Early Bitcoin investor Max Keiser tweeted today that he foresees Bitcoin price smashing through the $15,000 mark sometime this week amid troubles with centralized government and banking
The Bulls are Back in Town
The price of Bitcoin has made a noticeable comeback this summer, coming from a low of $5,500 in early May to a top of nearly $13,000 in late June. Since then, the markets have cooled off putting the price of a single Bitcoin to $10,700 at the time of writing. On top of this bullish trend, BTC dominance has also been on the climb, from bouncing around 50% to over 65% as of today.
Max Keiser, Founder of Heisenberg Capital, has been buying Bitcoin since the days it was worth only a dollar. Over the years he has been very vocal in his support for cryptocurrencies, encouraging others to invest and building within the space. He also is a strong believer in Bitcoin Maximalism, talking often about how the value in the cryptocurrencies space will flow into Bitcoin. Today on Twitter, he made his predictions on where he sees the price of BTC going in the short term.
I’m sensing #Bitcoin will cross $15,000 this week. Confidence in central governments, central banks, and centralized, fiat money is at a multi-decade low.
— Max Keiser (@maxkeiser) August 3, 2019
While this prediction may be a bit optimistic, it is based off a major selling point of crypto-currencies over their centralized, state-backed counterparts; decentralization.
Separation of money and state
Bitcoin is unique, its the first value transfer system that wasn’t controlled by a third party actor. Supporters have been said for years that a money system that wasn’t controlled by a central government is a much better alternative fiat currencies as there would be a safe, stable supply and be immune from federal monetary policy. And in the long run, that may hold true.
Fears of a worldwide economic turn down have been spreading between economists lately, as the US-China trade war escalates and Britain heads faster and faster towards a no-deal Brexit, something that would send the region’s economy into chaos.
On top of these uncertainties affecting the market, many economists are predicting a general economic slowdown due to the explosion of several world economies over the last decade. In some countries, such as Venezuela and Zimbabwe, have experienced huge inflation rates over the last decade. Even with Bitcoins wild price swings, it can still be better than their local currencies. As economies all over the world run into more and more issues, many people may start to consider decentralized alternatives such as BTC or Bitcoin Cash to save or spend their money.
Where do you think Bitcoin’s price will be going to the next few weeks? Are worldwide economic issues good for Bitcoin? Let us know down in the comments below!
Images courtesy of Bitcoinist Media Library
