Bitcoin just hit $100,000, you may have noticed, which means the road to $1 million has just begun.

I reckon it'll take around 12-13 years.

Bitcoin will probably keep climbing a bit, but it may stop short of $150,000.

Either way, I reckon it will definitely go back below $100,000, which will cause the same, inevitable reaction as usual, which will eventually lead to a bear market.

I don't think it'll go back under $50,000, but it might.

After that, it'll go back above $100,000, then $150,000 and at that point, it'll be difficult to achieve $200,000 or $250,000.

I think the process will repeat itself over and over, with two main differences.

One, I think the cycles aren't going to last as long as before, and two, the increments won't be +/- 500 or maybe even +/- 1,000 - it'll be more like five-figure or, at some point, six-figure dips and jumps.