Currently, the narrative that dominances, where Bitcoin goes from its $60k level towards parabolic levels, is the mainstream adoption narrative. Right now, we are seeing ever-growing acceptance from major banks and governments (except China due to its pitch for the digital yuan). But most importantly, several corporations including AMC, Twitter, Tesla; potentially more companies to follow going into the new year.
On the other hand, Bitcoin ETFs also help in supporting the narrative that Bitcoin is more adopted in more traditional markets. The primary reason for this is that Bitcoin ETFs would allow most other retail investors who haven't invested in Bitcoin before to invest it in ways that create diversification from equities, real estate, and other asset classes.
With that said, what could drive Bitcoin towards the $1 million price levels in the next market cycle and why?
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