Markus Thielen, head of research at 10x Research, said projections for Bitcoin to reach $1 million by 2030 are mathematically unrealistic because the token would need to climb more than 15-fold from current levels and draw about $15 trillion in additional capital inflows over the next four years. Bitcoin was trading at $62,976 as of 10:40 p.m., up 0.55% on the day, according to CoinMarketCap. Thielen said Bitcoin's roughly $1 trillion market capitalization already makes outsized gains harder to achieve, contrasting the required future inflows with the roughly $1 trillion that helped lift Bitcoin to its current scale over the past 15 years. He said a new all-time high next year looks difficult and that even a move back to $100,000 would be a significant achievement.