The head of Blockstream, a company that works with Bitcoin technology, said that the price of Bitcoin could go up to a very high amount, maybe even $100,000, before 2024.
Adam Back, who is a cypherpunk and created Hashcash, a system used by Bitcoin, said positive things about Bitcoin in his recent statement.
On October 1, 2021, the price of Bitcoin went above $47,000 and then it went up to $69,000, which is the highest price it has ever been, within just 41 days. He said that there are still 70 days until the halving, which means Bitcoin has enough time and energy to set new records.
But, Back said that the price could reach a new highest ever level or even go up to $100,000 before the halving.
Halving is a process that happens in the Bitcoin network every 210,000 blocks, which is about every four years. It makes less new BTC and makes them more valuable. The next halving is expected to happen in April 2024. At that time, the block reward will go down from 6. 25 BTC to 3,125 BTC.
This is not a suggestion on what to invest in.
