# Adam Back Cites Bitcoin's 200-Week Average Crossing $65,000 By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/36395 Published: 2026-10-21T06:00:45.000Z Updated: 2026-10-21T06:00:45.000Z Section: Investing > The Blockstream CEO also said large banks are recommending Bitcoin allocations of 2% to 4%, with some recommendations above that range. Blockstream CEO Adam Back pointed to Bitcoin's (BTC) 200-week moving average crossing $65,000, linking the level to a historical pattern of appreciation after bear markets. Back said Bitcoin has historically begun to appreciate after bear markets when the 200-week measure reaches this stage. He also said large banks are recommending Bitcoin allocations of 2% to 4%, with some recommendations exceeding that range. In [an earlier long-term outlook for Bitcoin](), Back outlined a potential path to $1.5 million per coin by 2030. That view cited institutional participation, spot exchange-traded funds and Bitcoin's fixed supply. ## Links in this article - [an earlier long-term outlook for Bitcoin](https://www.tokenpost.com/news/people/23298)