Following the market crash driven by the global COVID-19 pandemic last March, Bitcoin has managed to rise from the ashes and has once again stood firm above the $10K mark. Despite the ups-and-downs and countless controversies surrounding the most recognizable crypto, Bitcoin has kept its positive momentum. This is largely thanks to the need to accumulate reserves and the still surging DeFi sector. Although a tad bit slower, Bitcoin is still on track to surpass new highs, and thus, Pal’s prediction.
At first, such a lofty prediction may sound absurd. However, Pal isn’t alone with this Bitcoin to $1M stance. Other noteworthy analysts, which includes Willy Woo, also believes that Bitcoin is set to break away from the conventional asset correlation and is on its way to forge its very own path. They believe that it is only a matter of time wherein Bitcoin may prove more valuable than gold.
With all that in mind, it is still important to remember that Bitcoin, as an asset, is still relatively young and volatile. There is no telling where the crypto would be for sure – everything will remain as predictions and speculations. That being said, Bitcoin reaching a market value of $1M is indeed plausible, but no one should bet a life on it.