Adam Back, CEO of Blockstream and a prominent figure in the cryptocurrency community, has stated that Bitcoin's current price of $103,000 is "strangely low." He predicts that Bitcoin could surge to between $500,000 and $1 million during this market cycle. Back attributes this potential increase to factors such as inflows from exchange-traded funds (ETFs) and growing institutional momentum. His forecast suggests a rapid rise once Bitcoin hits a new all-time high. This bullish outlook contrasts with some other market predictions, such as one estimate placing the peak at $420,000 for this cycle. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io