#MarketPullback Bitcoin could rise to $1 million by 2029 due to increasing demand from exchange-traded funds (ETFs) and governments. This was stated in a comment to Cointelegraph by the head of Bitwise's European research department, Andre Dragosh.

According to him, the growth of institutional adoption of Bitcoin could provide the "structural" capital inflows needed to surpass the market capitalization of gold and raise the price of Bitcoin above $1 million by 2029. The expert added that in the current market cycle, the first cryptocurrency could exceed $200,000 in the base scenario and reach $500,000 with greater adoption by governments.