Why Max Keiser Is Highly Optimistic About Bitcoin Cracking $220,000 In ‘A Flash’

As the bitcoin price sputters in recent days, crypto bulls are stepping in to pump the market up.

Outspoken bitcoin permabull Max Keiser has reiterated his exuberant $220,000 bitcoin price target. Keiser is well-known for his bullish and sometimes outrageous predictions. The bitcoin maximalist has mentioned the six-figure target multiple times in the past year and now this year.

How Realistic Is Keiser’s $220K BTC Price Forecast?

Max Keiser is once again doubling down on his own jaw-dropping $220,000 estimate.

In a March 21 tweet, Keiser said $220K would “come in a flash” and then the real bull market would commence. Keiser was responding to a tweet noting that U.S. officials are “making the perfect environment for bitcoin to go parabolic”, referring to reports that the Federal Reserve and the Treasury will need $17 trillion to guarantee all bank deposits should the current banking crisis deepen.

Keiser’s forecast is a sign of bullishness in the crypto market after the industry faced harsh sledging as the crypto bear market set in last year, a time when prices plunged, and multiple crypto-focused firms went under.

A Mega Breakout In The Cards

Bitcoin has surged stupendously this week, up 37% since March 11. All this has happened amid bank runs and uncertainty on whether the FED will raise interest rates. Some have argued that this is a vindication of bitcoin’s safe haven thesis.

That being said, Keiser is not the only crypto bull who contends that bitcoin has more headroom. On Sunday, ex-Coinbase CTO Balaji Srinivasan predicted that bitcoin would soar to $1 million in less than 90 days due to hyperinflation in the United States.

With Bitcoin having breached the $28,000 mark recently for the first time in 9 months, it means that if Balaji’s prediction comes to pass, by June 17, the dominant cryptocurrency will have attained another historical high.

Source: Read Full Article