The post Ben Armstrong Reacts to Balaji Srinivasan’s $1 Million Target for Bitcoin appeared first on Coinpedia Fintech News
Crypto influencer Ben Armstrong, known as BitBoy Crypto, shared his views and offered his take on the prediction made by former Coinbase CTO Balaji Srinivasan on the price of Bitcoin. Srinivasan had earlier predicted that BTC would reach a staggering $1 million within 90 days.
Armstrong took to Twitter and said that he does think the leading digital currency might hit the $1 million mark in the next 90 days. He does not believe it will happen in the near future or even much later. The cryptocurrency blogger predicted that such a startling price increase wouldn’t happen before 2032, or nine years from now.
On the other hand, Srinivasan asserted that the current banking situation was comparable to the financial catastrophe of 2008. The central bankers, banks, and regulators, he continued, “lied to all dollar holders and depositors” at this time. The US businessman also placed a $1 million wager with an undisclosed person on the same day. The two would receive $1 million in USDC stablecoin from Circle if he loses.
BitBoy Crypto had earlier suggested that waiting till the $10k price point would be quite reckless when Bitcoin was falling in value in November 2022. Armstrong told the cryptocurrency community that buying coins at the current low prices would be a wise move because being too preoccupied with numbers could lead individuals to miss excellent investment chances.
Bitcoin Bulls Seem Unstoppable
After a disastrous 2022 in which the price of Bitcoin dropped by more than 64%, the price rose by more than 60% in 2023. Although some have labeled BTCs most recent comeback in the cryptocurrency market as a bull trap, there are solid reasons to believe that Bitcoin’s most glorious days are yet ahead of it. All losses were recovered, and the price of bitcoin now stands at $28,000. BTC has to break above the $28,500 resistance level before it can begin to rise steadily in the upcoming trading sessions.