Here is the Dogecoin price if Bitcoin hits $1 million as predicted by Bernstein

Dogecoin shows promising potential in a market where Bitcoin is trading in the million-dollar price range.

Over the past few weeks, Dogecoin has effectively capitalized on Bitcoin’s momentum in the ongoing bull market. At press time, Dogecoin is trading above $0.42 after a 213% price rally over the past four weeks.

Meanwhile, Bitcoin’s value has increased by 45% during this period, hovering around $97,000. With Bitcoin expected to cross the $100,000 mark in the coming days and potentially reach even higher price ranges, market participants, especially retail investors, are increasingly paying attention. take a stand in Dogecoin to benefit from market dynamism.

One of the most ambitious price levels predicted for Bitcoin is the $1 million range, as predicted by several industry experts, including Bernstein.

Now, The Crypto Basic examines the potential price outlook for Dogecoin if Bitcoin hits $1 million, as widely expected.

Industry Predictions for Bitcoin Hit $1 Million

In June, Bernstein predicted that Bitcoin could reach $1 million by 2033, with a peak of $200,000 by 2025. This prediction was part of a research report on MicroStrategy, the largest company holding Bitcoin.

Similarly, financial author Robert Kiyosaki has argued that Bitcoin could reach $1 million before the end of this decade.

Notably, Bitcoin is currently trading at $97,100. To reach $1 million, assets would need to increase by 930%, or 10 times. At this price, Bitcoin would have a cap of around $20 trillion, which far exceeds the current valuation of gold. Essentially, at $1 million per coin, Bitcoin could become the most valuable asset in the world.

With this feat, the altcoin market is expected to benefit significantly. Specifically, if Bitcoin alone reaches a market cap of $20 trillion, the altcoin market could be valued similarly, potentially pushing the overall crypto market to around $40 trillion.

Dogecoin price if Bitcoin hits $1 million

It is difficult to estimate the precise value of Dogecoin if Bitcoin reaches $1 million. However, assuming price growth proportional to that of Bitcoin, a 930% increase from Dogecoin’s current value of $0.4250 would raise its price to around $4.38.

While this is a rough estimate, it likely underestimates Dogecoin’s potential in a market where Bitcoin is worth $1 million.

Some market analysts believe that even a price of $10 for Dogecoin is possible in the current market season, let alone by 2033, when Bitcoin is expected to reach $1 million.

Additionally, Dogecoin has historically outperformed Bitcoin by a wide margin. For example, Bitcoin is up 131% over the past year, while Dogecoin has surged 380% over the same period.

This suggests that instead of simply mirroring Bitcoin’s 930% growth to $1 million, Dogecoin could see four times growth, potentially taking its price to almost $20.