Jack Dorsey: Bitcoin to $1M by 2030 – What ‘makes the price go up’?

• Dorsey sees $1M by 2030, but Schiff warns of an upcoming downward pressure.
• Market sentiment hints at a short-term rise amidst price uncertainty. 

After the highly anticipated Bitcoin [BTC] halving event, the leading cryptocurrency appears to be on a downward trajectory.

As of the latest update, BTC was trading at $60,708 after experiencing a significant drop of 4.20% in the past 24 hours.

Execs’ optimistic stance on Bitcoin 

Amidst this declining performance, Jack Dorsey, former CEO of Twitter and a prominent figure in the tech and cryptocurrency worlds, predicted that BTC would reach $1 million by 2030.

In the latest interview with the ‘Pirate Wire’, Dorsey said, 

“The most amazing thing about Bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves — everyone who puts any effort in to make it better — is making the entire ecosystem better, which makes the price go up.” 

Dorsey’s remark highlighted how the collaborative and open nature of the Bitcoin community can yield broader benefits when individuals work to improve the network or engage with it positively.

In fact, Dorsey is not the only one to view this period as the perfect buying opportunity, Layah Heilpern, Host of The Layah Heilpern Show added, 

Source: Layah Heilpern/X

Bitcoin’s market sentiment 

AMBCrypto’s analysis of BTC’s market sentiment indicated a bearish trend on the daily chart, yet hinted at a potential short-term uptick toward the $65,000 mark.

Source: TradingView

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Amidst this optimism, one of the biggest Bitcoin critics, Peter Schiff noted, 

“With waning demand from new buyers, ETF outflows will soon put significant downward pressure on #Bitcoin.”  

Hence, we advise you to keep an eye on whose perspective prevails, as BTC forms a familiar Re-Accumulation range near its previous all-time highs.

Source: Rekt Capital/X