The very first cryptocurrency, Bitcoin (BTC), was seen struggling after witnessing one of its best years yet. The king coin managed to surge all the way to a new peak of $108,268.45 in December 2024. While the community is optimistic about BTC’s rise this year, a few others remain skeptical as the asset has sunk below the $100,000 mark. Amidst this, a prediction by a prominent analyst revealed that the king coin could surge to seven figures in the near future.
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Bitcoin To Hit $1.5 Million In 2035
Timothy Peterson, a network economist and the author of the study “Metcalfe’s Law as a Model for Bitcoin’s Value,” set a price target of $1.5 million for Bitcoin. The analyst took to X and shared this extremely optimistic prediction with the community. Peterson projected that Bitcoin could reach a massive $1.5 million in ten years, citing his own model that places network expansion at the core of the cryptocurrency’s future value proposition.
Peterson has time and again shared bullish predictions for the world’s largest cryptocurrency. For instance, in 2020, Peterson’s Lowest Price Forward indicator accurately forecasted that the price of BTC/USD would never go below $10,000 again.
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Looking Into The Current Market Scenario
Bitcoin, at the time of writing, was trading at $94,092.19. The king coin is 13% below its all-time high. In order to reach $1.5 million, the world’s largest cryptocurrency will have to rise by 1,493.91% from its current price level.
While a growth of this magnitude seems uncertain at the moment, BTC’s history says otherwise. The asset has surged by more than 193312542.23% since its all-time low in 2010. This was about 14 years. With Donald Trump coming into power and more institutional interest in the king coin, the above-mentioned target could be a cakewalk for the asset.
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