The market has been gaining momentum in recent weeks, with industry leaders suggesting that the Bitcoin price is only at the beginning of its next major rally. As the digital asset shows resilience against broader market volatility, Adam Back, the co-founder and Chief Executive Officer of Blockstream, a blockchain technology company, has made a bold prediction that Bitcoin at $100,000 is still cheap. The crypto founder believes the flagship cryptocurrency holds far greater potential, predicting its real peak value for this cycle.
Why Bitcoin Price At $100,000 Is Still Cheap
Back, a long-time advocate of Bitcoin, recently emphasized that the market continues to underestimate BTC’s long-term potential. According to him, debates around diminishing returns from each halving cycle may not fully reflect the current economic climate. The crypto founder pointed out that the most recent halving cycle was impacted by macroeconomic disruptions, such as pandemic-related money printing and global supply chain issues, which may have suppressed Bitcoin’s potential upside.
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The Blockstream CEO explained that Bitcoin’s previous peak above $73,000 occurred prematurely and should not be treated as the natural top of the last cycle. Instead, he views it as a temporary cap influenced by external economic headwinds. With those obstacles easing and market conditions aligning more favorably, Back argues that a $100,000 valuation for Bitcoin is “too cheap” relative to its true cycle top.
Looking forward, the Blockstream co-founder believes Bitcoin could climb significantly higher during this current cycle, projecting a peak in the range of $500,000 to $1 million. This bullish forecast underscores his conviction that institutional adoption, increasing scarcity, and a shifting global economic environment are setting the stage for BTC’s most explosive rally yet.
Chart Analysis Suggests BTC Could Hit $124,000 This Week
Crypto analysts are also observing strong technical patterns that suggest Bitcoin may be preparing for another significant breakout. IncomeSharks, a prominent market analyst, has projected that BTC could reach $120,000 by the end of the week.
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His analysis, shared on X social media, is supported by a chart indicating a recovery from recent dips and a potential continuation of the upward trend. Currently, Bitcoin has rebounded from its correction below $108,000 and is now trading above $117,000. IncomeSharks’ chart highlights a “small support break” that has already been recovered, strengthening the bullish case for further price movement. If momentum continues as anticipated, a decisive test of resistance levels near $124,000 appears imminent.
Adding to the optimism, market expert Ash Crypto has noted that Bitcoin is experiencing its strongest September in over a decade. Historically, September has often been a bearish month for the cryptocurrency, but this year has shown exceptional resilience. The analyst noted that when BTC closed September in the green, October and November have been “giga bullish.” If this pattern holds, he suggests that the final quarter of 2025 could mark the beginning of a major bull run.
Featured image from Pixabay, chart from Tradingview.com
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