The founder of Heisenberg Capital, Max Keiser, is certainly bullish about the future of Bitcoin (BTC). He considers that the cryptocurrency is not going to have any resistance at $20,000 and it could continue growing until it reaches $28,000. Finally, he stated that Bitcoin could start a new massive bull run towards $100,000 after a brief pullback in the $28,000 region.
Max Keiser Belives in a Massive Bull Run for Bitcoin
Bitcoin could start moving towards $100,000, a journey that could to find no resistance until $28,000. This is according to Max Keiser, who shared a tweet with the crypto community highlighting the way in which countries are printing money and how Bitcoin could eventually play a very important role to reduce the negative effects of this “free money”.
“The $20,000 level for #Bitcoin won’t pose any resistance. We won’t see any resistance till $28,000. A brief pullback then the assault on $100,000 begins with renewed vigor.”
— Max Keiser (@maxkeiser) August 1, 2020
Due to the Coronavirus crisis, countries all over the world, including emerging and developed nations, decided to print large amounts of money and push for lower interest rates (record in some countries). This money printing could lead to higher inflation rates and the destruction of individuals’ savings.
The COVID-19 crisis continues to grow as countries are registering an increasing number of cases. This could lead to the second wave of money printing as it already happened in the United States where the government could be ready to give for the second time this year a check for $1,200 to every citizen.
In recent days and weeks, Bitcoin and cryptocurrencies experienced a massive surge in price. While Bitcoin was able to surpass $12,000 for a short period of time, Ethereum could be traded above $400. The same happened to other cryptocurrencies and altcoins that moved higher in recent weeks.
The market seems to be in a bullish period in which it could start moving higher and where digital assets could register new highs. Many users and analysts are convinced the entire market is entering a bull trend that could lead to several virtual currencies to reach new all-time highs this year or the next one.
At the time of writing this article, Bitcoin is being traded around $11,171 and it has a market valuation of $206.12 billion.