Michael van de Poppe: Bitcoin Could Reach $1 Million

Crypto analyst Michaël van de Poppe claims that Bitcoin could reach $1 million in the current cycle, drawing a parallel with the dot-com boom of the late 1990s. On October 17, 2026, he published a chart from Rand Group, where five previous Bitcoin bottoms align in a straight line. Even a conservative bearish scenario based on this projection suggests around $197,000 by 2030, which is above the current price. "If the projection is correct and we see a major rally... the next major crash would be an 80% market correction. This would mean that $1,000,000 for Bitcoin is possible," van de Poppe wrote.

The idea relies on a historical precedent: the dot-com era saw explosive growth in tech stocks before a sharp downturn, but the infrastructure continued to expand. Van de Poppe envisions a similar path for Bitcoin—a parabolic rise followed by a deep correction.

According to BeInCrypto, in mid-October 2026, BTC is trading around $81,000 with a market capitalization of approximately $1.63 trillion—36% below the all-time high of $126,080 from October 6, 2025.

He is not alone. Bitwise's Chief Investment Officer Matt Hougan believes Bitcoin could reach $1 million by capturing a larger share of the savings market, currently divided between gold and government bonds. Galaxy Digital's CEO Mike Novogratz has spoken of a similar target if young investors and institutions shift from gold to Bitcoin—this would result in roughly a tenfold increase from recent levels. Coinbase CEO Brian Armstrong and former BitMEX CEO Arthur Hayes have also mentioned $1 million as achievable this decade.

However, there are opposing forecasts. Bloomberg Intelligence analyst Mike McGlone has suggested that Bitcoin could fall to $10,000. Critics note that such forecasts often rely on repeating historical patterns that may not hold. Such targets should be weighed against current prices and the risk of deep downturns: history shows that parabolic rises are often followed by sharp corrections.