Bitcoin’s $10M Prediction Resurfaces as Price Fluctuates

Bitcoin pioneer Adam Back’s bold prediction of BTC reaching $10 million per coin has resurfaced, fueling speculation about its long-term potential. Bitcoin historian Pete Rizzo recently highlighted Back’s past forecast, which projected a $200 trillion market cap by 2032, aligning with the next two Bitcoin halvings.

Bitcoin recently hit an all-time high of $109,114 on January 20, 2025, before dipping to its current price of $96,240. The cryptocurrency has seen significant volatility, briefly recovering to $102,000 after falling to $93,000. Analysts at Glassnode identify key price thresholds that could shape BTC’s trajectory.

The MVRV Z-Score suggests Bitcoin has strong support at $96,300. If prices decline further, bulls may defend the $80,100 level. Conversely, resistance near $118,000 could prompt profit-taking as investors capitalize on unrealized gains. Additionally, the short-term holder cost basis at $92,200 remains a critical support zone during this bull market.

Institutional interest continues to drive optimism in the crypto market, with analysts closely watching price action ahead of Bitcoin’s next halving cycle. As BTC’s adoption grows, Back’s ambitious forecast remains a topic of debate, leaving investors to assess whether Bitcoin can reach new historic highs.