The possibility of Bitcoin reaching $1 million is being increasingly discussed in the markets. Analysts claim that based on Dogecoin’s past bull market performance, it has a much higher potential for a rise than Bitcoin.

Predictions suggest that Bitcoin could reach $1 million by the year 2030. However, according to an analysis by investment firm Bernstein, Bitcoin reaching this level might not happen until the year 2033. If these levels are achieved, the market value of the leading crypto could surpass $20 trillion, exceeding the total value of the current gold market. Dogecoin (DOGE), which has long been moving in the crypto market in a speculative manner, continues to be positioned in the eyes of investors as an alternative to Bitcoin, even as a wild card. DOGE, which often accompanies the rising waves of Bitcoin prices, has recently been regaining the attention of investors with community support and market excitement. While analysts focus on the possibility of Bitcoin reaching a valuation of $1 million over the next decade, speculation about Dogecoin’s potential peak is also increasing.

The current price of Bitcoin hovering around $96,000-$97,000 and predictions by some experts that it could reach much higher levels in the coming years are creating great expectations in the markets. Additionally, the positive outlook towards digital currencies, especially Bitcoin, that is known to be held by Donald Trump’s reelection as President in the US, has further increased the positive expectations for the leading cryptocurrency. Highlighting these positive expectations are two experienced business individuals, Jack Dorsey and Robert Kiyosaki, as well as Daniel Roberts, founder and CEO of IREN, a publicly traded Wall Street Bitcoin mining company, who mentioned that the interest of institutional investors in Bitcoin is growing, expressing the increasing importance of digital assets as a store of value. According to Roberts, the demand for Bitcoin ETFs and large companies starting to add BTC to their portfolios could lead to record price levels in the coming years. Roberts, speaking to Australia-based Livewire Markets, stated, “Considering Bitcoin’s historical price trend and the momentum in institutional investments, I would be surprised if we do not reach $1 million by 2030.”

Connection Between Bitcoin and Dogecoin
If Bitcoin reaches $1 million, a widespread rally is predicted to occur in the crypto market. Historical data shows that when Bitcoin rises, altcoin markets record higher percentage increases. Based on this data, it is suggested that popular altcoins like Dogecoin have the potential to rise at a much higher rate than Bitcoin. In a manner supported by past data, Dogecoin has performed better than Bitcoin in past bull markets. For example, while Bitcoin rose by more than 100% last year, Dogecoin saw an increase of over 200%. If a similar trend continues, it is believed that Dogecoin could provide higher returns than Bitcoin in a new bull run.

Possibility of a New Rally for Dogecoin
The price increases of Bitcoin continue to serve as a catalyst for popular altcoins like Dogecoin. The general belief in the market is that if Bitcoin, currently trading around $97,000, were to rise by 900% to reach $1 million, Dogecoin could show an even higher rate of increase. However, it should be remembered that the price movements of Dogecoin are largely dependent on community interest and market sensitivity. Considering how the value of DOGE has multiplied with tweets by Elon Musk in 2021, it is thought that similar social media influences could continue to direct its price in the future. While making a precise prediction about the levels Bitcoin will reach in the coming years is difficult, speculative assets like Dogecoin continue to attract investors with the possibility of providing significant gains.