Why $1 Million Is the New Psychological “Ceiling” for Bitcoin

Why $1 Million Is the New Psychological “Ceiling” for Bitcoin

“Bitcoin is almost $100,000. How much higher can it go? I’m selling today.”

Every morning, I walk to a Starbucks near my apartment in South Florida for a cup of coffee. There’s always a group of guys hanging outside and chatting about the stock market.

But one morning in November, something strange happened. For the first time, I heard them talking about bitcoin.

Naturally, my ears perked up. On that day, bitcoin (BTC) was steamrolling to $100,000. And one of the guys tells the others that he’s ready to sell.

Apparently, he got in at a much lower price and was ready to take some nice profits.

While it’s never a bad idea to take some profits off the table when you’re sitting on massive gains… I wanted to tell him that selling all of his bitcoin right now would likely prove to be a mistake. One he’d regret.

If you’re a longtime reader, you know our research suggests bitcoin could hit $150,000 during this bull cycle… And up to $1 million by the end of the decade.

As much as I wanted to share my research with this random person at a Starbucks, I didn’t want to come off as presumptuous.

He didn’t know me. And you know how most people feel about unsolicited advice…

So I decided to use his story as a cautionary tale for any readers who are considering selling their bitcoin now that it’s crossed the $100,000 mark.

Don’t do it!

In today’s essay, I’m going to do something different.

Instead of sharing a bunch of numbers that explain why I believe bitcoin will move multiples higher than $100,000 in the coming years… I’m going to show you why $100,000 is more of a psychological barrier than a physical barrier for most investors.

In short, it’s all in your mind.

Don’t Let This Bias Affect Your Investment