Bitcoin permabull, Max Keiser is reaffirming his Bitcoin price prediction of $100,000 as it reached a new ten-month high this week. He also said that the U.S. Federal Reserves policies will cause a chain of events that will confirm the status of Bitcoin as a store of value.
Bitcoin New price Revealed?
Keiser, while speaking to Kitco News on Tuesday May 14th, 2019, revealed that both medium and long-term technical and market fundamentals point to Bitcoin coming closer to a bull market.
The Berkshire Hathaway chief recently described Bitcoin as a device for gambling. Keiser rebuffed Buffett’s position pointing out that BTC is on track to becoming a haven asset on par with gold.
Bitcoin market price prediction
This means that the market cap of Bitcoin will be around $8 trillion. The $100,000 bitcoin price prediction of Keiser puts the market cap of BTC at potentially $2.1 trillion given the 21 million total supply of the cryptocurrency.
Talking about the obtuseness of Buffett and co, Keiser declared: “He’s [Buffett’s] too mired in his ways, he can’t adapt, he’s not agile, he hasn’t got the brain power for it [Bitcoin].”
Max Keiser’s Statement about Bitcoin
Keiser also talked about the decision of the Fed to go into quantitative easing, describing the move as a positive one for Bitcoin. Keiser said that: “When the Federal Reserve bank signaled that they were going to permanent quantitative easing, I said look, that’s the bottom for bitcoin, that was about $3,200 on bitcoin, because they’re making it clear now that there’s going to be no accountability by the Fed. They’re going to print ad infinitum, ad nauseam, there’s going to be no rollback, no kind of attempt to balance their books.”
Central banks all over the world have started enacting similar policies, with Travis Kling of Ikigai Asset Management referring to them as irresponsible. For James Turk of Goldmoney, investors will keep pivoting away from assets with counterparty risks into haven commodities like gold and Bitcoin.
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