Hello, fellow traders! Bitcoin is hitting new all-time highs each day, and the wait after the halving is finally paying off. The excitement over Bitcoin’s recent price action is on a whole new level. In today’s blog, we’ll explore Bitcoin’s long-term price targets and discuss whether it’s possible for Bitcoin to reach the $1 million mark in the future.
We’ll look at ideas from some of Bitcoin’s biggest supporters and explore the main factors that are pushing its value higher.
So let’s talk about the main factors:
Fred Krueger, a respected figure for his keen mathematical insights, has long emphasized that Bitcoin’s growth follows power laws, indicating that exponential growth isn’t just possible but highly probable. The key driver behind this is Bitcoin’s capped supply of 21 million coins. Every four years, a “halving” event slashes the number of newly created Bitcoins, intensifying its scarcity. This scarcity, coupled with rising demand, is what mathematically fuels Bitcoin’s price increase.
Krueger simplifies it, stating, “When demand rises while supply remains fixed or reduces, prices are bound to climb. Bitcoin’s built-in supply limitations create a self-fulfilling cycle of value growth.”
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2 Responses
Great article. Thank you. I’m looking forward to the masses seeing what we’ve all seen when Bitcoin was created. I’m looking forward to amore stable financial future.
I legit had to google the unfortunately named Fred Krueger.