# Bitcoin price near $64,000 as analysts still predict $1 million target

**Published:** 2026-08-12T02:45:41.084Z  
**Topic:** Bitcoin  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/fc682a91-5435-4af6-a8c3-8547b44b4cef

Bitcoin trades around $64,000 after a 50% drop from its $126,000 peak; analysts from Saylor, ARK and Bitwise still see $1 million possible, with timelines and

Bitcoin is hovering near $64,000, roughly half its October all‑time high of $126,000, while a handful of high‑profile analysts continue to project a $1 million price target under various growth assumptions【3】.  

| At a glance | |
|---|---|
| Price | $64,000 (approx.) |
| 24h change | Down ~50% from $126,000 peak |
| Key level | $60,000 floor cited as support |
| Catalyst | Institutional inflows, ETF activity, long‑term growth assumptions |

## Recent price action and immediate drivers  
The cryptocurrency’s price settled around $64,000 after losing roughly half its value since the October peak, a level that analysts say is anchored by a “floor” near $60,000【1】.  Spot Bitcoin ETFs have been volatile, posting an eighth straight week of net outflows before a $222 million inflow snapped a ten‑session outflow streak, indicating mixed institutional sentiment【1】.  Despite the downtrend, the market’s on‑chain metrics remain stable, with no mention of large‑wallet movements that would suggest a fundamental shift.

## Long‑term forecasts and assumptions  
Several prominent voices maintain bullish long‑term outlooks. Michael Saylor, who holds 842,138 BTC through Strategy, expects Bitcoin to reach $1 million before the decade’s end, based on a 30% annual growth rate that would push the price to $21 million by 2046【3】. ARK Invest’s Cathie Wood projects that 2.5% of the $200 trillion managed by global fund managers could flow into Bitcoin, lifting market cap to $16 trillion by 2030—equating to roughly $761,000 per coin, with a range of $300,000 to $1.5 million【3】. Bernstein’s 2024 call places a $1 million price by 2033, while Bitwise’s Matt Hougan envisions a ten‑year path, arguing Bitcoin must capture a larger share of the $38 trillion store‑of‑value market, which is currently dominated by gold at 96%【3】.

## Market‑size context  
At $1 million a coin, Bitcoin’s market cap would need to rise to about $21 trillion, sixteen times its current $1.3 trillion valuation, implying it would own more than half of the global store‑of‑value market—a substantial stretch from its present sub‑4% share【3】.  The analysis notes that the store‑of‑value market itself expands roughly 13% annually, mirroring gold’s growth since the first U.S. gold ETF in 2004, which could provide room for Bitcoin’s expansion if the trend continues【3】.

## What to watch  
- **$60,000 support** – a breach could trigger further downside and test the $55,000‑$50,000 range.  
- **ETF inflows/outflows** – weekly net flows above $200 million may signal renewed institutional demand.  
- **Long‑term growth assumptions** – any shift in the 30% annual growth premise (Saylor) or the 2.5% asset allocation target (ARK) would materially affect the $1 million timeline.  

The persistence of $1 million forecasts underscores a divide between short‑term market weakness and long‑term optimism rooted in institutional adoption and macro‑asset reallocation. Whether Bitcoin can bridge the gap from its current $64,000 level to a seven‑figure price hinges on the realization of these growth assumptions and the stability of its institutional support.

## Sources
1. Forbes — [Bitcoin Going ‘Parabolic’—Huge $1 Trillion Price Prediction Issued](https://www.forbes.com/sites/digital-assets/2026/07/06/bitcoin-going-parabolic-huge-1-trillion-price-prediction-issued/)
2. Forbes — [‘House Of Cards Collapsing ’—Serious Bitcoin Crash Warning Hits Price](https://www.forbes.com/sites/digital-assets/2026/06/19/bigger-than-2008-serious-10-trillion-fed-crash-warning-sparks-huge-bitcoin-price-prediction/)
3. 247wallst.com — [Bitcoin Price Prediction: Can Bitcoin Reach $1 Million?](https://247wallst.com/investing/cryptocurrency/2026/08/11/bitcoin-price-prediction-can-bitcoin-reach-1-million/)

---
Cite as: TrendWatcher, "Bitcoin price near $64,000 as analysts still predict $1 million target", https://www.trendwatcher.in/article/fc682a91-5435-4af6-a8c3-8547b44b4cef