Bitcoin’s price is a long way from reaching $100,000, let alone $1 million. To achieve such high levels, bitcoin would need to rise significantly, potentially making it an unappealing investment option. One possible projection suggests that the top of this cycle could be around $120,000, but this view may be met with skepticism by bitcoin bulls.
The implications of hitting a price like $1 million are staggering, with an implied market cap of over $20 trillion and dwarfing major US stocks and the S&P 500. While bubbles can occur, the scale is unlikely to reach such extremes. Instead, the focus shifts to understanding whether we’re approaching the peak or entering a new phase.
The author believes that we’re nearing the end of this crypto cycle. For those looking for multi-bagger opportunities, it’s essential to consider alternative investments. The past has shown that doubling profits can be achieved in previous cycles, but it’s crucial to avoid “Mr. Martingale,” where losses far exceed gains.
For those willing to take on more risk, the new AI token scene presents an opportunity for high returns, albeit with significant volatility. Solana and Base lead the charge, offering a “stock pickers” game that could result in exponential growth or rapid decline. For those who prefer more established altcoins, these coins are likely to experience a final run-up before bitcoin’s price becomes less influential.
Ultimately, this is a high-risk, high-reward market for those willing to take on the challenge. The author remains cautious, but others may see it as an opportunity to capitalize on short-term gains or secure long-term wealth.
Source: https://www.forbes.com/sites/digital-assets/2024/12/17/bitcoin-trading-the-end-of-days