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Adam Back claims that Bitcoin is "super cheap" at the current price and suggests that Bitcoin reaching $100,000 is "overdue

2024/04/13 00:01

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Adam Back, CEO of Blockstream, asserts that Bitcoin (BTC) is currently "super cheap." Back suggests that the understanding of its value lags due to uneven distribution. He highlights that the average investor, often inexperienced, requires exposure to bear markets to grasp Bitcoin's true value.

The leading cryptocurrency is presently valued at $69,477, having experienced a minor 0.5% decrease. Questions arise regarding a potential post-halving crash.

Divergent Views on Bitcoin's Future: Bulls vs. Skeptics Post-Halving

Back's bullish sentiment contrasts with Jeff Ross, CEO of Vailshire Capital, who anticipates a 40% correction post-halving. Ross dismisses the notion of Bitcoin reaching $100,000 solely due to the spot ETF narrative, predicting a subdued spring and summer for its price. However, he anticipates the correction to pave the way for a new bull market, commencing towards the end of 2024.

Similarly, Arthur Hayes, cofounder of BitMEX, forecasts a significant Bitcoin price drop preceding the halving event.

Bitcoin's Path to $100,000 and Beyond: Back's Optimism vs. Ross's Caution

Back previously stated that Bitcoin hitting $100,000 was "overdue," noting a subdued reaction to its all-time high of $73,737. He envisions Bitcoin potentially reaching $700,000 if it were to match gold's market capitalization.

Despite optimistic projections, uncertainty looms over Bitcoin's immediate future, with expectations of a correction before the onset of another bullish phase.

Bitcoin(BTC)

Dapatkan pemahaman yang lebih luas tentang industri kripto melalui laporan informatif, dan terlibat dalam diskusi mendalam dengan penulis dan pembaca yang berpikiran sama. Anda dipersilakan untuk bergabung dengan kami di komunitas Coinlive kami yang sedang berkembang:https://t.me/CoinliveSG

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