Retail investors can push Bitcoin past $1 million if adoption reaches new heights. We need to understand that 99% of the world still doesn’t know or own Bitcoin. But it is still trading at $45,000 at the time of writing this article. And considering that the main advantage of Bitcoin is its limited nature, adoption will be the key to reaching $1 million per coin and even higher. Even Michael Saylor, who is known for his continuous BTC purchases, gave a price target of $1-$5 million per coin.
How can we get there?
It is not that difficult if you see. We are hardly 2-3 more cycles away from $1 million per coin, considering the previous bull runs. But in 2021, the bull run is different; do you know why? This is because all major institutions and banks are coming forward to accept crypto as the future. Blockchain is being treated as a valid way to solve problems, and banks are working on their own CBDCs.
Unlike last bull runs, this time around, the institutional buying didn’t go down significantly even after the price saw a plunge. And as we are going up again, a large number of Bitcoins are being pulled off exchanges every single day. So, even if we don’t do anything the $1 million target is just a matter of time. But if you want to do your part then talk about BTC, create awareness about what it really is and it’s future.
If you have been holding it for a long time show your portfolio to make people understand what kind of potential it has in the long run. One point you can talk about would be the unlimited price it could have. Since BTC is measured in terms of dollar which is inflationary, this automatically gives BTC the option to go up endlessly.
Hold and chill!
In short term, you will be seeing a lot of ups and downs and we could go much lower or higher no one knows. The best thing to do here and to tell others is to implement a DCA strategy and chill. Starting a SIP in Bitcoin is a good idea if you are thinking of minimizing your risks and make good profits as well. Remember that no one can time the market perfectly so it’s best not to take too much pressure.
What are your thoughts on the idea that Retail investors can push Bitcoin past $1 million? And is it practical or just too optimistic? Let us know in the comments below. Also, if you found our content informative do like and share it with your friends.