Bitcoin permabull Max Keiser is doubling down on his $100,000 bitcoin value prediction because it reached a brand new ten-month excessive this week. The Wall Street veteran says the U.S. Federal Reserves insurance policies will trigger a sequence of occasions that may cement BTC’s standing as a retailer of worth.
Bitcoin to $100,000
Speaking to Kitco News on Tuesday (May 14, 2019), Keiser said each medium and long-term technical and market fundamentals level to Bitcoin inching nearer to a bull market.
The host of the Keiser report says the cryptocurrency hasn’t even begun to achieve its potential, sustaining that his 2018 $100,000 per coin was nonetheless achievable.
BTC has added greater than $2,000 to its value in lower than per week in May 2019 alone. The $141 billion market cap asset has gained north of 120 % because the starting of the yr with greater than 83 % of that progress occurring in April and May 2019.
Buffett Lacks the Smarts Needed to Understand Bitcoin
Keiser additionally used the chance to as soon as extra rip into nocoiners like Warren Buffett who proceed to disparage BTC satirically calling it ‘rat poison squared.’
Recently, the Berkshire Hathaway chief described BTC as a playing machine. Keiser rebuffed Buffett’s place declaring that BTC is on track to turning into a haven asset on par with gold.
That would imply BTC’s market cap reaching one thing alongside the strains of $eight trillion. Keiser’s bitcoin value prediction of $100,000 places the BTC market capitalization at doubtlessly $2.1 trillion given the cryptocurrency’s 21 million complete provide.
Commenting on the obtuseness of Buffett and co, Keiser declared:
He’s [Buffett’s] too mired in his methods, he can’t adapt, he’s not agile, he hasn’t acquired the mind energy for it [Bitcoin].
Keiser isn’t alone in suggesting Buffett’s disdain for BTC comes no less than partly from a complete lack of information. Binance CEO Changpeng Zhao again in 2018 characterised the Berkshire Hathaway chief as being ignorant about cryptocurrencies.
The Fed Already Crapped the Bed
Keiser additionally touched on the Fed’s choice to enter quantitative easing, describing the transfer as being positive for Bitcoin. According to Keiser:
When the Federal Reserve financial institution signaled that they have been going to everlasting quantitative easing, I stated look, that’s the underside for bitcoin, that was about $three,200 on bitcoin, as a result of they’re making it clear now that there’s going to be no accountability by the Fed. They’re going to print advert infinitum, advert nauseam, there’s going to be no rollback, no type of try and stability their books.
We have each cause to anticipate that this breakout in #gold is for actual. Gold & #Bitcoin are rising for a similar cause. Wealth is de-risking. Money is transferring out of property with counterparty danger. Silver breakout to observe quickly.https://t.co/VavMWPmFqt pic.twitter.com/CQcSuwASNN
— James Turk (@FGMR) May 13, 2019
Central banks around the globe as additionally enacting comparable insurance policies with Travis Kling of Ikigai Asset Management calling them irresponsible. For James Turk of Goldmoney, buyers will proceed to pivot away from property with counterparty dangers into haven commodities like gold and Bitcoin.
Will Bitcoin attain $100,000 earlier than the tip of 2019? Let us know your BTC value prediction within the feedback under.