What might be the driving force behind the rise of Bitcoin to $1 million?
From 2011 to 2024, the price of Bitcoin has increased 10,000 times. But many people don't know what happened to Bitcoin during this period, so many people don't see what will happen to Bitcoin from $100,000 to $1 million.
Only by understanding and analyzing the past can we have a clear understanding of the future. Only by knowing what happened in the past can we know what will happen in the future. What happened from $10 to $100? What happened from $100 to $1,000?
At today's $100,000, the driving factors are definitely not the same as those from $1,000 to $10,000. So, can you find the reason behind the rise from $10,000 to $100,000 now? If you can, you will most likely find the growth potential of Bitcoin rising to $1 million in the future.
According to last month's data, the number of Bitcoins held by major Bitcoin ETFs has exceeded 1.1 million. This also means that Bitcoin is ushering in a new market environment, no longer dominated by retail investors alone, but by the accelerated influx of institutional investors. The participation of these investment funds and institutions not only promotes the price of Bitcoin, but more importantly, it brings market stability and endorsement from the mainstream financial system.
Water at 99 degrees and 100 degrees seems to have only a 1-degree difference, but it determines the state of the water - boiling; similarly, Bitcoin at $99,000 and Bitcoin at $100,000 seems to have only a 1,000 difference, but it determines the attitude of the market - recognition.
When many people still say that Bitcoin has no national endorsement at all, it proves that they have chosen to stagnate. The real fact is that many countries are slowly letting Bitcoin endorse us, so let's wait and see.
But there are more radical views, predicting that Bitcoin will reach around $250,000 in 2025. However, the general view is that it will not be less than $140,000. Please note that these are all predictions, and before they are reached, just listen to them for fun.
