Bitcoin to $1M? Expert Predicts 'Pump' & 'Consolidate' Pattern

Despite a dip to $75,000 in March 2025, Bitcoin has defied expectations, hitting new all-time highs, with the current record around $122,800. Now, some experts believe a seven-figure BTC valuation is on the horizon.

Bitcoin's Path to $1 Million: A Decade-Long Journey?

Blockware Bitcoin analyst Mitchell Askew, in a recent post on X, joins the growing chorus predicting Bitcoin will reach $1 million within the next 10 years.

Askew suggests the era of extreme bull and bear markets might be ending for Bitcoin. He notes a significant difference in Bitcoin's behavior before and after the introduction of spot ETFs in the United States.

Askew anticipates Bitcoin will reach $1 million through consistent cycles of "pump" and "consolidate." He added:

It will bore everyone to death along the way and shake the tourists out of their positions.

This aligns with the idea that the traditional Bitcoin cycle theory is outdated, thanks to institutional investment via spot ETFs, potentially mitigating severe bear markets.

Bloomberg ETF Analyst Backs the Theory

Bloomberg ETF analyst Eric Balchunas supports Askew's analysis, pointing to decreased volatility and fewer corrections since BlackRock's spot BTC ETF filing.

Increased stability attracts institutional players, but Balchunas notes that rapid surges might be less frequent.

Bitcoin has traded sideways recently, between $120,000 and $115,000. Currently, Bitcoin is valued at approximately $117,900, up 0.4% in the last day.

Disclaimer: This is not financial advice. Cryptocurrency investments are risky and you may lose your investment.