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Bitcoin (BTC) will hit $500,000 according to Max Keiser because the United States will start a giant hash war with Iran and Venezuela — and it’s already started.
In the latest episode of his “Keiser Report” TV show, Max Keiser predicted that the Iranian and Venezuelan regimes would force the Trump administration to embrace BTC.
Thanks to Tehran potentially controlling 3% of the Bitcoin hash rate already and Venezuela — briefly — accepting BTC payments, the U.S. joining the fight for Bitcoin supremacy is only a matter of time.
“Iran has already got 3% of global hash rate, so now I think Venezuela will get 3%–5% pretty quickly,” Keiser said.
“And then at some point America will say, ‘We’ve got to enter the 21st century space race of mining Bitcoin,’ and then they’ll try to seek 20% of the hash rate, and then security goes up dramatically, and the price goes to $400,000, $500,000.”
For Keiser, repeating previous arguments, Bitcoin represents the “reformation of free speech” which governments deny citizens by controlling the currency, and therefore the entirety of their position within the state.
“Bitcoin is the Mona Lisa of the 21st century: It’s self-aware, it is observing us through the quantum mechanical aspects of technology, and it’s channeling the eyes of God,” he continued.
“So, this is God looking at us through the protocol and trying to figure out, ‘How do we fix this human species because they’ve gone way off track due to central banking?’”
The current situation on macro markets versus the suffering of many Americans, exemplified in the Black Lives Matter protests, speaks to Keiser’s point. Anger with the government, and the dilution of the U.S. dollar, contrasts with stock markets seeing their best quarter since 2011.
At the same time, the Federal Reserve has taken ownership of huge chunks of the equity markets, equal to 30% of U.S. gross domestic product.
Last week, Keiser appealed to protesters to abandon their mode of retaliation and simply buy Bitcoin instead.
“The truth is if you want individual sovereignty, if you want justice, if you want uncensorable, unconfiscatable, indestructible wealth, there’s only one way to go — and that’s Bitcoin.”
In other trending Bitcoin News today:
This Eerie Bitcoin Fractal Sees BTC Price Above $70,000 By Mid-2021
As Bitcoin stays motionless near $9,100, one of its old fractals is pointing to a full-fledged breakout towards $70,000 or above.
Spotted first by Artem Shevelev, a TradingView-based market analyst, the pattern shows Bitcoin in a seven-stage bullish development.
So it seems, the cryptocurrency’s run-up to its all-time high near $20,000 in December 2017 succeeded six steps, each involving specific price moves, and indicators. Mr. Shevelev noted that Bitcoin has been forming the very same pattern since 2017.
It is trading inside a giant Symmetrical Triangle while undergoing phases that include medium-sized ascending/descending triangles, so-called “flat zones,” inverse triangles, and sudden crashes.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.