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On Friday (March 17), the Bitcoin price continued its “bank collapse” rally, surging another 10% to hit $27,800, the highest level since June 2022.
According to data from TradingView, over on the crypto exchange Bitstamp, the Bitcoin price reached $27,800 at 10:45 p.m. UTC, which means that $BTC is up 36.10% in the past 7-day period and 65.68% in the year-to-date period.
Binance Co-Founder and CEO “CZ” noted that people criticizing Bitcoin for not being a good store of value seem to have become pretty quiet in the past week:
I didn’t see “… but #bitcoin is not a store of value…” narrative in the past week. 🤷♂️
— CZ 🔶 Binance (@cz_binance) March 17, 2023
Bitcoin’s impressive rally led Gemini Co-Founder and CEO Tyler Winklevoss to ask if we could see the $BTC price get as high as $30K by the end of this weekend:
30k bitcoin by the end of the weekend?
— Tyler Winklevoss (@tyler) March 17, 2023
Messari Co-Founder and CEO Ryan Selkis believes that Bitcoin could reach $100K in the next 12 months:
My rough prediction for the next twelve months:
1. More bank failures in the next couple of weeks.
2. Fed cuts / QE is back!
3. BTC climbs, sustained moderate inflation.
4. “Outside Money” / “Sound Money” -> $100k / BTC.
5. Institutions buy faster than Feds can shut down.
— Ryan Selkis 🥷 (@twobitidiot) March 17, 2023
And finally, BitMEX C-Founder and former CEO Arthur Hayes says that Bitcoin is going to $1 million:
加油$BTC = 100万美金 pic.twitter.com/6iJeD5QXQC
— Arthur Hayes (@CryptoHayes) March 17, 2023
Featured Image via Pixabay