Post
Topic
Board Bitcoin Discussion
Re: A victory for Bitcoin
by
o48o
on 29/03/2023, 20:33:44 UTC


           

Coinbase's former CTO Balaji Srinivasan's prediction about bitcoin price is not realistic for most people(1 btc=1 million USD). Some consider such activities as a tactic for his personal campaign. Some others consider as a reflection of his long-held views on Bitcoin. However, it is easy to imagine Srinivasan's bold prediction of 1 million in 90 days made a big impact on the Bitcoin market. In my opinion, it is not important how much Bitcoin can increase in value in 90 days because people who believe in Bitcoin do not invest in it for a short period. Srinivasan's prediction has shown that Bitcoin is likely to reach new heights. Coinbase's former CTO Balaji Srinivasan should be respectful of his recent thought of bitcoin.

Although Srinivasan's recent prediction may seem absurd to some, it is actually a very reliable prediction in the long term. He made this prediction based on the US banking system and hyperinflation, which makes it difficult to dismiss.
-cut-
Then why did he make short term prediction? I can see why many people would see 1 btc in $1M some day but predicting such a move in 90 days is just beyond delusional and can only hurt his credibility.
However i remain skeptical of that $1M target because if there's not going to be some new method for free energy, bitcoin in $1M most likely would need insane hash power and since govenrnments have been worried about the energy consumption in $50k, then think how much heat bitcoin would get in $1M.