Why these Bitcoin bulls are predicting take-off to $100k (Micky)
The Bitcoin price is already up around 70% over the past year but two perennial Bitcoin bulls believe it’s just the start of the next parabolic move up and this week they’ve gone public with more huge price predictions.
The man who claims to have called BTC to US$100,000 when the cryptocurrency was trading at just US$1.00 has reinforced his bold prediction in series of tweets.
Keiser believes in the near-term, a Bitcoin price of US$28,000 is still in play.
In the longer-term he says a Bitcoin price of US$100,000 is “no sweat”.
Keiser believes global economic trends are playing into the hands of Bitcoin and gold, however he says Bitcoin will be the greater beneficiary.
“New, global financial crisis (debt=400% of global GDP), driving safe haven money into Bitcoin and Gold,” he tweeted on Monday.
“It takes 25-30x greater capital flow into gold to move it 1% than Bitcoin.
“Bitcoin will move 25-30x faster to the upside than gold as banks implode.”
$28,000 still in play.
$100,000 is no sweat. #Bitcoin
— Max Keiser, tweet poet. (@maxkeiser) July 9, 2019
Max Keiser is the Co-Founder of cryptocurrency venture capital firm Heisenberg Capital and the host of The Keiser Report on RT Television.
Pompliano has traditionally steered cleared of headline-grabbing Bitcoin price predictions.
The crypto millionaire has, however, changed his tone considerably over the past few weeks, reinforcing a Bitcoin price prediction of US$100,000 by the end of 2021.
This morning on The Ticker, Pompliano was at it again and explained why he’s so confident.
“I think the important thing to remember about Bitcoin is it’s a fixed supply asset and so supply and demand economics apply and so if there’s increases in demand, you’re going to see price move up,” said Pompliano.
“I think that by the end of 2021 we’ll see it eclipse $100,000 and really that’s just driven by more institutional interest and then also a lot more global instability that we’re seeing in the early days today.”
Bitcoin market cap: $220 billionBitcoin dominance: 63.9%
If you come at the King, you best not miss! 🙏🏽
— Pomp 🌪 (@APompliano) July 9, 2019
Pompliano does however expected volatility on the way up.
“In a parabolic move upwards, we’ll see kind of 20-40 percent draw downs, we saw one of those already this year.
“You just have to remember volatility is not actually a bad thing, you need volatility for price appreciation… You got to have a long-term view for a volatile asset like this.”
The post Why these Bitcoin bulls are predicting take-off to $100k appeared first on Micky.