The possibility of Bitcoin reaching $1 million is increasingly being discussed in the markets. Analysts suggest that based on Dogecoin’s performance in past bull markets, it has a higher potential for growth compared to Bitcoin.

Bitcoin is anticipated to reach $1 million by the year 2030. According to an analysis by investment firm Bernstein, Bitcoin might not reach this level until 2033. If Bitcoin does reach these levels, the market value of the leading crypto could surpass $20 trillion, leaving the total value of today’s gold market behind. Dogecoin, which has long been moving speculatively in the crypto market, continues to be positioned in investors’ eyes as an alternative to Bitcoin or even, so to speak, a wildcard. Often accompanying the waves of price increases in Bitcoin, DOGE has recently regained the attention of investors with community support and market excitement. While analysts focus on the possibility of Bitcoin reaching a valuation of $1 million within the next ten years, speculation about Dogecoin’s potential peak is also growing.

With Bitcoin’s current price hovering around $96,000-$97,000 and predictions from some experts that it could reach much higher levels in the coming years, a great expectation is forming in the markets. Additionally, the re-election of Donald Trump as president in the U.S., known for his positive outlook on digital currencies, has further increased positive expectations towards the leading cryptocurrency. Two experienced business people reflecting these positive expectations, Jack Dorsey and Robert Kiyosaki, as well as the founder and CEO of publicly traded Wall Street Bitcoin mining company IREN, Daniel Roberts, emphasize that interest in Bitcoin by institutional investors is increasing, highlighting the importance of digital assets as a store of value. According to Roberts, demand for Bitcoin ETFs and the beginning of large corporations to add BTC to their portfolios could lead to record price levels in the future. Speaking to Livewire Markets based in Australia, Roberts stated, “Considering Bitcoin’s historical price trend and the momentum in institutional investments, I would be surprised if we didn’t reach $1 million by 2030.”

Connection Between Bitcoin and Dogecoin
If Bitcoin reaches $1 million, a widespread rally in the crypto market is predicted. Historical data shows that when Bitcoin rises, altcoin markets record higher percentage increases. Based on this data, it is suggested that Dogecoin, one of the most popular altcoins in the market, also has a higher potential for increase than Bitcoin.

Supported by past data, Dogecoin has outperformed Bitcoin in previous bull markets. For example, while Bitcoin rose by over 100% last year, Dogecoin recorded an increase of over 200%. If a similar trend continues, it is believed that Dogecoin could provide higher returns compared to Bitcoin in a new bull run.

Possibility of a New Rally for Dogecoin?
Bitcoin’s price hikes continue to serve as a catalyst for popular altcoins like Dogecoin. The general consensus in the market is that if Bitcoin were to increase by 900% from its current $97,000 to $1 million, Dogecoin could show a much higher rate of increase.

However, it should not be forgotten that Dogecoin’s price movements are largely dependent on community interest and market sensitivity. Considering that the value of DOGE soared due to Elon Musk’s tweets about it in 2021, similar social media influences are thought to be able to influence the price in the future as well. While making a definitive prediction about the levels Bitcoin will reach in the coming years is difficult, speculative assets like Dogecoin continue to attract attention for their potential for significant gains.