With the token enjoying a thriving year alongside the crypto market, Bitcoin has been predicted to reach a high of $1 million over the next four years by a new BTC model. Indeed, the Bitcoin Power Law by Giovanni Santostasi notes that the token’s immense potential will be clear over the next several years.
An interesting tidbit about the model is its view of Bitcoin’s floor. Specifically, it notes that BTC will never fall to $30,000 again. Moreover, it says that a ‘fair price’ trajectory is at $86,000 with a ceiling of $330,000. With its current performances and political relavence, those estimations certainly appear possible.
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BTC Targets $1 Million by 2028: Is it Possible?
Bitcoin has been a focal point of finance in 2024. The asset became the first crypto-based ETF in the US after a January approval. Just three months later, it surged to a landmark price of $73,000. Now, it continues to find avenues of prevalence in the political landscape due to its impressive performances.
One Bitcoin model suggests that the leading crypto could reach $1 million in the next four years, with BTC set to undoubtedly reach a new all-time high soon. The Bitbo chart shows a linear regression used to establish supports and resistance bands.
The model predicts that BTC should reach $100,000 before 2028. In the next five years, it forecasts Bitcoin to not fall below that figure. Moreover, it further predicts that the $1 million price point will occur in a nine-year window between 2028 and 2037.
Also Read: BITCOIN Act Introduced by US Senator to Establish BTC as Reserve
Although it has reversed love in the last 24 hours, the token is still up more than 121% from this time last year, according to CoinMarketCap. It has increased more than 2% in the last month, currently trading at $63,800. The presence of a Bitcoin ETF should drive the price, but so too should its potential government integration.
Donald Trump has already called on the US to become a Bitcoin powerhouse. Moreover, he discussed using the crypto as a strategic reserve asset. His position preceded US Senator Cynthia Lummis’s introduction of the BITCOIN Act. The legislation would require the US to purchase a million BTC in a specified timeframe.