"It seems logical that BTC goes up 30K before fasting, but is $1 million okay?"
Balaji Srinivasan, Coinbase's Chief Technology Officer (CTO) predicted the price of the cryptocurrency king Bitcoin (BTC) will reach $1 million within 90 days after saying that the United States (US) may experience hyperinflation.
Srinivasan's statement which came as the US Federal Reserve (Fed) is printing money in the middle of the banking crisis has caused the crypto community to talk to each other.
Srinivasan also believes that massive withdrawals from banks will take place from today and he stated that every individual should have assets that cannot be seized adding that BTC is a safe heaven.
Even so, some staunch supporters of BTC such as well-known market analyst Alex Kruger warn investors not to take the digital asset's predictions seriously unless there is an ulterior motive that could cause its price to spike.
While another market analyst named Ali Martinez explained that the price of BTC could reach $1 million in 90 days if the entire Gross Domestic Product (GDP) of China goes into the digital asset.
Following BTC's particularly strong performance during the banking crisis, some analysts expect the digital asset's price to surpass $30,000 ahead of the Federal Open Market Committee (FOMC) meeting.
As of this writing, the price of BTC managed to climb by 2.33% at the level of $27,843 in the last 24 hours and then increased by 23.87% during the last week.
