Will Bitcoin Ever Touch the Million Dollar Mark, Or Is It Just to Lure Investors?

As reported by CryptoNewsZ, “Bitcoin is a polarizing issue where people believe that it will do wonders till the sky, or they believe that it is just a gimmick. While it is safe to say that Bitcoin will do better in the future as it has done in the past, some people make an overoptimistic claim that the apex crypto will touch the million-dollar mark in the next few years.

“So, what’s the truth? Is Bitcoin potent enough to be a million-dollar bet, or is it just a statement to lure investors into keeping the market rolling? Let’s find out:

“If you’re reading, it is a great possibility that you might have witnessed the dream run Bitcoin had in the second half of 2017. From around $2,500 on July 1, 2019, the apex crypto rallied to its all-time high of $19,497 on December 16 of the same year. There were claims from various sections of the industry that a million-dollar mark is the next target, and everyone went gaga over it. However, the story for almost 14 months was extremely disturbing, as Bitcoin nosedived to a devastating $3,500, after losing for six consecutive months.

“During this period, people lost significant wealth, and many crypto companies related to Bitcoin trading had to shut down. These 14 months is considered as one of the darkest bearish markets since of all time. The crypto industry was showered with heavy criticism, from within and outside the industry. Industry stalwarts like Warren Buffett mentioned Bitcoin as ‘rat poison,’ while several other popular names in the financial investment fraternity made similar remarks…”