Could Bitcoin Hit $10 Million Dollars? According to a report by asset management firm Lucid, the answer could be yes. With world debt currently at 394 per cent, and wealth trailing behind at 133 percent, they maintain that it is an unsustainable situation.
If Bitcoin price reaches $10 million dollars, as Lucid predicts, it has this potential. They say that: ‘at that level, Bitcoin would provide a sufficient reserve to alleviate the world debt…it would be worth between $180 and $210 trillion’, and given the rate of it’s growth over the past 20 years, it ‘would represent a 40% reserve against the debt’.
If all the big players were to invest – major investors, governments, and countries, Bitcoin could potentially reach this mark, according to Lucid, and go on to solve world debt.
Cryptocurrency Market Trends VS Traditional Market Trends
It is well known that general market trends tend to go the way cryptocurrencies have. There is a lot of talk on this subject at the moment, following the huge bull market of 2017 and early 2018 and the crash we were subjected by the close of 2018, leading to yearly lows and huge discussion about the future of the industry.
Huge success, followed by a huge slump, followed by a re-invention (triggered by a dose of reality), and then a steady climb up to success is the trend of many markets, including, at the moment, major ones like Apple, who have seen their shares drop drastically this year.
Imminent Cryptocurrency Re-invention And Uprising – Can Bitcoin Reach $10 Million Dollars?
Lucid suggest that the upcoming re-invention and rise of cryptocurrencies could be imminent, and that ten million dollars is a possible target for Bitcoin. Although they believe that the World is unlikely to take on Bitcoin as a saviour for World debt, it is possible.
They say that the other potential solutions we might see are: economic growth, complete default on sovereign debt, or the introduction of a new commodity or currency basket. They also maintain that Bitcoin could provide a ‘permanent fix’ to the problem, whereas the other solutions would not.