• 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

Nubank Establishes National Trust Bank in the US

chest

Nubank has established Nubank, NA, a national trust bank in the US to enhance its financial offerings.

user avatarGustavo Mendoza

Iran Prepares for Potential Conflict Amid US Threats

chest

Iran's Crisis Management Department designates subway stations as shelters in response to US military threats.

user avatarMaria Fernandez

Visa Expands Global Stablecoin Settlement System

chest

Visa has launched a full-scale global stablecoin settlement system across multiple blockchains, processing over $35 billion in annual volume.

user avatarRajesh Kumar

Visa Partners with Circle for USDC Settlement on Arc Blockchain

chest

Visa partners with Circle to settle USDC on the Arc Layer1 blockchain, enhancing blockchain payment capabilities.

user avatarLuis Flores

Cardano Announces New Developments and Collaborations

chest

Cardano's founder announced the upcoming launch of USDCx, while several collaborations and developments are underway in the ecosystem.

user avatarMiguel Rodriguez

New Federal Reserve Chairman's Succession and Rising Geopolitical Tensions

chest

The succession of the new Federal Reserve Chairman is occurring alongside increasing tensions between the United States and Iran, impacting economic policies and cryptocurrency markets.

user avatarArif Mukhtar

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.