According to a CNBC poll of industry influencers, Bitcoin has seen a drop of around 60% since its all-time high (ATH) of $69,000 in November 2021, though Marshall Beard, strategic director of the Gemini crypto exchange, believes it could reach $100,000 this year and Paolo Ardoino, CTO of Tether, expects it to “retest” the same level.

Bittrex Global CEO Oliver Lynch attributes the asset’s recent rally to the US banking crisis caused by the collapse of Silvergate Bank, Signature Bank and Silicon Valley Bank.

However, CNBC journalists have also recalled the bet made by ex-CTO Coinbase Balaji Srinivasan and former top manager of Goldman Sachs Raoul Pal on the growth of Bitcoin to $1 million, though Beard believes it would require “some crazy things” to happen for it to reach that level within the 90 days given.

Follow and like us on