Former Chief Technology Officer of Coinbase COIN Balaji Srinivasan recently predicted that Bitcoin BTC/USD will explode by more than 3,300% in less than 90 days.
in a (n interview At ARK Invest last Thursday, Srinivasan said people will flee to Bitcoin in light of the current US banking fiasco.
“I think we see an exit from the US banking system towards Bitcoin over the next few weeks and months and maybe years,” he said.
“The time frame for that would be 90 days and I don’t think it’s impossible considering how fast digital bank runs happen. So, [the] The timing is difficult – the preparation is easy,” he added.
Srinivasan said the Federal Reserve has caused instability in the market and could make many people turn to Bitcoin.
“We now have the real choice between the US dollar and BTC, with people again voting against a very different type of central planning. And this is the macro frame I have with it. The level of instability that the Fed had as a result, they are now in a state like an airplane experiencing turbulence,” he explained.
Last week Srinivasan made a bold prediction and claimed it Bitcoin price could climb to $1 million through June 17 due to the rapid depreciation of the US dollar in the coming months.
Another cryptanalyst walking by CrediBULL crypto on twitter, tweeted on Saturday that he believes Bitcoin is in the early stages of a major bull run after a long period of bottoming out over the past year.
At the time of writing, Bitcoin was trading at $27,965, down two percent over the past seven days.
Continue reading: Bitcoin White Paper Found Hidden in Apple’s MacOS: A Tribute to Satoshi Nakamoto?
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