Sunday, July 12, 2020

Max Keiser: ‘Bitcoin’s New All-time High of $28,000 is Still in Play’

The number of critics Bitcoin has cannot be compared to those who are firm believers in the potential of the most popular cryptocurrency. Max Keiser, as usual, is quick to point out where he stands between both. The Wall Street veteran and host of the Keiser Report recently said Bitcoin’s new all-time high of $28,000 is still in play.

New Grounds Set During Bear Market to Hike Bitcoins Price

According to Max Keiser’s tweet on April 8, grounds that were set during the bear market will see Bitcoin’s price hit $28,000 as its new all-time high. The Bitcoin enthusiast also said the virtual asset will still visit $100,000 which has been his prediction since 2011. However, Keiser did not put a mark on the time when either of these will happen.

Followers Respond to Keiser’s Tweet

While responding to Keiser’s tweet, some of his followers were quick to agree that there has been an improvement in the market. A user stated that the bear market has driven away weak hands and those who bought near the peak surge of 2017. It has now given room to institutional investors who will lead its price up. The user also pointed out that Keiser’s tweet is conservative since the prediction did not come with a set time as is usually the case of forecasts.

$100,000 per Bitcoin may look unattainable to some people, but another user said that was actually an underestimation of how high Bitcoin can go. According to the user, “Your number is grossly underestimated, but we’re on the same page. I put it at a conservative $4 million.

Predictions Made by Cryptocurrency Analysts

Cryptocurrency analysts, on the other hand, are also seeing a huge price tag in a few years time. An instance of this is Zhao Dong who said Bitcoin’s price will fluctuate between $4,000 to $6,000 for half the year. There will later be a price change that will lead its price to $10,000 before setting it at a new all-time high between $50,000 and $100,000 in 2021.

Alternatively, AngeloBTC believes that around 2021, we’ll be looking at a price of
$30,000. The trader, however, said something contrary when he outlined that the market capitalization of cryptocurrencies is quite small in comparison to some assets. As such, it cannot make them a store of value even if the market is valued at $1 trillion.

That aside, PlanB has a price tag for Bitcoin in 2020 and in his opinion, Bitcoin will trade around $55,000. The analyst believes that the Bitcoin halving that has been scheduled for May 2020 will have a significant impact on its price.

Latest News

Does COVID-19 Have the World Rethinking Dollar Supremacy?

A reading of a piece by a Yale professor and former head of Morgan Stanley Asia arguing the...

Listen: What a Bitcoin Researcher Says About Lightning

Chaincode Labs researcher Clara Shikhelman has been studying mathematics in university since she was 14 years old. Now, as the bitcoin company’s newest post-doctoral...

Hyper-Stablecoinization: From Eurodollars to Crypto-Dollars

Crypto-dollarization is the world's next best hope to meet its insatiable demand for U.S. dollars.

The Mixed Signals Economy: The Breakdown Weekly Recap

Jobless claims are down, coronavirus cases are up and the markets simply don’t know what to do.

Sale of the Century: The Inside Story of Ethereum’s 2014 Premine

"Now anyone could be an investor in one of the most cutting-edge technology companies out there. All they needed was an internet connection and...