RATE Group | Blockstream Chief Finds $500,000 Bitcoin Price Plausible
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Blockstream Chief Finds $500,000 Bitcoin Price Plausible

20 Nov Blockstream Chief Finds $500,000 Bitcoin Price Plausible

Posted at 19:45h in Bitcoin News by

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Adam Back, who is at the helm of blockchain startup Blockstream, believes there are better days ahead for bitcoin investors, suggesting a flippening between BTC and gold could be in the cards.

Back says it is “plausible” for the BTC price to reach somewhere between $250,000 and half-a-million dollars in the coming years. He offered the outlook even as the bitcoin price has yet to find a bottom, with the price currently hovering at $4,500 on CoinMarketCap and technical signals like the GTI Global Strength indicator screaming oversold conditions.

Blockstream’s Back was responding to an ounce of perspective delivered by blockchain pioneer Bobby Lee, who in addition to being Litecoin Creator Charlie Lee’s brother is also the co-founder of BTCC, a once-leading China-based cryptocurrency exchange. Lee, in fact, was the first to raise the possibility of a flippening for bitcoin and gold.

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