Bitcoin to $1 million? Analyst sees striking parallel with dotcom bubble
Can the Bitcoin price rise to 1 million dollars? According to this analyst, yes. And how and why? He explains that, of course.
Crypto analyst Michaël van de Poppe thinks that Bitcoin (BTC) can rise this cycle towards 1 million dollars. His main argument is a comparison with the dotcom bubble at the end of the nineties.
According to Van de Poppe, Bitcoin can first show a spectacular acceleration, before a heavy correction follows later.
During the dot-com period, technology shares rose extremely sharply for years. Valuations eventually got completely out of step with the fundamentals, followed by a huge crash in 2000.
Nevertheless, the underlying infrastructure continued to grow afterwards. Van de Poppe thinks that Bitcoin can follow a similar pattern. First a parabolic increase, then a deep correction.
A chart on which multiple historical Bitcoin bottoms are laid along the same trend line even comes out at a relatively conservative level around 197,000 dollars in 2030. A temporary overshoot towards $1 million could come on top of that, according to him.
That sounds extreme, especially given the current course. Bitcoin trades around $82,000, about 35 percent below the October 2025 record of $126,000. For a rate of 1 million dollars, therefore, more than a twelve-fold increase is still needed from here.
Van de Poppe is not alone, however. Bitwise CIO Matt Hougan thinks Bitcoin could move toward $1 million if it captures a larger share of the global value storage market.
Galaxy Digital CEO Mike Novogratz also sees a similar scenario when younger investors and institutional parties shift capital from gold to Bitcoin.
Brian Armstrong of Coinbase and Arthur Hayes also mentioned a seven-digit Bitcoin price as a possibility this decade.
The comparison with the dotcom bubble also has a less attractive component. Historically, parabolic increases often end in deep crashes.
So, if Bitcoin is indeed following a dotcom-like scenario, $1 million could not only be an extremely bullish price target, but also the level at which the next huge correction begins. Are you ready for that roller coaster ride?