According to anonymous Bitcoin analyst PlanC, the journey of Bitcoin towards $1 million per coin may be slower and less dramatic than many participants in the crypto market expect.

"What if, from now on, Bitcoin just slowly moves up and to the right, accompanied by long, drawn-out, mundane 10-30% pullbacks and consolidations?" PlanC speculated in a post on the X platform on Sunday.

PlanC added, "On the contrary, we are just slowly moving up to $1 million in a very boring and disappointing way over the next seven years." He noted that Bitcoin is gaining increasing acceptance and adoption within the traditional financial system and among major institutional players.

PlanC stated that whenever Bitcoin's price consolidates for a long time, people believe the cycle is over and expect prices to drop by as much as 80% so they can buy the asset at a cheaper price, but this has never happened.

For months, the industry has been debating whether the demand for spot Bitcoin ETFs and the growing treasury has completely disrupted Bitcoin's four-year cycle.

However, not everyone agrees with PlanC's viewpoint.

Samson Mow, founder of Jan3, predicts that Bitcoin will soon see an "Omega candle," with a single-day price surge of $100,000. Mow told the magazine in June that Bitcoin reaching $1 million "is inevitable at this point, maybe this year, maybe next year."

However, PlanC's steady upward forecast suggests that Bitcoin will reach $1 million by 2032, which is slightly later than some other industry executives' predictions.

Coinbase CEO Brian Armstrong recently predicted a seven-figure target by 2030, while Eric Trump recently stated that BTC reaching $1 million in the next few years is "undoubtedly" possible.

Others believe that Bitcoin reaching $1 million too quickly would be a bad omen. On August 17, Galaxy Digital CEO Mike Novogratz stated that Bitcoin reaching $1 million next year would signal a severe downturn in the U.S. economy.

Novogratz said, "To those cheering for Bitcoin to hit $1 million next year, I want to say, guys, it will only get there when our domestic situation is that bad."

Swyftx chief analyst Pav Hundal told Cointelegraph on Tuesday, "Everyone hopes that the narrative around smaller pullbacks makes sense."

Hundal said, "Corporate treasuries, institutional trading desks, and even sovereign buyers are creating a stable demand base." He explained that, theoretically, structural buying should be able to smooth out extreme volatility.

But he warned that the market is still in uncharted territory. He said, "We don't know how the market will respond to pressure." "Treasury buyers are not immune to traditional market forces."

"In fact, many of them rely on credit. If credit spreads widen and risk indicators fluctuate—as healthy markets should—those same strong hands could quickly turn into forced sellers."

Related: As whales turn to Ethereum (ETH) and UK bonds soar, can Bitcoin (BTC) hold above $109,000?

Original article: “Analyst Claims Bitcoin (BTC) Path to $1 Million May Be ‘Very Boring’”

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