Adam Back: We definitely expect Bitcoin to hit $100,000 in the new year

“The last few years have been like a biblical plague. There was COVID-19, quantitative easing of monetary policy by central banks. There have been wars that affect the cost of electricity. Inflation pushes people up, companies go bankrupt,” explains Adam Back, who, among other things, is one of the first developers of BTC.

As 2023 comes to a close, the effects of many of the events mentioned have faded. This is reflected in the recent rise in Bitcoin prices since November 2023:

“The bankruptcies of companies associated with Three Arrows Capital, Celsius, BlockFi and FTX.... These are all basically over. I don’t think there will be many big surprises.”

Therefore, 2024 will be a year of recovery for Bitcoin, as the first cryptocurrency will react to the upcoming halving.

“Although you might think: the claim that Bitcoin will reach $100,000 before the halving is completely insane. But at the time when I said this for the first time, the price of Bitcoin was only $20,000,” the crypto expert argues.

Bitcoin halving should take place at the end of April 2024. Halving the reward for miners will definitely affect the hashrate of the first cryptocurrency.