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Coin Telegraph

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Image Credit: Coin Telegraph

Selling Bitcoin is like playing in a 'bad house-rate casino' — Adam Back

  • Adam Back, CEO of Blockstream, compared selling Bitcoin to gambling in a 'bad house-rate casino' due to the volatile nature of the market.
  • Bitcoin's extreme volatility and bull-bear market cycles have posed challenges for traders, with corrections exceeding 80% in the past.
  • Despite the high volatility, long-term Bitcoin investors have been rewarded with significant returns, with BTC showing over 39,000% in the last 10 years.
  • Factors supporting upward price momentum for Bitcoin include growing institutional interest, companies acquiring Bitcoin, and government entities exploring crypto initiatives.

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