Analysts suggest that with 10% global adoption, Bitcoin’s price could reach $3 million, highlighting that market cap follows price.
The analyst’s projection aligns with Bitcoin’s historical growth and positions it as a low-risk, high-reward asset.
The world’s largest cryptocurrency Bitcoin (BTC) has been consolidating around $34,500 levels after gaining strong momentum from the Bitcoin ETF developments. However, this hasn’t stopped analysts from giving parabolic price targets for the asset class.
Popular crypto analyst Luke Broyles explained how the Bitcoin price can rally all the way up to $3 million, which is nearly 100x from the current levels. The analyst explains that in 2023, Bitcoin has sustained a market capitalization of approximately $500 billion USD. While it has outperformed as the best-performing asset globally this year, with gains exceeding 100%, it remains relatively small when compared to the world’s largest asset classes.
Understanding Bitcoin’s Adoption

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