For years, every surge in Bitcoin’s price has been met with the same chorus of doubt: “It can’t possibly go any higher.”
Now, even as the cryptocurrency flirts with six figures and beyond, some analysts argue that skepticism itself may be Bitcoin’s most enduring feature.
Luke Broyles, an adviser and long-time advocate for Bitcoin, believes the market will continue to underestimate the digital asset even if it climbs into multi-million dollar territory. He points out that disbelief was just as strong when Bitcoin was worth a few hundred dollars as it is now above $100,000. To him, the barrier is no longer technical performance or adoption, but psychology—most people simply cannot imagine Bitcoin playing a meaningful role in their daily lives.
Recent price action reinforces this cycle of euphoria and doubt. After setting a record high above $124,000 in August, Bitcoin quickly retraced toward $109,000, unnerving traders who assumed the rally had already run its course. Yet Broyles argues these pullbacks have historically been part of Bitcoin’s growth, often shaking out short-term holders before bigger rallies emerge.
Looking forward, he believes adoption won’t come from convincing skeptics to make small recurring purchases, but from embedding Bitcoin into traditional financial products. One scenario he highlights is the potential for mortgages and real estate loans tied directly to Bitcoin.
Instead of drip-feeding investments over decades, consumers could refinance property and instantly gain exposure—an idea that could accelerate mainstream integration far more rapidly than retail dollar-cost averaging.
The challenge, however, is understanding. Surveys consistently show that a large portion of the public avoids crypto because they don’t grasp how it works. Until that changes, Broyles expects the gap between Bitcoin’s price performance and public perception to remain wide.
For now, the digital asset continues to rise and fall against a backdrop of disbelief, with each new milestone serving not only as proof of its resilience but also as a reminder of how far it still has to go before the world truly accepts it.
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