Bitcoin to hit $220,000 this year, Max Kaiser predicts
Max Keiser, a prominent Bitcoin evangelist and an anchor at Russia Today, believes that Bitcoin could hit $220,000 this year. His speculation is tied to the rising hyperinflation of fiat currencies. According to him, rising inflation would push more investors to Bitcoin.
#Bitcoin price is signaling fiat money around the world is in a hyperinflationary collapse against Bitcoin. Please keep boosting inflation so my 2021 target of $220,000 comes sooner! 👍😎 https://t.co/NTqMmiH9YQ
— Max Keiser (@maxkeiser) March 15, 2021
Keiser is not the only one that feels this way. Several investors have criticized“rampant money printing” practices by governments. More recently, the U.S. Senate approved Biden’s $1.9 trillion stimulus package, a move that has increased the amount of money in circulation, thereby, fueling inflation.
Several analysts and industry players have said that a significant percentage of these anti-crisis checks would be used to buy Bitcoin. Keiser is in support of this narrative, noting that these stimulus measures will be a major win for Bitcoin.
#Bitcoin price is signaling fiat money around the world is in a hyperinflationary collapse against Bitcoin. Please keep boosting inflation so my 2021 target of $220,000 comes sooner! 👍😎 https://t.co/NTqMmiH9YQ
— Max Keiser (@maxkeiser) March 15, 2021
Meanwhile, the price of Bitcoin reached a new high of $61,700 on Saturday. Shortly after, the digital asset slumped to $56,000. As of press time, Bitcoin was trading at $55,400.
The massive sell-off may not be unconnected with India’s plans to pass a law criminalizing trading or holding Bitcoin and other digital assets. It could also be linked to profit-taking by traders.
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