U.Today - A bold Bitcoin price prediction from Adam Back, one of the earliest contributors to Bitcoin’s development, has resurfaced, reigniting optimism about BTC’s long-term potential.
Bitcoin historian Pete Rizzo highlighted this in a recent tweet: "Adam Back predicting a $10 million Bitcoin price. Prepare accordingly."
Rizzo shared a screenshot of Adam Back's tweet from the past, which predicted Bitcoin crossing $10 million per coin and $200 trillion in market cap by the end of the next two halvings, or about nine years.
Nine years from the date of the prediction would imply the year 2032. Bitcoin reached an all-time high of $109,114 on Jan. 20, 2025. At the time of writing, Bitcoin traded at $96,240.
With institutional interest growing and financial markets evolving, Back’s prediction continues to fuel speculation on just how high Bitcoin can go in the years to come.
Bitcoin price action
The Bitcoin price has fluctuated significantly over recent weeks; it fell to a low of $93,000, followed by a brief recovery to $102,000, and is now trading above $96,000.As the BTC price fluctuates, Glassnode explores potential pathways and thresholds ahead for the BTC price in a recent report.
Per the MVRV Z-Score on a one-year rolling window, the Bitcoin price has found strong support near the mean level at $96,300.
Should Bitcoin prices break lower, the $80,100 level may mark a key threshold for the bulls' next major line of defensive support. Conversely, the $118,000 level may act as resistance as investors come into a meaningful amount of unrealized paper profit and may seek to realize them into market strength.
The average short-term holder cost basis has also historically served as a strong support level during a bull market uptrend. This pricing model currently trades at around $92,200 and is a key region to hold for the market to avoid further downside.