The post Bitcoin Bulls Rejoice: Blockstream CEO Anticipates Price Over $100,000 appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) enthusiasts have been eagerly anticipating a monumental surge past the $100,000 mark, spurred by the cryptocurrency’s robust fundamentals. However, amidst the recent upheaval in the market, optimism has been met with volatility.  Adam Back, the CEO of Blockstream, expressed his belief in Bitcoin’s potential, underlining that its current valuation should have ideally surpassed the coveted six-figure milestone.  Back’s comment arrives during a period of significant market turbulence triggered by the abrupt removal of BlackRock’s iShares Bitcoin Trust from the listing of the Depository Trust & Clearing Corporation, sending ripples through the crypto community. Stahp reloading, you guys crashed dtcc website 🤣 it doesn’t mean anything anyway. Yes ETF coming in a while, but these are all procedural normal things. Yes BTC mispriced should be already over $100k for several few years based on fundamentals. But let’s keep it real. — Adam Back (@adam3us) October 24, 2023 Bitcoin Surges To $35,000 In 2023 In a surprising turn of events, Bitcoin’s price surged to $35,000 for the first time since last year. The spot trading volume also experienced a substantial uptick, soaring by 187% to reach $50 billion. The market capitalization of Bitcoin climbed by 13%, reaching an impressive $676 billion. These figures hint at the continued interest and support for the cryptocurrency, even as it grappled with the shock of BlackRock’s decision. The recent rally that propelled Bitcoin to these heights began last week, triggered by a surge in fake news regarding the approval of a Bitcoin spot ETF proposal by BlackRock. This news sent shockwaves through the market, prompting investors, especially institutions, to scramble to meet their growing appetite for Bitcoin.  As of the latest data from CoinGecko, the current BTC price stands at $34,136, reflecting a 0.8% gain in the last 24 hours and an impressive 18.6%…

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Filed under: News - @ October 26, 2023 1:08 am