Expert Predicts Bitcoin Will Reach $1 Million in Future

Bitcoin's price surged past $104,000 this week, rising from $93,000 since May 7, before retracting slightly. Despite a 4% drop in 24 hours, Bitcoin maintained a weekly gain of around 6%. Predictions suggest it could increase tenfold.

Predictions for Future Growth

Muneeb Ali, creator of Starks, predicts Bitcoin will reach $1 million based on its historical price trajectory.
Ali noted the previous jumps: $100 to $1,000, $1,000 to $10,000, and $10,000 to $100,000.
He did not specify factors that would drive this rise.

Short-Term Projections

CoinCodex forecasts Bitcoin could rise to $116,600 by June 8, 2025, reflecting a 13% increase.
Technical analysis indicates a positive trend with 67% of the past 30 days closing positively.
The Fear & Greed Index is currently at 73, indicating Greed, suggesting potential for further price increases.

Impact of Government Legislation

Zack Shapiro from the Bitcoin Policy Institute highlights the Bitcoin Act, proposing the US government purchase 1 million BTC over five years.
The bill suggests funding through gold revaluation profits, potentially increasing demand significantly.
A successful bill could accelerate Bitcoin's ascent to $1 million.

Featured image from Gemini Imagen, chart from TradingView