Popular Cryptocurrency analyst, Max Keiser who once tore dollar notes to explain the value of Bitcoin is now predicting that bitcoin will touch a record price of $400k in the long term.
Max Keiser Ever Bullish On Bitcoin
Max is popularly known for his outrageous bitcoin price predictions. Towards the end of last year, Max mentioned in a series of tweets and interviews that bitcoin was heading for $100k in 2020. This garnered support from renowned technical analysts and cryptocurrency traders who collectively echoed the affirmative. This collective opinion and constant mentions made a $100k bitcoin price worthy of expectation while many still believe within the crypto space that a range of prices between $20k to $50k per unit of bitcoin was more reasonable before the end of 2020.
New Prediction Of $400k
Despite such deviations, however, Max Keiser, disregarding the current BTC price standings and the most recently noticed BTC price corrections, Max has unexpectedly increased his BTC price prediction to an unbelievable $400k dollars, most probably by the end of the year, 2020.
Max made this known during an interview on with infowars, stating that he is now more bullish on Bitcoin price. According to Max Keiser,
“I’m officially raising my target for bitcoin,…I’m raising my official target for the first time in 8 years, I’m raising it to $400k. That’s my new official target… So you got a 40x return, $10k becomes $400k…”
Tension Around BTC Price
This news comes amid concerns that bitcoin might have just ended what seemed to be a short-lived bull run which saw its price spike up for more than 40% since January of 2020. In a crazy price tantrum observed in previous weeks, BTC, alongside major altcoins, was since to have broken major price resistances and have surged significantly.
Bitcoin particularly touched and surpassed the long-awaited $10k level which many believed marked the beginning of a long ride to the much anticipated All-Time-High price of $20k and possibly beyond! However, as consecutive price corrections began to set in, bitcoin merely held support for $10k for a few days before seeing lower price levels and stumbling again!
Now, as more tension grows around Bitcoin’s price actions, many have shown varying levels of doubt and negativities in the possible continuity of the recent bull run. As Binance’s boss, Changpeng Zhao would later tweet,
Bitcoin Price Over The Last 24 Hours
Bitcoin, perhaps the most controversial and highly volatile cryptocurrency has continued a downward price movement for the last 24 hours. Shedding as little as 1.77 percent of it the closing price of yesterday, the king has declined by up to 5% since its peak value of $10, 394 recorded on the 13th of February. As technical analysis points further downwards in the short term, BTC is currently changing hands at exactly $9,806.
Bitcoin Needs Not Be Scrubbed, Can’t Transmit CoronaVirus
Elsewhere, in China, there’s huge concern rising around the much controversial coronavirus outbreak which has become an issue of national concern. As death toll increases and more infections reported, the Chinese government are now considering sterilization methods like scrubbing their cash notes in order to reduce the rate of transmission of the virus.
Fortunately, for cryptocurrencies in particular, their inability to spread the disease supposing China has a digital currency already in place, would have been a great advantage, in the stead of problems arising from the necessity of holding cash notes.
The Chinese government continues to make plans of issuing a national digital currency and this may become a reality before long. Until then, the country has shot down many business activities and public places in order to put the spread of corona virus under absolute control.