According to the British cryptographer, Bitcoin is still underestimated, despite the approval of the spotal bitcoin -etf in the United States, which brought over $ 41 billion, and the friendly policy of the White House administration.
“For me, there is no obvious logical reason why we are only $ 100,000. This is not very high, given all the changes compared to a couple of years ago,” Back said.
He noted that brokers and retail investors buy assets that have previously demonstrated the growth of quotations. This enhances price dynamics: as the bitcoin course increases, interest in it increases, which leads to the influx of new capital.
If the first cryptocurrency shows a new historical maximum, then after a while its cost will surpass the most daring forecasts, the expert summed up.
Earlier, Adam Back said that the market capitalization of the first cryptocurrency may approach $ 200 trillion thanks to companies such as Strategy.
Source: Bits
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