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Markus Thielen, founder of 10x Research, has stated that Bitcoin reaching a price of $1 million per coin by 2030 is "mathematically impossible." Thielen argued that the immense capital inflows required to support such a valuation would reach tens of trillions of dollars, an amount he considers unrealistic for the global financial ecosystem within that timeframe. This counter-narrative challenges highly bullish long-term forecasts from prominent industry figures and investment firms. For crypto markets, such analyses highlight the growing shift toward valuation models based on realistic liquidity flows rather than purely speculative projections. Market participants often re-assess their long-term positionings and portfolio allocations when presented with rigorous quantitative arguments. Moving forward, traders and investors will be closely watching macroeconomic indicators, institutional ETF inflows, and overall liquidity conditions to gauge Bitcoin's sustainable growth trajectory. While long-term mega-bullish price targets remain popular in headlines, short-to-medium term price action will likely depend on broad market liquidity and interest rate expectations.
