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During an X Spaces event hosted by The Bit Gazette on October 18th, Web3 content strategist Adil Ashfaq shared his cryptocurrency market outlook, predicting bitcoin could reach $1 million within the next decade while forecasting an extended bull cycle that may push BTC to $150,000-$160,000 before capital rotates to altcoins in 2026.
Ashfaq, who works as a marketer and strategist for blockchain projects, based his analysis on bitcoin’s supply scarcity, growing institutional adoption, and improving regulatory conditions under what he characterized as a “pro-crypto” U.S. administration.
Note: The following article summarizes views and predictions shared during the Bit Gazette X Space discussion. These represent the speaker’s personal analysis and market outlook, not financial advice. Readers should conduct independent research before making investment decisions.
“When my kids are 9 to 10 years old, Bitcoin is gonna be trading around $1 million for sure,” Ashfaq said during the discussion. “Even before that.”
He explained his reasoning centers on Bitcoin’s fixed supply and what he sees as growing institutional adoption. According to Ashfaq, only 19.5 million Bitcoin are in circulation, with approximately 1.5 million permanently lost. He stated that only 2 million bitcoin remain on exchanges, with the rest held in hardware wallets, ETFs, and long-term holdings, though he did not cite specific data sources for these figures during the space.
2025: A Year of Regulatory Clarity and Developer GrowthAshfaq described 2025 as “exceptional” for cryptocurrency, citing three factors he believes are significant:
Regulatory environment: Referring to what he characterized as the Trump administration’s supportive stance toward digital assets, Ashfaq stated, “We have never had a pro-blockchain, pro-crypto government in the biggest economy in the world.”
Developer growth: He claimed the space attracted over 50,000 new developers in 2025 alone, with Ethereum’s ecosystem leading according to his assessment, despite competition from faster chains like Solana. Specific data sources were not provided during the discussion.
Price stability: Ashfaq noted that even during market corrections, bitcoin maintains levels above $100,000—a shift from trading below $5,000 during the COVID-19 pandemic five years ago.
Ashfaq argued that many altcoins will fail because they don’t generate meaningful revenue.
“A lot of altcoins are gonna die,” he predicted. “Buybacks is the new meta. Buybacks is the new alpha.”
He highlighted projects like Hyperliquid, Pump.fun, and Aster as examples of what he considers revenue-generating platforms that reward token holders through buyback programs.
According to Ashfaq’s analysis, successful projects share common characteristics:
He contrasted this with struggling projects that feature minimal revenue generation, broken promises, and what he called “ghost chains” with little on-chain activity.
Ashfaq specifically mentioned Story Protocol, claiming it earned only $1,200 per day in revenues despite a $4 billion valuation, compared to what he estimated as Pump.fun’s $30 million in daily fee generation. These figures were not independently verified during the discussion.
Despite competition from faster chains like Solana, Ashfaq argued that Ethereum continues to dominate enterprise adoption in 2025.
“Enterprises are very comfortable with Ethereum because of the history,” he explained. “Ethereum has been very stable. The network has been open all the time for almost 10 years.”
In his view, while Solana remains the retail favorite for its speed and lower fees, institutional investors prioritize Ethereum’s reliability and proven track record. He claimed this preference is reflected in developer numbers, stating that Ethereum’s ecosystem—including Layer 2s like Base and Arbitrum—attracted the most new developers in 2025, though he did not provide specific data sources.
Ashfaq addressed trader frustration over the delayed “alt season”—when alternative cryptocurrencies typically outperform bitcoin—attributing this to what he believes is an extended market cycle.
“This time it’s gonna change. It’s going to be an extended cycle,” he predicted. “Four years, six months, or even a five-year cycle.”
He expects bitcoin to reach new all-time highs around $150,000-$160,000 before capital rotates into what he considers quality altcoins, likely in Q1 or Q2 2026 rather than by year-end 2025.
When asked what metrics matter most, Ashfaq pointed to global M2 money supply as what he considers the critical indicator.
“Gold goes up fast, and after that, Bitcoin follows,” he explained.
According to his analysis, recent gold appreciation—which he claimed added $10 trillion to gold’s market cap this year—suggests bitcoin’s next major surge is approaching, though this figure was not verified during the discussion.
“Some billion liquidity is going to come out of gold, and Bitcoin is going to start making new highs,” he predicted.
While acknowledging meme coins as a “rough market,” Ashfaq sees opportunities for traders who understand community dynamics and what he calls “mind share”—how much attention a project captures on social media.
He recommended using platforms like CookieDAO to track which meme coins are generating the most discussion, noting that in his view, attention often precedes price movement in this volatile sector.
Ashfaq closed with what he characterized as an urgent message about fiat currency debasement:
“Please do not save your money in fiat.”
He stated that while the US dollar has lost significant purchasing power since abandoning the gold standard in 1971, countries like Argentina, Nigeria, and Turkey have seen even more dramatic currency depreciation.
“If you are a trader in this space, if you are an investor in this space, please make sure to preach about it. Educate your family, educate your friends about how fiat is dying,” he said.
Ashfaq’s main takeaways for Q4 2025 included:
As we head into the final quarter of 2025, Ashfaq’s message is clear: the crypto market is maturing, and investors need to adapt their strategies accordingly. Revenue generation, on-chain activity, and real utility now matter more than hype and promises.
Adil Ashfaq is a Web3 content strategist and marketer based in Dubai, UAE. He specializes in strategic content creation for blockchain brands and has been in the cryptocurrency space since 2017. Ashfaq shares market analysis and insights on LinkedIn, where he has over 8,300 followers.
