Steve Marcus/Reuters
- Wharton professor Jeremy Siegel said bitcoin's recent boost will fade out once people start trusting banks again.
- He said cryptocurrencies push a narrative that the conventional financial system is terrible, helping drive bitcoin gains amid a banking crisis.
- The world's largest cryptocurrency is trading around the $28,000 mark – it's highest level in nine months.
Wharton professor Jeremy Siegel has weighed in on bitcoin's recent rally, spurred on by the recent banking crisis.
"My feeling is when people feel they're safe in the banks again, bitcoin will go back down," the economist said in a weekly blog.