Balaji Srinivasan Says Hyperinflation Happening Now — Makes Million-Dollar Bets on Bitcoin Price Exceeding $1M in 90 Days

Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar bets that it will happen in 90 days.

Timeline of Bitcoin

Bitcoin [BTC] continues to push its price upward and it even crossed the $27,000 mark recently. At press time, BTC was up 4.5% and was trading at $27,331.13 with a market capitalization of $528 billion.

As Bitcoin hits its highest level in nine months, many are wondering just how high the cryptocurrency can go. With a market cap of over $1 trillion and a surge in demand, as investors seek a safe haven amid economic uncertainty, Bitcoin's price has skyrocketed in recent months. 

Balaji Srinivasan, the former CTO of Coinbase and a former general partner at Andreessen Horowitz, has agreed to a rather large bet that bitcoin will push its way above the $1 million price tag in 90 days.

Bitcoin Price: The ongoing banking crisis along with macroeconomic concerns in the United States could likely trigger a favorable outcome for the crypto market in the upcoming Federal Open Market Committee (FOMC) meeting. When the US Fed committee meets on March 21 and 22, 2023, the central bank panel will take into account its larger The post Bitcoin Price: Why US Fed FOMC Meeting Is Likely To Trigger $30K appeared first on CoinGape.

Analyst and trader Nicholas Merten has reservations about Bitcoin (BTC) despite the flagship crypto asset's massive rally over the past week. Merten tells his 511,000 YouTube subscribers that although the Bitcoin-to-Nasdaq stock index correlation looks bullish, the macro environment is unfavorable.

Bitcoin [BTC] retested the $26K price level twice within a week. Investors partly fueled the retest, seeking alternatives following the U.S. bank run and declining faith in the traditional banking system.

BTC/USD Absorbs 27609 Level:  Sally Ho's Technical Analysis – 19 March 2023 Bitcoin (BTC/USD) sought to sustain recent gains early in the Asian session as the pair hovered around the 27500 level after trading as high as the 27834.54 area, its highest print since mid-June 2022.  Stops were elected above the 27609.48 level during the ongoing appreciation, an upside price objective linked to buying pressure that previously emerged around the 20333.33 area.

The cryptocurrency market has seen significant gains recently, with Bitcoin rising over 30%. Alt-coins and the DeFi space have also experienced substantial gains, with Conflux ($CFX), Mask Network ($MASK), Stacks ($STX), MAGIC ($MAGIC), and Fantom ($FTM) leading the way.

Bitcoin Price News: The back to back horrific collapse of crypto friendly U.S. banks jolted the digital asset industry over the last week. The crypto market is back on track as Bitcoin (BTC) surges to trade near to $28K price level.

Arthur Hayes, co-founder and former CEO of crypto derivatives trading platform BitMEX, is forecasting a massive rally for Bitcoin (CRYPTO: BTC), adding that he predicts a $1 million price tag for BTC. In making his claim, Hayes cited the People's Bank of China's reduction of its Reserve Ratio Requirement (RRR) by 0.25%.