Gemini

Bitcoin

Base

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blockstream-ceo-optimistic-about-bitcoins-potential-to-reach-new-highs/" data-wpel-link="internal">Blockstream CEO Optimistic About Bitcoin’s Potential to Reach New Highs</a><br></p>
<p style="text-align: justify"><strong>Blockstream CEO</strong> Adam Back is highly optimistic about the leading cryptocurrency, <a href="https://coin-turk.com/ethereum-agindaki-bitcoin-miktari-rekora-kosuyor" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/populer-analistten-buyuk-tahmin-bitcoin-btc-en-az-10-kat-daha-artacak" data-wpel-link="internal">BTC</a>), reaching an all-time high (ATH) over the weekend. Adam Back shared his optimistic view on social media, mentioning some events that could prevent the cryptocurrency from reaching a new ATH. Grayscale’s spot <a href="https://en.coin-turk.com/significant-bitcoin-etf-sales-and-market-shifts-in-the-us-and-canada/" data-wpel-link="internal">Bitcoin</a> ETF GBTC is experiencing significant outflows, with one of the latest reaching up to $105 million in a single day.</p> 
<h2 id="cryptocurrency-liquidations">Cryptocurrency Liquidations</h2> 
<p style="text-align: justify">Remarkably, this was a 60% decrease from the previous day. A significant percentage of these outflows could be the result of large liquidations by bankrupt players, such as Gemini and <strong>Genesis</strong>, wanting to pay off their creditors. With the weekend approaching, it seems that traditional finance firms like Grayscale and many other investment companies will be offline. This could mean a pause in the massive outflows from GBTC.</p> 
<p style="text-align: justify">A sharp drop in GBTC outflows, coupled with continued slow inflows, could lead to a supply shock. In the long term, a supply shock could drive Bitcoin prices to peak, considering other market metrics. There are also ongoing outages at the cryptocurrency exchange <strong><a href="https://en.coin-turk.com/bittrex-boldly-challenges-secs-authority-over-crypto-classification/" data-wpel-link="internal">Coinbase</a></strong>. The last Coinbase outage was recorded when Bitcoin reached a new ATH above $70,000. The Blockstream CEO believes that due to currently low Base volume, Coinbase’s “circuit-breaker” might not be triggered over the weekend, potentially pushing Bitcoin prices even higher.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-335043 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/gbtc.jpg" alt="" width="945" height="305"></p> 
<h2 id="expert-views-on-bitcoin">Expert Views on Bitcoin</h2> 
<p style="text-align: justify">Adam Back’s speculations seem to align with previous predictions by leading cryptocurrency market analysts Ali Martinez and Markus Thielen. Ali Martinez believes that in the coming days, the <strong><a href="https://en.coin-turk.com/bitcoins-market-value-surpasses-historic-peak-expert-insights/" data-wpel-link="internal">BTC</a></strong> price could rise above $74,500. He explained that if Bitcoin can maintain its position above the 200-EMA and surpass the $71,580 neckline resistance level, it could instead signal an uptrend.</p> 
<p style="text-align: justify">This could potentially pave the way for a 4.44% increase in value, which could raise the <strong>token’s</strong> price to $74,760. On the other hand, Thielen observes that Bitcoin has recorded an increase of up to 12% in April. With the Bitcoin halving event just a few weeks away, time will tell if the cryptocurrency analyst’s prediction will come true.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/blockstream-ceo-optimistic-about-bitcoins-potential-to-reach-new-highs/" data-wpel-link="internal">Blockstream CEO Optimistic About Bitcoin’s Potential to Reach New Highs</a></h5>

Blockstream CEO Optimistic About Bitcoin’s Potential to Reach New Highs

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