strong increase in 2023. However, true Bitcoin fans see things in the longer term and believe that one Bitcoin will be worth significantly more in the years to come. Highly optimistic people already think that in 10 years Bitcoin could be worth as much as 1 million US dollars. In what scenario could this Bitcoin price be possible? Can Bitcoin Reach $1,000,000?
Bitcoin has seen huge increases in value over its 14 years and has been the most efficient resource in the world. At the end of 2021, Bitcoin rose from a few dollar cents to a value of over 68,000 US dollars. So we can assume that we will see a much higher price for the Bitcoin price in the next 10 years.
In 10 years we will still see 2, maybe 3 more big bull markets. In 2033, the peak of the third bull market since today may be in the future. This means that the price can still rise massively. Some analysts even see a Bitcoin price of $1,000,000 as a possibility. But how can that be possible?
An increase to 1 million US dollars seems very optimistic from today’s point of view. But there is a possibility that we may ever reach such a high price. Because Bitcoin could not only increase in value through adjustment, but the FIAT money could also lose value in the next few years.
We have seen very well in recent months that FIAT money, even the strongest FIAT currencies like the US Dollar and Euro, can see severe inflation of up to 10%. Quite a few observers believe that even these major FIAT currencies may end up in hyperinflation in the future.
History has shown that there have been more than 50 hyperinflations of FIAT currencies worldwide since the end of the gold standard in World War I. With the massive expansion of the money supply by the FED and the ECB, the US Dollar and Euro are becoming increasingly weak and the Bitcoin price is rising against these currencies.
In the future, it will depend very much on how stable the current monetary system is. The US dollar remains the reserve currency of the entire world. But the American hegemony in the monetary system seems to be declining more and more. Should the US dollar fail in the future, the entire FIAT system would collapse.
In this case, Bitcoin, which has a fixed supply of 21 million BTC, should strengthen massively against the US dollar. In 2033, $10 million would be worth $1 million that year (or less). Either way, you will be one of the biggest beneficiaries of the collapse of Bitcoin.
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