Cryptocurrency enthusiasts and investors seem to be very bullish about the future of the cryptocurrency market. In a recent poll conducted by the crypto trader Magic Poop Cannon, 72% of respondents believe that Bitcoin (BTC) will surpass $20,000 in the long-term. 42% of the respondents said that Bitcoin would grow up to $100,000 and eventually reach $1 million.
Could Bitcoin Reach $1 Million?
In a recent tweet poll, Magic Poop Cannon, almost 3,000 votes gave their opinion regarding the future of the crypto market. 72% of the respondents mentioned that Bitcoin is going to be traded above $20,000 in the long-term.
This is very bullish for Bitcoin, a digital asset that has been in a bear trend since December 2017. At that time, Bitcoin was traded close to $20,000 but then it dropped down to $3,250 just a few months ago. That represents an 80%+ decrease in over a year. The whole cryptocurrency market has been affected. There are several digital assets that lost more than 90% of their value.
Magic Poop Cannon is a professional trader that gives his views on the crypto market. He predicted back in May that Bitcoin was going to be falling under $6,000. He has also mentioned that Bitcoin has already bottomed and that there will be a period of accumulation before the start of a bull market. Check his previous analysis that turned out to be true
The trader said that he sees Bitcoin going to $100,000 and it could eventually reach $1 million. About it, he commented:
“For my long term view, I see Bitcoin going to at least $100,000 within four years. I think it could even reach $150,000 in that time. Eventually, I believe it could surpass $1,000,000. Where do you see BTC going in the long term?”
For my long term view, I see Bitcoin going to at least $100,000 within four years. I think it could even reach $150,000 in that time. Eventually, I believe it could surpass $1,000,000. Where do you see BTC going in the long term?
— MAGIC (@MagicPoopCannon) February 26, 2019
There are other analysts and crypto experts, such as John McAfee, that have also predicted Bitcoin to reach these levels. For example, Mr. McAfee said that Bitcoin is going to reach $1 million before the end of 2020.
Mark Jeffrey, the author of the crypto book “Bitcoin Explained Simply,” expects Bitcoin to be traded close to $250,000 in the future.
At the time of writing this article, Bitcoin is being traded around $3,881. It also has a market capitalization of $68.18 billion.