Trading volumes increased on the crypto market

Blockstream CEO Adam Back believes Bitcoin could reach $ 100,000 in the coming years.

He stressed that there are macroeconomic conditions that would support exceeding the $ 10,000 threshold in the near future.

“It’s closer than it sounds, if we consider hyperbitcoinization. The rising dollar inflation, aided by Modern Monetary Theory, so that 1 dollar will be worth 10 cents over a decade or two of monetary insanity. Then $ 10 million per Bitcoin will be the equivalent of $ 1 million in today’s money.

A $ 100,000 Bitcoin doesn’t seem impossible, given that we’ve already crossed the $ 10,000 threshold several times. Few expected a BTC of $ 1000 a few years ago, and those who predicted a $ 10,000 Bitcoin seemed crazy. ”

Adam Back’s prediction is in line with the expectations of Ross Ulbricht, founder of Silk Road. In December, Ulbricht made a forecast of $ 100,000 in prison.

Trading volumes increased

The $ 100,000 threshold is the new target of predictions, although the range in which it will be reached is unclear. The technical analyzes show that the coming years are very promising and the price evolution will be positive.

Earlier this year, Bitcoin proved to be in much better shape and easily reached $ 8,000. Trading volumes have increased, and futures markets are growing. The new combination of derivatives and spot trading can lead to a higher price level.

The fact that the number of coins that will enter the market in the second half of 2020 is another argument that supports a price increase. At present, most “whales” keep their own cryptocurrencies and continue to accumulate while awaiting price increases.