Bitcoin Could Reach $1 Million in 90 Days: Expert

• Adam Cochran, a prominent crypto expert, expressed his dissent with former Coinbase executive Balaji Srinivasan’s bullish prediction of Bitcoin hitting $1 million in the next 90 days.
• Cochran believes that the value of BTC will not be able to withstand such drastic changes with only fiat currency inflation as its catalyst.
• He also noted that much of the excitement and promise of bitcoin had yet to be recovered since the onset of crypto winter last year.

Adam Cochran Calls Balaji’s $1m Bitcoin Prediction Impossible

Prominent crypto expert Adam Cochran recently expressed his dissatisfaction with the audacious forecast for bitcoin (BTC) by former Coinbase executive Balaji Srinivasan on Twitter. According to Cochran, renowned for his views on crypto market action, Balaji’s grandiose $1 million estimate for BTC within the next 90 days is unlikely.

Bitcoin’s 3,600% Pumping Requires a Catalyst

Balaji Srinivasan staked a wager on March 17 that bitcoin’s price will grow quickly over the next three months due to a sharp decline in the value of US dollar, hitting $1 million by June 17. Jimmy Song, a crypto entrepreneur and educator, and Adam Cochran were among those who explored this prediction’s likelihood of success in conversations on Twitter.

Cochran Believes BTC Needs More Than Just Fiat Currency Inflation

According to Cochran, bitcoin requires more than just fiat currency inflation as its catalyst to overcome the 547% increase seen from 2020-2022. The potential value of BTC as an asset would be eclipsed by collapse of US and European banking institutions which would make it more advantageous to spend money on food or bunkers rather than the biggest crypto.

The Crypto Winter Still Affecting Market

Cochran believes that this wager is an effort by Srinivasan to restore some optimism in the crypto market following its difficult period during ‘crypto winter’ last year when prices fell and several businesses in the industry went out of business. He observed that much of enthusiasm towards Bitcoin has yet been recovered since then.

Taking A Chance On Hyperinflation

Some voices including Jimmy Song appeared to agree with Srinivasan’s wager suggesting that BTC would prove helpful against hyperinflationary conditions if they arise but Cochran disagreed citing different scenarios where it would become difficult for people hoarding wealth in Bitcoin amidst such conditions