If the price of Bitcoin skyrockets to $1 million per coin, it will have a profound impact on the global financial markets. Let’s explore the potential chain reactions that could occur in this scenario.

First of all, the total market value of Bitcoin will approach $20 trillion, exceeding the current global market value of gold by 1.1 times. This significant change may trigger notable fluctuations in gold prices. History shows that bull markets in cryptocurrencies often occur simultaneously with rising gold prices, as both are seen as "anti-dollar assets." In this case, gold prices may fluctuate between $3,000 and $6,000 per ounce, depending on the market's confidence in gold as a store of value.

Secondly, the significant increase in Bitcoin prices usually reflects an extremely loose liquidity environment and a notable dilution of dollar credit. This macroeconomic condition is likely to have a positive impact on the Nasdaq index, which is dominated by technology stocks. The Nasdaq index, as a typical liquidity-sensitive asset, could experience growth of 3 to 5 times. If based on the current approximately 17,000 points, the Nasdaq index could climb between 50,000 and 85,000 points.

Overall, if Bitcoin reaches $1 million, we might see gold prices fluctuate between $3,000 and $6,000 per ounce, while the Nasdaq index could range between 50,000 and 85,000 points. In this scenario, all scarce assets could face repricing, reflecting the market's concerns about the dilution of dollar credit.

However, it is worth noting that this scenario analysis is based on multiple assumptions, and actual market trends may be influenced by more complex factors. Investors should take into account various possibilities when making decisions and closely monitor changes in the global economy and policy environment.