Some executives and CEOs from cryptocurrency exchanges Coinbase and Gemini expect the price of Bitcoin (BTC) to return to June levels before this week ends.
Tyler Winklevoss says Bitcoin price will be at this level until the new week
The Gemini founder believes that the Bitcoin price will reach $30,000 before the start of the new week on March 21. Winklevoss’ forecast comes after Bitcoin surpassed its annual high of $26,533 following regulators’ response to the ongoing banking crisis in the US.
30k bitcoin by the end of the weekend?
— Tyler Winklevoss (@tyler) March 17, 2023
Former Coinbase executive shared a 7-digit price prediction
Former CTO of Coinbase, Balaji S. Srinivasan, is betting that the price of Bitcoin (BTC) will exceed $1 million in the next 90 days. Balaji laid out his thesis today in the form of a long tweet. In his analysis he summarizes:
- Most of the banks in the US are bankrupt.
- BTC hits 1 million USD in 90 days.
- Hyperinflation is at hand.
- Converted 99% of Nw to BTC.
- The USA will start a civil war in 90 days.
Here are the remaining references, as Twitter has a limit on the number of links in one post.
I am moving $2M into USDC for the bet. I will do it with Medlock and one other person, sufficient to prove the point. See my next tweet. Everyone else should https://t.co/R3lQp7Ffdt… https://t.co/KFnHvotLpK pic.twitter.com/ABxBmYmv9i
— Balaji (@balajis) March 17, 2023
Balaji bet with the American professional poker player Isaac Haxton on the price of Bitcoin to exceed the huge figure of $ 1 million. Haxton stated in a tweet that if he donates 70% to GiveDirectly, he can send a Bitcoin into escrow on behalf of James Medlock. However, the Poker player added that if Medlock loses he will get all the negatives and if he wins he will get none of the pluses.
Yes. Just moving money for the bet. We can do it via smart contract, but for simplicity old-fashioned escrow may work.
The escrow person would need one BTC address and one ETH address (for the USDC). The assets would sit on chain for 90 days.
If BTC < $1M in 90 days after… https://t.co/TP82ecUf9J
— Balaji (@balajis) March 18, 2023
Bitcoin expected to price crisis environment
Starting the year on a high note, BTC continued its resurgence after a three-week pullback. After surging from under $16,000 to $25,270, the price direction changed with a 22.65% consolidation filtering into the early days of March 2023.
Ripple returned to the market after reports of Silicon Valley Bank and Silvergate Bank failings overwhelmed the US financial sector. Panic injected saw investors looking for alternative vehicles and Bitcoin seemed like a safe place with the entire crypto market.
Bitcoin’s influx of funds saw the price rise from the local low of $19,569, past its first-year high, and traded above $27,000 in a week. Bitcoin price is up 41.98% in the current rally and the upside momentum remains strong as the bulls continue to push for higher highs.
A growing Bitcoin price coincides with several predictions from the beginning of the year that indicated the end of the protracted bear market that saw Bitcoin market cap drop below $1 trillion towards the end of 2022. Higher levels are expected in preparation for the next halving event scheduled for March 2024.
Rekt Capital sets April levels for Bitcoin ahead of halving
In a recent analysis of halving cycles, Rekt Capital says that Bitcoin will remain limited below $27,000 until April. cryptocoin.comWe have included the analysis in this article.
