Bitcoin has been the talk of the town lately with the possibility of the coin reaching $1 million per coin in the next few years. But how feasible is it to achieve such a massive milestone? Here are a few points to consider before assessing Bitcoin’s chances of hitting seven figures.
One of the most significant catalysts for Bitcoin bull markets is its monetary issuance schedule, which is designed to reduce the rate of newly issued coins every 210,000 blocks or roughly once every four years. These “halvings” have so far unfailingly sent Bitcoin to new all-time highs within two years of their arrival.
Bitcoin’s halving cycles have historically peaked within 368 to 550 days after the halving and bottomed within 779 to 914 days. By using these tops and bottoms, a crypto analyst named filbfilb has created a “Bitcoin price curve” from which new cycle tops and bottoms can be roughly approximated.
According to the curve, the analyst predicts new highs of over $200,000 per coin in 2025 and $500,000 per coin in 2029. While these projections are just estimates and not a guarantee, they provide a rough idea of Bitcoin’s potential growth in the coming years.
