Peter Brandt makes a good point:

For BTC to reach $1M+ (which I firmly believe it will achieve), Bitcoin will HAVE to break to the upside of the parabolic channel (see image).

This would be REQUIRED to reach $1M+, as the curve of the parabola isn't steep enough to reach $1M by staying within the channel.

Such a breakout would be MAJOR, with a very high target.

I think it will happen. Not this cycle though. Probably the next cycle. My guess is by 2030-2032 we see a $1M+ BTC.