April

<p class="is-style-lead">In a recent series of X posts, the head of Blockstream Adam Back said the largest by market cap cryptocurrency might surge to $100k before the 2024 halving.</p> 
<p>According to the Blockstream CEO, Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) “will surely flip physical gold sooner or later” as the probability of this scenario is high enough for “this halving cycle.” In <a href="https://x.com/adam3us/status/1731078806264324442?s=20" target="_blank" rel="noreferrer noopener">an X post</a> on Sunday, Dec. 3, 2023 Back said he expects the top cryptocurrency to set a new all-time high at $100,000 even before the 2024 halving.</p> 
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   <p lang="en" dir="ltr">That's what I've been saying, my bet is $100k befofe the halving.</p>— Adam Back (@adam3us) <a href="https://twitter.com/adam3us/status/1731078806264324442?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 2, 2023</a>
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<p> You might also like: <a href="https://crypto.news/bitcoin-to-hit-45k-in-2023-as-funding-rates-signal-fomo-matrixport-says/"> Bitcoin to hit $45k in 2023 as funding rates signal FOMO, Matrixport says </a> </p> 
<p>As per Back, Bitcoin will benefit most from an intergenerational transfer of wealth as Gen X and millennials are likely to liquidate their portfolios in stocks, bonds and pension pots. He also <a href="https://x.com/adam3us/status/1731463823142326676?s=20" target="_blank" rel="noreferrer noopener">noted</a> that some people have already started “selling gold to buy Bitcoin,” opening doors for the cryptocurrency to reach the $1 million mark after the halving, which is expected to arrive in April 2024.</p> 
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   <p lang="en" dir="ltr">digital gold <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#bitcoin</a> will surely flip physical gold sooner or later; and probably this halving cycle. so within a year or two. currently it'd take $700k/BTC but it maybe partially a substitute (some people start selling gold to buy <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#bitcoin</a> crossing the market caps below that).</p>— Adam Back (@adam3us) <a href="https://twitter.com/adam3us/status/1731463823142326676?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 4, 2023</a>
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<p>Meanwhile, Bitcoin <a href="https://crypto.news/bitcoin-breaks-the-41k-mark-active-addresses-surge/" target="_blank" rel="noreferrer noopener">surpassed</a> the $41,000 mark for the first time since the Terra collapse in May 2022, <a href="https://crypto.news/bitcoins-latest-price-surge-80-of-holders-at-profit/">putting 80% of the asset’s holders in profit</a>. According to data from IntoTheBlock, Bitcoin’s profitability has reached a two-year-high, while&nbsp;the number of active BTC wallets registered a 6.4% rise — hiking from around 863,600 to 919,410 daily active addresses.</p> 
<p>Analysts at Matrixport <a href="https://crypto.news/bitcoin-could-reach-125000-by-end-of-2024-matrixport-forecasts/">believe</a> that the largest crypto can reach $60,000 by April 2024 and double that price mark by the end of 2024 as the market has entered a new phase of a bull run.</p> 
<p>Galaxy Digital Founder and Chief Executive Mike Novogratz&nbsp;is also bullish on Bitcoin, <a href="https://crypto.news/galaxys-novogratz-predicts-bitcoin-reaching-70k-with-etf-approval/" target="_blank" rel="noreferrer noopener">saying</a> the top crypto is poised to reach its old highs a year from now, should the U.S. Securities and Exchange Commission (SEC) give the go-ahead to spot Bitcoin exchange-traded funds (ETFs).</p> 
<p> Read more: <a href="https://crypto.news/institutions-show-no-interest-in-altcoins-allocate-bags-in-bitcoin-bybit-research-says/"> Institutions show no interest in altcoins, allocate bags in Bitcoin, Bybit Research says </a> </p>

Blockstream’s Adam Back bets Bitcoin could reach $1m after 2024 halving

crypto.news

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