Max Keiser: Institutions Entering The Market Will Trigger A New Bitcoin Bull Run, Create Retail FOMO
Max Keiser, a recognized Bitcoin supporter, and filmmaker explained that Bitcoin will be surpassing $100,000 in the long term. Institutional investors will be key players in order for the digital asset to reach new all-time highs in the future.
Max Keiser Believes Bitcoin Will Surpass $100,000
The cryptocurrency investor Max Keiser believes that the most popular digital currency will be reaching and surpassing $100,000 in the future. According to him, Bitcoin’s bottom close to $3,200 in December 2018 was the beginning of a new bull trend in which Bitcoin would only grow from there.
During a conversation with Kitco News, Max Keiser discussed the cryptocurrency market and how the most popular digital asset is going to behave in the future. According to him, the announcement made by the Federal Reserve that was going to allow permanent quantitative easing was what marked the bottom in the crypto market.
Moreover, he said that as the world is moving into de-dollarization, investors want to search for different ways to protect their wealth and funds. At the same time, he explained that gold is also manipulated. Gold is considered to be a store of value that investors purchase during periods of crisis or economic volatility.
He went on explaining that for Bitcoin to capture a piece of the gold market it would have to be traded between $60,000 and $100,000 per coin. At the same time, he stated that he has $100,000 as a price target and that he has never sold any of his Bitcoins.
Bitcoin has also proved itself as a store-of-value and its market capitalization continues growing over time. He also expects the virtual currency to become more useful and stable in the future. This happens because there is a larger market and because Bitcoin is expanding in the market.
In the near future, there are going to be several services launched for institutions. Fidelity Investments, TD Ameritrade and the Intercontinental Exchange (ICE) with Bakkt.
Currently, each BTC can be bought for $7,900 and it has a market capitalization of $140 billion, as reported by CoinMarketCap.