Is the BTC price going to 1 million dollars?

Since Trump's victory, the price of bitcoin has continued its parabolic rise, with expectations spreading for the relaxation of cryptocurrency regulations and improvements in financial policies.

Arthur Hayes, co-founder of BitMEX, mentioned in a blog post on November 12th that the economic policies of the upcoming Trump administration could push the price of bitcoin to over 1 million dollars.

"It took $4 trillion to reduce the debt-to-nominal GDP ratio from 132% to 115%. Let's assume the USA reduces the debt balance to 70%, which was the level in September 2008. Using linear extrapolation, to eliminate this debt, they would need to create $10.5 trillion in credit. This is how bitcoin will reach $1 million.

Hayes added that with the credit expansion in the USA, investors seeking safe assets like bitcoin are likely to increase.