• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Adam Back on Current Bitcoin Market Trends: Analysis and Forecasts

user avatar

by Giorgi Kostiuk

a year ago

  1. Adam Back’s Crypto Commentary
  2. Reasons for Cryptocurrency Increase
  3. Historical Data and Current Situation


    4. Renowned Bitcoin maximalist Adam Back analyzes the current market situation and the prospects of the leading cryptocurrency in his latest evaluation. Many investors anticipate a drop in BTC price below $56,000 in the coming days.

    Adam Back’s Crypto Commentary

    If investors are accustomed to trading within specific ranges, they might soon see movements that leave them out. If historical data repeats, Bitcoin will rise without looking back, and altcoins will quickly follow.

    I can still say we are in the early stages of the bull market...Adam Back

    Reasons for Cryptocurrency Increase

    According to Adam Back, the tendency of ETF channel investors to hold assets for longer periods will drive the BTC price increase. With more retirement funds entering this area in the future, the picture will drastically change. We will see days when the supply ready for sale significantly decreases.

    When new money enters Bitcoin, the market value increases. However, the new money does not need to match the increase in market value, because the price is determined at the margin.Adam Back

    Historical Data and Current Situation

    Germany sold, the US is depleting its assets, and Mt Gox refunds are almost over. As a major surplus issue is resolved, this story is being written. New users buy coins and store them cold, or ETFs buy and store them in a custodian, raising the price. Long-term holding by buyers has the most significant impact.

    Adam Back emphasizes that ETF investors' behavior so far indicates long-term holding, which could contribute to the future price growth of Bitcoin.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Solana Faces Significant Market Downturn Compared to Bitcoin, XRP, and Ethereum

chest

Solana is experiencing a significant market downturn, with nearly 75% of its circulating supply held at a loss, unlike Bitcoin, XRP, and Ethereum which have lower loss percentages.

user avatarJacob Williams

XO Token: The Backbone of XOCIETY's Economy

chest

The XO token is a crucial component of XOCIETY's in-game economy, enabling players to earn real-time rewards through various gameplay activities.

user avatarZainab Kamara

XOCIETY Secures $16 Million for Upcoming Early Access Launch

chest

XOCIETY has secured $16 million in funding to support its upcoming Early Access release on the Epic Games Store.

user avatarAyman Ben Youssef

XOCIETY: A Unique Blend of Shooter and RPG Mechanics

chest

XOCIETY is an innovative third-person shooter that incorporates RPG mechanics, set in a captivating sci-fi world where player decisions significantly influence the game environment and long-term progression.

user avatarTando Nkube

BIS Calls for Regulatory Frameworks in Growing Tokenized Markets

chest

BIS calls for regulatory frameworks to address risks in the growing tokenized asset market.

user avatarKofi Adjeman

BIS Reports Surge in Tokenized Money Market Funds to 9 Billion

chest

The Bank for International Settlements (BIS) reports a significant rise in tokenized money market funds, reaching 9 billion, raising concerns about potential risks.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.