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Bitcoin’s rally and its doubters remain on a collision course as the market pauses after a run of record highs.
According to CoinGecko, Bitcoin hit $124,050 on July 14 and was trading around $109,124 at the time of publication. The pullback has not stopped some voices from projecting far higher prices, but it has kept sceptics loud.
Skepticism Will Likely Persist
According to Luke Broyles, a commentator known as The Bitcoin Adviser, doubt about bitcoin’s upside will probably stick around even if prices soar.
Broyles told Natalie Brunell on the Coin Stories podcast that he expects bitcoin to reach $5 million, $10 million or more, and that people will still insist it can’t go any higher.
He said this is not just a market problem. It is a mindset problem.
Psychology Trumps Tech For Many People
Broyles argued that most people have not yet connected bitcoin to things that change daily life. “I think it’s going to be that way for a very long time,” he said.
Adoption, he suggested, will advance faster when bitcoin is tied to familiar financial decisions rather than presented as a small, optional investment to chip away at over months.
That, he said, is what will convince larger groups of people to take it seriously.
Real Estate Integration Could Drive Adoption
Broyles offered a practical example. He asked whether it would be easier to persuade someone to buy small amounts of bitcoin for 200 months, or to tell them they could refinance a home and convert some equity into bitcoin.
He said the latter would “blow people’s minds.” Reports have disclosed that blending bitcoin with mortgage and loan products could make the asset feel more useful, not just speculative.
A Wide Gap In Understanding Remains
According to an August 2024 survey by Australian exchange Swyftx, over 40% of nearly 2,230 respondents said they had not used crypto because they were not sure about it.
That finding underscores a persistent gap between market moves and mainstream comfort. Price records are visible and headline-grabbing. Practical familiarity is slower to arrive.
Skeptics Reappear At Every Milestone
History shows critics have questioned Bitcoin at each new high and during every correction. At times when prices tumbled, some commentators said it was over for good.
Those views faded when the market recovered. That pattern has been repeated many times and was noted again in recent comments from market watchers.
Featured image from Unsplash, chart from TradingView
