~snip~
2017/2018 was an anomaly, however, considering that Bitcoin went all the way to $17000 or something, almost to $18000, and then lost most of that value in a few weeks. But it has later been proven that it is not the norm.
I wouldn't call it an anomaly, unless you go back even further and also call an anomaly what happened after the first halving when the price crossed $1000 for the first time. What happened in 2017 was just a continuation of the great expectations that were further fueled by the huge influx of money that went in the direction of cryptocurrencies and the great media hype that only added fuel to the fire.
I did not see the 2018 bull run,, so I don't know much about it, I just can't get rid of this feeling now that in 2016 1 BTC was worth only $400. I mean, that's not too old, I was in my full consciousness then, if I had this much knowledge that time then I must have taken a loan even to take entries. I don't know the future now but I am sure we will see the same results (maybe a little less) in upcoming bull runs but don't know what's stopping me to take loan now to invest. These people were not supporting BTC and it grew this much and now these influential parties are invested and interested in BTC, it means BTC will definitely grow more.
~snip~
If you go back just 1 year, you would see that during the whole year the price was just above $200, and I remember very well that back then I could collect 1BTC in a couple of months only through faucets and that in a very easy way without any short links and similar nonsense. Back then, many people said that BTC would never reach $1000 again and that it was actually game over - but today we see how wrong they were.
Therefore, although I am a realist and I don't really like some random speculation about the price, I will just say that in 10 years I will not be at all surprised if 1 BTC is worth ten times more than today. Of course, $700 000 is a very large amount for 1 BTC, but it should also be taken into account that the purchasing power of that money will be considerably less than today.