One prominent crypto figure says Bitcoin could easily hit $100k this year...
A well known bitcoin proponent says that bitcoin may end up hitting $100k this year, and it wouldn't be that surprising.
These were the thoughts uttered by Max Keiser on the Keiser Report.
More of which can be seen here:
https://cointelegraph.com/news/coronavirus-will-send-bitcoin-price-to-100-000-in-2020-max-keiser
$100k within the next 9 months is a daunting task, especially considering that bitcoin is having a difficult time moving above $10k as I type.
Is he just plain crazy or crazy like a fox?
How is that going to happen exactly?
According to Keiser, it will likely happen due to one thing...
The Coronavirus.
He thinks that this thing is going to cause so much economic turmoil that there will be a massive collapse in the stock market, which will ultimately spark more QE and easy money policies.
By the end of it Jamie Dimon will be begging for a bailout to buy bitcoin (according to Keiser).
It will push the global financials system over the edge.
he thinks 2008 was round 1, and 2020 will be round 2.
He said specifically:
“This is the global financial crisis that will catapult the price to $100,000 and beyond.”
(Source: https://cointelegraph.com/news/coronavirus-will-send-bitcoin-price-to-100-000-in-2020-max-keiser)
My thoughts...
On the one hand, this sounds like a crazy prediction, but Keiser has been right before.
Interestingly enough, he hasn't made a ton of price predictions over the years, but the ones he has made previously, several of them eventually ended up being right.
This one is a little shorter then some of his previous ones though, so we will see how it plays out.
I think bitcoin literally has every ingredient we could hope for in order to produce a massive rally...
- easy money policies
- global pandemic
- halving
- countries legalizing
- election year
I mean we literally have a ton of tailwinds this year, the only thing that could top it off would be an ETF approval, which won't be coming.
So, there is a chance he is right, but I am thinking we will have to wait until 2021 until we see $100k bitcoin.
We will see.
Stay informed my friends.
Image Source:
https://bitcoinist.com/max-keiser-bitcoin-gobble-fiat-interview/
-Doc