Experts: The Bitcoin cycle is dead, the Saylor cycle is coming.
Early Bitcoin investor and expert Brad Mills recently made a bold prediction, claiming that 'the Bitcoin cycle is dead' and that the era of parabolic surges and devastating crashes has ended.
Mills states that the market is entering a new 'Saylor cycle' (named after MicroStrategy's founder Michael Saylor), and investors should be prepared for Bitcoin's potential 100-fold increase.
He uses the structure of the S&P 500 during the era of quantitative easing (QE) as an example, pointing out that when the Federal Reserve becomes the 'greedy buyer' of government bonds, the magnitude and duration of market pullbacks are shortened.
Mills believes that Bitcoin, as a scarce asset, also faces 'greedy' demand, and will still follow the development model of the Saylor cycle even in extreme situations that may trigger debt deflation, such as an AI singularity or a third world war.
Source: X
Bitcoin has huge growth potential, with institutional demand continuing to rise.
According to a report by (CoinPost), Mills discussed the trends of Bitcoin during periods of debt deflation in detail in his 2023 analysis.
He points out that Bitcoin's market value of $500 billion is only held by about 1% of the global population, in contrast to Americans holding $30 trillion worth of stocks, indicating that Bitcoin still has significant growth potential.
He predicts that during a decade of deflation, the market value of Bitcoin could grow to $10 trillion, and even if the money supply decreases, its value will still rise when hundreds of millions or even billions of people start acquiring and storing Bitcoin.
Bitcoin co-founder Adam Back also agrees with Mills' analysis, stating that the market is in a transition period of 'parabolic breakout,' where the S-curve will become steeper, potentially invalidating the diminishing returns theory, power laws, and the S2F model.
Source: X
However, on-chain detective ZachXBT has raised concerns about the 'reckless' short-term purchases of Bitcoin and altcoins by small public companies, questioning their sustainability.
Source: X
Economists predict that Bitcoin will rise to $1 million by 2027.
Although Mills' 100-fold prediction implies Bitcoin will reach $10 million, there are also more conservative predictions in the market.
The non-profit organization 'Satoshi Action Education' advisor, economist Murray A. Rudd, and others published a paper in January this year predicting that in an optimistic scenario, Bitcoin could reach $1 million by early 2027.
The Bitcoin supply-demand balance model revealed in the paper shows that the total amount of Bitcoin is 21 million, with 93% already mined, and the remaining supply of about 1.65 million will have a significant impact on the price.
In addition, 17% of all Bitcoins have not moved for more than 10 years, and 29% have not moved for 3-10 years, with the actual circulating supply being only about half of the total amount.
Economists predict that under conservative scenarios, if 2,000 Bitcoins exit the market daily, the price could reach $1 million by fall 2028; in an optimistic scenario with a significant increase in institutional investors, this target could be reached as early as early 2027.
The most optimistic prediction suggests that if the daily circulating supply continues to decrease by more than 1,000 Bitcoins, the price of Bitcoin could reach $5 million by early 2031.
Further reading:
Will quantum computing threaten Bitcoin? MicroStrategy: It will upgrade every year, but reports say the crypto community is unprepared.
MicroStrategy launches preferred stock products! Continuing to raise funds to buy Bitcoin, why is the community not buying this time?
This content is compiled by Crypto Agent from various sources and reviewed by (Crypto City); it is still in the training stage and may contain logical biases or informational inaccuracies. The content is for reference only and should not be considered as investment advice.
'The Bitcoin cycle is dead; the Saylor cycle is coming! Experts say BTC is expected to rise another 100 times.' This article was first published in 'Crypto City.'
