Cryptocurrency analysts and Bitcoin advocates are still long-term bullish on the world’s largest digital currency by market cap Bitcoin (BTC). They believe that the leading digital asset is going to make it to $20,000 by the end of this year. Meanwhile, a popular Bitcoin proponent and Television host Max Keiser has said in a tweet that the price of Bitcoin (BTC) is set to explode very soon and once it does the wealth of famous BTC investors such as Warren Buffet will ultimately hyperinflate.
Bitcoin price to increase by 40-80x
In its recent Bitcoin prediction, Max Keiser said that the price of the top-ranked digital asset is going to surge by 40-80x. That will be a massive growth if this prediction comes true. While describing the intermediate goal for Bitcoin, he claimed that Bitcoin’s price will be aiming at $28,000.
Elaborating his prediction further on, he said in his “forensic analysis of the BTC market” that as soon as the price of BTC reclaims this level, there is something “unexpected” going to happen in the retail market which will ultimately “dry up”. He said that various financial institutions and governments from across the whole world will go for purchasing Bitcoin (BTC) adding that they will be buying the amount of BTC directly from miners. He stated, “institutions, corporations, and governments will be buying BTC directly from miners, presumably at a huge premium.” However, it is expected to happen only if Bitcoin enters into a strong bullish cycle in the coming future.
Moreover, Max Keiser highlighted in a tweet that the price of Bitcoin is currently being suppressed by futures traders making a way for institutional investors to enter into the market and throw investments in Bitcoin. However, he said that it is temporary and this scheme of price suppression “is a godsend for poor people to stack sats now”.
At the press time, Bitcoin’s price is standing at around $11,400 and is struggling to break above the resistance of $12,000 to set its bullish movement towards its all-time high value of $20,000. Various cryptocurrency analysts in the community believe that the coin will succeed in hitting $20k by the end of this year.