Bitcoin hitting $1 million would not make list of top 3 historic bull runs

Quick Take

Historical data, as shared by Thomas Fahrer, co-founder of Apollo Sats, illustrates that a future rise of Bitcoin to $1 million would not rank within the digital assets top three bull runs.

Data by Fahrer shows that between July 2010 and Jan. 2011, Bitcoin’s price catapulted from $0.05 to $24, a 480-fold increase. Later, from October 2011 to November 2013, Bitcoin rose from $2 to $1,100, a 550-fold surge. Yet another bull run occurred from January 2015 to December 2017, with Bitcoin growing over 122 times, from $160 to $19,500. The most recent bull run from March 2020 to April 2021 witnessed a less dramatic, but still significant, 16-fold increase, with Bitcoin’s price ascending from $4,000 to $64,000, according to Fahrer.

A hypothetical surge from the bottom of the current cycle at roughly $15,500 in November 2022 to $1,000,000 would constitute a 65 times increase, outpacing the 2021 bull run but falling short of surpassing the top three in terms of returns.

This evaluation suggests that a BTC surge to $1 million, while substantial, would not be an outlier within Bitcoin’s historical performance context, emphasizing the digital assets past ability to yield remarkable returns.

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