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Home Journal Crypto Expert Adam Back Predicts Bitcoin Going to $100,000 Before the Halving Heres His Outlook

In a recent video by Altcoin Daily, host Austin Arnold delved into the future of Bitcoin and other cryptocurrencies with crypto expert Adam Back.

Adam Back, a British cryptographer and CEO of Blockstream, is no stranger to the crypto world. He is the inventor of hashcash, a proof-of-work system used in Bitcoin mining. Backs influence is so significant that he is often suspected of being the elusive Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

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The video discusses the two main factors affecting the price of any asset: supply and demand. The upcoming Bitcoin halving event in 2024 will significantly reduce the supply of Bitcoin, creating a supply shock. On the demand side, the race for the approval of Bitcoin spot ETFs in the U.S. could serve as a demand shock.

According to Anthony Pompliano, who appeared on Fox Business, several companies like Grayscale, Fidelity, and BlackRock are vying for the first Bitcoin spot ETF. The SECs decision on these applications could have a massive impact on Bitcoins demand and, consequently, its price.

Adam Back predicts that Bitcoin could reach or even exceed $100,000 before the 2024 halving event. He bases this prediction on the potential for both supply and demand shocks to drive up the price. Back even wagered 1 million satoshis (0.01 BTC) on Twitter to back his claim.

The video also touched on Ripple Co-founder Chris Larsons multi-million-dollar donation of XRP to the city of San Francisco. Larson emphasized his love for the city and the importance of investing in it, especially given its public safety issues.

Chris Larson also provided an update on Ripples ongoing legal battle with the SEC. He stated that the SEC had lost on all crucial points, and the case continues to be a landmark for the regulation of the crypto industry.

Altcoin Dailys video offers a comprehensive look at the future of Bitcoin and the crypto market at large. With expert insights from Adam Back and updates on Ripple, its a must-watch for anyone interested in the crypto realm.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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Crypto Expert Adam Back Predicts Bitcoin Going to $100,000 Before ... - Captain Altcoin