The Winner Will Get 1 Million Sats

Bitcoin (BTC) price prediction by crypto influencers or any industry experts are not new, while the Bitcoin optimist stays confident over their saying. There are many industry experts such as Elon Musk, Michael Saylor, Roger Ver, and Andreas Antonopoulos who generally show their support for the BTC price.

With self-analysis and study, many of the other crypto experts also share their optimistic analysis of the BTC price.

About The Bitcoin Betting Battle

Adam Back, the Blockstream CEO, also shared his bullish sentiment for BTC price. As per his analysis, BTC will reach its all-time high (ATH) of over $100,000. According to him, for reaching its new ATH, BTC will not take many years as its price will mark ATH before halving in 2024.

The bets related to the BTC price rise already attracted a huge sum of money previously with Balaji Srinivasan’s $1 Million 90-day BTC bet in March 2023.

the bet is on🚀: i bet #bitcoin reaches or exceeds $100k between now and halving (31st Mar 2024) with @vikingobitcoin9 1million sats to the winner. https://t.co/Ij7iPEYjQW pic.twitter.com/PNpAaZvl8F
— Adam Back (@adam3us) August 5, 2023

With an optimistic approach to BTC price, Back is willing to drop a Million betting on it. As per his bet with a pseudonymous X user Vikingobitcoin9 on X (formerly known as Twitter), the CEO of Blockstream bets for 1 Million Satoshi (Sats). A satoshi (sat) is the smallest divisible unit of BTC while there are 100 Million sats to a single BTC.

On August 7, 2023, Back agreed to a bet with Vikingo that BTC would reach $100,000 by March 31, 2024. However, Vinkingo believes it won’t happen until 2025. BTC price prediction by Back shows his analysis of BTC future price. If his saying is right, then Vikingo owes him 1 Million Sats, and if not then Adam owes him Vikingo.

Notably, Back has also been bullish about BTC in the past. In February 2023, Back said that BTC could reach $10 Million by the sixth halving in 2032. It can be said that this is a small bet for Blockstream CEO as his net worth is estimated to be somewhere between $50 to $300 Million.

Samson Mow, the CEO of a gaming company, Pixelmatic also showed his support for Back’s BTC price prediction. He wrote that he too expects a new all-time high for BTC “pre-halving, not post.” This bet may be small but has attracted some responses as this still reflects an optimistic approach for the BTC price.

BTC Price Performance

Last year, BTC price surged over 26% which at press time, is trading at $29,038.00, as per the data sourced from TradingView, a web-based social network for traders. With a 24-hour trading volume of $8.26 Billion, BTC is down by 0.11% in the last 24 hours.

The above chart is showing one-year price performance of BTC which clearly shows a rising graph. Currently, BTC price is trading slightly below its 20 and 50-day moving average.

Notably, earlier this year, the RSI of BTC surpassed its overbought zone with a trading price range of nearly $23,000.00. In the recent month, BTC price dropped over 4% which is still showing bearish market sentiments.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing