Bitcoin To Top $500,000 By 2029? Entrepreneur Makes Bold Call

He put a bold target on the table: $500,000 within a few years if flows and sentiment flip. Ric Edelman, a veteran investor, has a similar headline number but with a slower clock; his math rests on broad wealth moving a tiny slice into crypto over time. Both views hinge on steady inflows and more investors taking small positions in crypto.

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Bitcoin sub $70K is a gift. Buy more.

On the other side, the warning is loud and clear. Bloomberg macro strategist Mike McGlone has painted a much darker path, saying an 85% drop could be possible and that $10,000 should not be dismissed.

He points to stronger stock markets, lower market swings, and fading political tailwinds tied to US President Donald Trump as reasons capital might stay away from risky bets. Markets can be moved by big shifts in where money chooses to sit, and moments like this can put a damper on optimism quickly.

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Those two facts together help explain why price fell so sharply; when many try to leave, price can slip faster than logic expects. That said, outflows can also clear the way for a different type of buyer to move in later.

Meanwhile, institutional behavior will be the key variable. Large managers could buy when retail is jittery, and some market watchers point to companies that have built crypto desks as potential demand anchors.

Despite the uncertainty, the $500,000 mark remains the headline grabber for bullish investors. Parish’s call captures attention because it ties sentiment swings to potential market moves, while Edelman’s projections underline how even modest allocations from global wealth could push Bitcoin higher over time.

Featured image from Unsplash, chart from TradingView