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 Avenue veteran says the U.S. Federal Reserves insurance policies will trigger a series of occasions that can cement BTC’s standing as a retailer of worth.
Bitcoin to $100,000
Talking to Kitco Information on Tuesday (Might 14, 2019), Keiser mentioned 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 succeed in 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 every week in Might 2019 alone. The $141 billion market cap asset has gained north of 120 p.c because the starting of the 12 months with greater than 83 p.c of that development occurring in April and Might 2019.
Buffett Lacks the Smarts Wanted to Perceive Bitcoin
Keiser additionally used the chance to as soon as extra rip into nocoiners like Warren Buffett who proceed to disparage BTC mockingly calling it ‘rat poison squared.’
Just lately, the Berkshire Hathaway chief described BTC as a playing machine. Keiser rebuffed Buffett’s place mentioning that BTC is on observe to turning into a haven asset on par with gold.
That may 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 probably $2.1 trillion given the cryptocurrency’s 21 million whole 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 received the mind energy for it [Bitcoin].
Keiser isn’t alone in suggesting Buffett’s disdain for BTC comes at the least partly from a complete lack of expertise. Binance CEO Changpeng Zhao again in 2018 characterised the Berkshire Hathaway chief as being ignorant about cryptocurrencies.
The Fed Already Crapped the Mattress
Keiser additionally touched on the Fed’s choice to enter quantitative easing, describing the transfer as being optimistic for Bitcoin. In keeping with Keiser:
When the Federal Reserve financial institution signaled that they have been going to everlasting quantitative easing, I mentioned look, that’s the underside for bitcoin, that was about $3,200 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 to steadiness their books.
We’ve each cause to anticipate that this breakout in #gold is for actual. Gold & #Bitcoin are rising for a similar cause. Wealth is de-risking. Cash is transferring out of property with counterparty threat. Silver breakout to comply with quickly.https://t.co/VavMWPmFqt pic.twitter.com/CQcSuwASNN
— James Turk (@FGMR) Might 13, 2019
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Central banks around the globe as additionally enacting related insurance policies with Travis Kling of Ikigai Asset Administration 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? Tell us your BTC value prediction within the feedback beneath.
Photos by way of Tradingview, Kitco Information, Twitter @FGMR, Shutterstock, Bitcoinist archives
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