Saying Bitcoin can achieve $1mln price in 90 days is pure hopium, stupidity or even worse just a manipulation. It is impossible, and by impossible I mean not just hard to do, straight impossible if you have even slightest knowledge about general economy and crypto market caps.
Here is some math: Now BTC marketcap is bit over 540 bln with current price $27.9k, so to achieve $1mln we would have to do x35.84 in less than 90 days. Is doing almost x36 in 90 days in crypto possible? Sure with small caps even x1000 is possible, but they go from few thousands to millions dollars marketcap, not from billions to trillions. You remember million vs billion seconds quote? Millions seconds ago was 12 days ago, billion second ago was 1992 (31 years ago). Let me add that trillion seconds ago 31,700 years ago. So trillion is unimaginable amount of time or in our case money. 20 trillion is x20 times more than that...
If BTC would do x38.84 it's marketcap would be 19.35 trillion dollars. That woud mean necessity to find somewhere 19.35 trillion dollars... According to the Bank of the International Settlements from year 2021 whole cash on earth is equal to just 8.28 trillion dollars... So you want to invest all cash on earth and non existing 11 additional trillions into BTC. Congrats you outdone even the Fed, they just wanted to print 2 trillions, you want to print 11 trillions. Ofc having market cap bigger than amount of cash is possible, for example whole stock marketcap on earth is worth 83 trillions, but most of those money aren't real, just valuation based on companies and things they produce and hold. Typical company stock share is based on P/E (price to earning ratio), which basically mean stock shares price is multipled in comparation to yearly profit. Usually average P/A is 15 to 25. Which historically mean stock companies value is based on x15 to x25 of current yearly profit. Current P/A on avarage in stock market in march 2023 is x23.2, so it mean those 83 trillion are based on next 23 years, not just now and here... With $1mln BTC you won't have P/A ratio, cause Bitcoin is not stock company, it's value is here and now, so $19 trillion BTC would in reality be much more than 83 trillion in stocks.
Additionaly Bitcoin doesn't move alone, whole market follow him. $19 trillion pumped in to just BTC is impossible. Do you really imagine BTC pumping to $1mln while ETH stay at just $1.76k? What about other coins? According to CoinMarketCap current marketcap of whole crypto is 1.17 trillion dollars. 1.17 trillion divided by BTC's marketcap mean x2.16. So Crypto market cap is x2.16 times bigger than BTC marketcap, which mean to pump BTC to $1mln we would need not just $19 trillion but over $40 trillion. Even if we would magically assume BTC dominance would grow more, it still would still be at least 5 to 10 trillion additional dollars.
Is $1 mln BTC totally impossible then? No of course not, inflation and printing devaluate money, $1 mln BTC in 10 to 20 years from today is not impossible by any means. But in just 90 days? No way. It never happened before and nothing suggest it will happen now except one guy making a silly bet and some people in crypto space repeating that cause they have no idea what marketcap is. Unless in next 90 days whole world including all 8 billion people and all 193 world governments adopt BTC nothing even close to $1 mln will be possible.
So stop spreading false information or following your FOMO, instead listen to hard facts and math.
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SOURCE: REDDIT
