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Adam Back Reiterates $100K BTC Price Prediction

Despite the recent pullback of the cryptocurrency market, the British cryptographer and an outspoken supporter of bitcoin – Adam Back – thinks the asset could tap $100,000 by the end of 2022. He also admitted that he kept buying amounts of BTC and HODL for the long term.

No Matter the Crash, Back Remains Bullish

The cryptocurrency industry has collapsed significantly in the past week, causing panic among investors and doubts about whether the asset class could overcome its issues. An example of the minor mood is Bitcoin’s Fear and Greed Index, which dropped to 7 (a level unseen since early 2020 when COVID-19 shocked the world).

Contrary to the negative trend, the CEO of the blockchain technology firm Blockstream – Adam Back – envisioned a bright future for the primary cryptocurrency, forecasting its USD valuation to tap $100,000 by the year’s end.

In his view, the price increase will be triggered if the US Securities of Exchange Commission approves Grayscale’s BTC ETF application. Earlier this month, the company doubled down on its ambitions to convert its Bitcoin trust into an exchange-traded fund by appointing Donald B. Verrilli as additional legal counsel.

Another reason why the cryptocurrency could soar to $100K this year is that Back expects it to decorrelate from stocks and traditional financial markets.

Subsequently, the British described himself as a “permabull,” admitting he keeps buying and holding BTC for the long run. He said he does not use leverage, and thus “timing matters not.”

His Previous Forecasts

Two years ago, Back said the global economic situation could boost bitcoin’s price to $300,000 by 2025. He explained that the COVID-19 pandemic caused many people to work from home, which affected the real-estate industry and made property investments riskier.

Additionally, people had more time to “think about the value of money and look for ways to preserve money,” which could push them towards bitcoin.

Back also denied the speculations that he is the mysterious creator of the digital asset – known under the pseudonymous Satoshi Nakamoto.

In April last year, when bitcoin was in a bull run and was trading around $55,000, Back predicted its valuation would tap $100K by the end of 2021. His forecast did not come true despite the fact that BTC surged in November to an all-time of almost $70K.

Returned error: VM Exception while processing transaction: revert when multiplying

I geting VM exception calling this function. Someone could give me a hint? function ownerCheckReward(address _address) view external returns(uint){ uint _moment = moment[_address]; uint _allowance = allowance[_address]; uint _timestamp = block.timestamp; uint mul = _moment * _allowance; uint result = _timestamp – mul; return result; } Var declaration mapping(address => uint) allowance; mapping(address => uint)::Listen

I geting VM exception calling this function. Someone could give me a hint?

function ownerCheckReward(address _address) view external returns(uint){     uint _moment = moment[_address];     uint _allowance = allowance[_address];     uint _timestamp = block.timestamp;     uint mul = _moment * _allowance;     uint result = _timestamp - mul;     return result; } 

Var declaration

mapping(address => uint) allowance; mapping(address => uint) moment; 

The test

const PayRole = artifacts.require("Payrole") const Token = artifacts.require("Token")  contract("PayRole", (accounts) => {     it("Should allow the owner to add a new dev.", async () => {         const _payrole = await PayRole.deployed();         await _payrole.addDev.sendTransaction(accounts[2], 10000);         const result = await _payrole.getStatus.call(accounts[2])         assert.equal(result, true, "The dev address wasn't allowed")     })     it("Should allow anyone to send the specific token to the contract.", async () => {         const _token = await Token.deployed()         await _token.transfer('0x893BFba8e5d9Cbd998b248a39a4905E7DBD100FC', 10000, {from: accounts[0]})         const balance = await _token.balanceOf.call('0x893BFba8e5d9Cbd998b248a39a4905E7DBD100FC')         assert(balance.toNumber() >= 10000, 'Tokens not sent.')     })     it("Should allow owner to change allowance", async () => {         const _payrole = await PayRole.deployed()         const allowance = await _payrole.setAllowance.sendTransaction(accounts[2], 100000);         assert(allowance, "Allowance wasn't changed")     })     it("Should return the numbers of tokens to be allowed every millisecond", async () => {         const _payrole = await PayRole.deployed()         const account = accounts[2]         const result = await _payrole.ownerCheckReward.call(account)         assert(result, "The function remain bugged")     }) }) 

Solidity version

pragma solidity ^0.8.7; 

Test result

  Contract: PayRole     √ Should allow the owner to add a new dev. (813ms)     √ Should allow anyone to send the specific token to the contract. (824ms)     √ Should allow owner to change allowance (712ms)     1) Should return the numbers of tokens to be allowed every millisecond     > No events were emitted     3 passing (4s)   1 failing    1) Contract: PayRole        Should return the numbers of tokens to be allowed every millisecond:      Error: Returned error: VM Exception while processing transaction: revert       at Context.<anonymous> (testpayroles.js:25:56)       at processTicksAndRejections (node:internal/process/task_queues:96:5) 

Adam Back Reiterates $100K BTC Price Prediction

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