KEY POINTS
  • Bitcoin has rallied nearly 70% so far this year — and industry insiders who spoke to CNBC remain bullish, with one saying the world's biggest cryptocurrency could reach new heights.
  • Marshall Beard, chief strategy officer at U.S.-headquartered cryptocurrency exchange Gemini, said $100,000 could be a possibility for bitcoin.
  • Part of the industry's positive view on bitcoin right now actually stems from how the well the asset has performed during the banking turmoil sparked by the collapse of Silicon Valley Bank.

Bitcoin has rallied nearly 70% so far this year — and industry insiders who spoke to CNBC remain bullish, with one saying the world's biggest cryptocurrency could reach new heights.

Bitcoin previously hit its all-time high of $68,990.90 in November 2021. Since then it has fallen about 60%.