Entrepreneur Balaji Srinivasan, one of the names closely followed by the cryptocurrency market, announced his critical forecasts for the leading cryptocurrency Bitcoin (BTC) at an event held in Austin, Texas! According to the master, Bitcoin will reach its price target of $ 1 million by June 17, 2023! Here are the details…
Critical Bitcoin (BTC) price prediction from the master entrepreneur!
cryptocoin.comBalaji Srinivasan, the famous entrepreneur, whose name we have previously mentioned, explained the reason for his bet that Bitcoin (BTC) can reach a price of $ 1 million by June 17, in a speech he made remotely via video connection at CoinDesk’s Consensus 2023 conference held in Austin, Texas.
As you know, Srinivasan, the former chief technology officer of crypto exchange Coinbase, is credited by many for predicting the effects of COVID-19 earlier than most, and the number of followers has increased exponentially for a long time. However, in March, he predicted surprisingly bullish prospects for Bitcoin in response to the depreciation of the US dollar. He said the price could reach $1 million within 90 days from March 17. The words of the famous name are as follows:
It may take 900 days or 90 months! It’s possible, but I’m not giving a 100 percent probability
I might be wrong but I’d burn a million to say they’re printing trillions
As you know, the name, who has given a rise forecast for Bitcoin in the past months, also attributes these predictions to hyperinflation. On the other hand, he describes his forecast as a “symbol” of “full faith and credit collapse in the US financial system” due to the proliferation of money printing by the government to support a fragile banking system.
However, Srinivasan, who associates the possibility of Bitcoin to reach 1 million dollars with the possibility of experiencing a kind of Black Swan, that is, “Black Swan” event in the US economy, said that the probability of a very serious problem in months is 10 percent, the probability of experiencing it in years is 70 percent, the probability of experiencing it in decades is 10 percent. He said he thinks the probability is 19 percent and the probability of it lasting a century or more is 1 percent.
So I don’t think it’s 100 percent, but I think the specific number is high because I see a lot of vulnerability in the system.
Leading cryptocurrency Bitcoin (BTC) price status
On the other hand, the crypto money market has lost 0.8% in the last 24 hours, falling to the level of 1.25 trillion dollars. The market, which lost value after the last $ 30 thousand exit of the leading crypto currency, saw a decrease in many altcoin projects.
Looking at the price of the leading cryptocurrency Bitcoin, there has been a 0.9 percent decrease in the last 24 hours. Instantly, the BTC price is at $ 29,201.68 and maintains its leading position with a market cap of $565 billion.
