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Bitcoin bull and Wall Street veteran Max Keiser has issued a massive BTC price prediction, saying as game theory suggest, governments around the world will start putting Bitcoin on their balance sheet sending BTC parabolic to $1,000,000.
The RT host of the Keiser Report shared the following:
“As long as governments control money, there could be no advances in money. Along comes bitcoin, it separates government from money. No government can touch btc, they’re completely divided & divorced.
And as I predicted, if you gave people hard money like bitcoin to transact without the interference of government it would be an economic global boom, a renaissance.
We can transact in unconfiscatable, uncensorable money when nobody can stop us because we’re protected by this encrypted shield called the bitcoin protocol that’s impenetrable & nobody can stop us.
Governments have flapped their gums a lot & suggested oh we are against it but none of them can stop it. Eventually one of these governments according to game theory is gonna say you know what, enough is enough we’re gonna start putting it on our balance sheet here.
And whatever country that might be & then every other country will do exactly the same thing and the price of course will go $500K, $600K, $1,000,000 a bitcoin and Max & Stacy will be once again 100% right.”
In other trending Bitcoin News today:
A Bitcoin Price Dip For Ants? BTC Quickly Rebounds to a New High Above $57,800
The price of Bitcoin (BTC) dipped to as low as $53,905 on Binance overnight, recording a sudden 6% drop. But despite the minor correction, the price of Bitcoin quickly recovered thereafter, reaching a new all-time high above $57,800 on Feb. 21.
Although Bitcoin saw a steep drop within merely hours, analysts pinpointed that it fell to the exact bottom of a short-term trendline.
John Cho, the Director of Global Expansion at Ground X, noted that the drop was a liquidity fill at a lower price.
A liquidity fill simply means when an asset drops after stagnating to fill buy orders at the bottom of the range
A drop was expected because Bitcoin was consolidating with the futures funding rate at around 0.15%.
Across major futures exchanges, the Bitcoin futures funding rate was hovering between 0.1% to 0.2%, and it was particularly high for stablecoin pairs.
Bitcoin futures exchanges use a mechanism called funding to incentivize buyers or sellers based on market sentiment.
For example, when there are more buyers in the market, the funding rate turns positive. When that happens, buyers have to pay sellers a portion of their position every eight hours.
When the funding rate is high but the price of Bitcoin is consolidating, the risk of a big short-term drop increases.
The funding rate for altcoins, including Ether (ETH) and DeFi tokens, reset to around 0.05%. As such, altcoins saw a stronger bounce than BTC.
Misa Christanto, an analyst at Messari, said that in a bear market, everything is correlated. But Bitcoin, which is also considered a “reflation trade,” has been resilient. She wrote:
“US Treasury curve is steepening. Why should we care? Because in a bear market, everything is correlated. So far the headwinds have been on equity returns, on unprofitable tech names. Reflation trades like $BTC unaffected.”
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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.
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