The founder of the technology behind Bitcoin gives price prediction for BTC
Adam Back, the founder of the hashcash system used by Bitcoin, gave a price prediction for BTC in his statement.
The CEO of Blockstream, which operates in the field of Bitcoin technology, predicted that the Bitcoin price could reach an all-time high, even $100,000, before the next halving event in 2024.
Adam Back, also a cypherpunk and the inventor of Hashcash, a proof-of-work system used by Bitcoin, has made bullish statements about BTC.
Back claims that a new all-time high or even $100,000 could be seen before the halving.
Halving is known as a process that occurs in the Bitcoin network every 210,000 blocks or approximately every four years.
This reduces the number of new BTC produced per block by 50%, making the new coin supply increasingly more valuable. The next halving is expected to take place in April 2024, when the block reward will decrease from 6.25 BTC to 3,125 BTC.
