Crypto industry expects bitcoin price to rise to $100,000

According to CNBC poll among industry influencers, the market remains bullish on the future of the first cryptocurrency.

Bitcoin reached its ATH in November 2021 at around $69,000 and has fallen by about 60% since then.

Marshal Beard, strategic director of the Gemini crypto exchange, believes that this year the coin rate can reach $100,000. In his opinion, if the first cryptocurrency manages to overcome the previous maximum, it “would not take much time to rise even higher.”

CTO Tether Paolo Ardoino believes Bitcoin could “retest” the $69,000 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.

CNBC journalists 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. If the first cryptocurrency does not reach the agreed rate by June 17, then Pal will win $1 million and return his pledge of 1 BTC .

According to the strategy director of Gemini, the coin may take ten years to approach this figure.

Ardoino is also skeptical about this claim. If bitcoin reaches these levels, it could mean “the collapse of the entire economy,” he added.

In March 2023, Ryan Selkis, founder and CEO of the analytics company Messari, predicted Bitcoin to rise to $100,000 within 12 months. He considers the first cryptocurrency a safe investment amid problems in the US economy.