Could Bitcoin’s Price Reach $1,000,000? (ARK Invest)
- Thread starter The_Krakenite
- Start date
Imagine if it got to $10M (market cap $200T), and then had a 75% drawdown like the one we've just had.
Even a 75% drawdown from $1m ($15T loss) would cause a few financial ripples.
Actually yes. I already have a plan set, and will be at peace with my decision to sell at that price no matter how much higher the market goes
One of the fun things is that there are no circuit breakers. No market holidays.Imagine if it got to $10M (market cap $200T), and then had a 75% drawdown like the one we've just had.
Even a 75% drawdown from $1m ($15T loss) would cause a few financial ripples.
It can plummet to zero nearly instantly.
But don't worry banks are going to start handing out 30 year mortgages denominated in Bitcoin because the current set of bag holders on the internet want to get rich.
Who wouldn't want to accept an order for a new 747 in a currency whose value is constantly fluctuating by large amounts.
A stabecoin backed by shares in an spy index fund is a much better solution to the problems the crypto crowd say they want to fix.
But that wouldn't make them rich....
Imagine if it got to $10M (market cap $200T), and then had a 75% drawdown like the one we've just had.
Even a 75% drawdown from $1m ($15T loss) would cause a few financial ripples.
A large drawdown in the price of Bitcoin won't do anything to the TradFi systems since there's very little use in the US and Western Countries outside of speculation
why do you think bitcoin has a market cap of 500BB if it’s all smoke and mirrors? Just millions upon millions of “greater fools?”
Imagine if it got to $10M (market cap $200T), and then had a 75% drawdown like the one we've just had.
Even a 75% drawdown from $1m ($15T loss) would cause a few financial ripples.
I love me a good inflammatory 'look at the score board' post!! hahaha
God knows we copped it ourselves there for many months!
Well price history has already proven your market theory flawed when everyone and their grandma wanted to own BTC at 50k. Yes, it went a little higher but has mostly sold off ever since. It only went that high because BTC wasn't as widely exchanged therefore was easier for the big banks and instituitions to take it up too ridiculous prices.
I highly doubt it will ever see close to 70k again now that the fad has mostly dissipated. Not saying impossible, but it would take either a very long time or some extrodinary change in the market structure of bitcoin.
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If BTC becomes one of the biggest assets in the world, then a large drawdown would be a huge worldwide wealth shock. I can't imagine that this wouldn't have a massive impact on the entire financial system.