Bitcoin Price Is Too Low, Should Hit $500K-$1M This Cycle: Adam Back
Summary
Bitcoin's current price is $103,300, showing a 7% increase over the past week and remaining close to its all-time high of $109,000. Adam Back, CEO of Blockstream, predicts Bitcoin could reach between $500,000 and $1 million in this four-year cycle due to significant institutional investment and recent developments. The approval of spot Bitcoin ETFs in the U.S. has attracted over $41 billion in net inflows, providing easier access for investors. Historical trends indicate Bitcoin typically follows four-year cycles, and Back believes that as Bitcoin's price rises, more investment will flow into the market, potentially driving prices even higher.
