Friday, November 22, 2019

Max Keiser Assuages All Crypto Market Concerns

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Adedamola Bada
I'm Damola, a computer engineer from Obafemi Awolowo University. A crypto enthusiast, marketer, and writer who is seeking to achieve career excellence through hard work and positive contribution to the organization that aspires for excellence. Contact me on [email protected]

Max Keiser, a notable Wall Street personality and the Keiser Report host, is not perturbed about the happenings in the crypto industry. In a recent interview, Keiser foretells the rise in price of the most popular digital currency Bitcoin (BTC) to above $100,000.

During the interview, Keiser was asked about the bad market performance Bitcoin experienced in 2018, and he said the following:

“The Bitcoin price got way ahead of itself, and we saw a typical pullback. Since I first started buying BTC in 2011 at $1, I’ve seen a few of these.”

When the crypto performance from 2014-2016 was mentioned in relation to today’s market, he admitted that the chart for the long-term is okay even though it is bullish. He emphasized that he was basing his cost below $200.

Making a comment about the decline of cryptocurrency when a question was thrown at him about why the crypto market was falling together with the stock market as if they were in agreement, he answered that it was mostly as a result of the perception people had about digital currency.

“I think the market sees Bitcoin as a ‘risk on’ asset, so it moves in unison with stocks. At some point, the market will understand that Bitcoin, like gold and cash, is a ‘risk off’ asset. When the market realizes this, we’ll see ATH as safe-haven, capital flight money moves into Bitcoin.”

Keiser believes it is essential to view Bitcoin globally, by observing the way it operates globally through its continuous usage. When he was asked for his opinion on the rising volume of BTC in Venezuela, despite the crisis of hyperinflation in the country, he said;

“Against the bolivar, Bitcoin and gold have had incredibly powerful upward moves. Only using the USD to map BTC’s performance and impact is shortsighted and misleading. Think global.”

Keiser believes that Bitcoin still stands unchallenged even in the face of Petro, an oil-supported coin. He believes that no digital currency, Venezuela’s Petro included, can be worthy competition with Bitcoin.

Keiser described Bitcoin as a black hole for money which will suck in every type of fiat currency. He said that the power to establish a world free of fiat dominance rests with Bitcoin and at the same time Bitcoin will demolish all that challenges it.

Keiser confessed that humans might not be around to see when that happens due to an ecological holocaust and that possibly the robots that will succeed us will be the ones to enjoy it.

Keiser did his best to eradicate the doubts and fears about the market with his bold statements.

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