Bitcoin Could Easily Crash Over 140% Amid Banking Crisis, Says Tether CTO Paolo Ardoino – Here’s the timeline

Tether’s Chief Technology Officer (CTO) Paolo Ardoino is bullish on Bitcoin (BTC) as the flagship crypto-asset is below $30,000.

Ardoino says in a new CNBC interview that Bitcoin could “easily retest” its all-time high of just over $69,000 reached in November 2021.

“I’m optimistic given everything I’ve said about the geopolitical uncertainty…

I’m bullish on bitcoin. I think it can easily retest the all-time highs above $60,000.”

Bitcoin, which is trading at $28,109 at the time of writing, would need to surge about 145% to retake the record high.

According to Tether’s CTO, the prevailing banking crisis speaks strongly for the adoption of Bitcoin.

“Bitcoin is, in my opinion, decoupling from traditional financial markets at this moment. I think given the geopolitical situation that we’re in, the banking industry situation that we’re in, I think people are getting scared.

So when there are bank runs around the world, I think the only asset you can really hold for yourself is bitcoin, you can keep it in your hardware wallet.

And it’s a hedge against anything that might happen or has happened in the past few months and might happen in the future.”

While bullish on Bitcoin, Ardoino says he doubts Bitcoin could hit $1 million in less than 90 days, former Coinbase CTO Balaji Srinivasan bet last week.

“I know there is a bet on bitcoin that it could hit $1 million in 90 days. I’m rather skeptical because, to be honest, I wouldn’t even hope for it.

Because if Bitcoin would reach such a high price level, it would mean that the entire economy would collapse. And I’m not sure if that’s the word we want to live in.”

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