Selling Bitcoin at $54K Will Haunt You When It Hits $1 Million, Top Analyst Warns

Scott Melker, widely known as “The Wolf of All Streets,” has shared a bold prediction regarding Bitcoin amid ongoing price fluctuations. 

According to Melker, Bitcoin could potentially reach $1 million by 2030. In a reflective take, he expressed how many investors might look back and regret their short-term decisions.

Specifically, Melker highlights the common tendency to panic over smaller price drops, like Bitcoin’s movement from $57,000 to $52,000 this month. However, in his view, those who sell too early will look back in regret when they see Bitcoin at $1 million per coin while they had sold at $52K.

Melker’s commentary calls investors to focus on the broader picture rather than reacting to short-term fluctuations. His advice encourages investors to maintain a long-term mindset, emphasizing patience and trust in Bitcoin’s sustained rise over the next decade.

Notably, Bitcoin would need to rise by approximately 1,723.92% to reach the price of $1 million from its current price of $54,827.

Mixed Reactions from the Crypto Community

In response to Melker’s projection, several commenters shared their thoughts on Bitcoin’s future. One individual expressed concerns about inflation, suggesting that by 2030, utility bills could soar by 500%, potentially diminishing Bitcoin’s $1 million value.

Another commenter shared this concern, positing that while Bitcoin might reach $1 million, hyperinflation could erode that value to just $50,000.

Further skepticism came from another commenter who speculated that Bitcoin’s price could be influenced by ETFs from BlackRock and government regulations, predicting it might hover around $70,000 by 2030 due to such speculative controls.

Meanwhile, analyst Nebraskangooner made a humorous comment, suggesting XRP would be the better investment by 2030.

Other Analyses Suggesting $1M Bitcoin

The $1 million prediction aligns with other analyses that suggest Bitcoin could experience significant long-term growth. A June report highlighted chart data indicating that Bitcoin might replicate past price spikes similar to those observed between 2013 and 2017.

Starting from a low of $162 in 2015, Bitcoin embarked on a substantial upward trajectory, eventually achieving new all-time highs.

Elsewhere, ARK Investment Management also predicted that Bitcoin could surpass $1 million by 2030. The firm’s report indicated that Bitcoin’s adoption as legal tender in countries like El Salvador could contribute to its increased market value.

Additionally, Bitcoin’s network has expanded significantly, now processing daily on-chain volume exceeding $46 billion—comparable to Visa’s settlement volume—which supports the optimistic projections for BTC.