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Bitcoin pioneer Max Keiser, RT host of the Keiser Report and Orange Pill podcast says âBitcoin price is signaling fiat money around the world is in a hyperinflationary collapse against BTC. Please keep boosting inflation so my 2021 target of $220,000 comes sooner!â
Regarding the Bitcoin bulls short term BTC price target, Max tweetedâŠ
â$77,000 short term in play bitcoinâ
Currency instability and hyperinflation seemed unreal until a global pandemic struck, sending many nations into economic turmoil. Most economists began to wonder if the end of the pandemic would mean the birth of another Venezuela, which is currently facing a 438% (hyper) inflation rate.Â
However, like several other Bitcoin enthusiasts, podcaster, Max Keiser thinks inflation and the price of Bitcoin are correlated. Where fiat holders lose out, Kaiser thinks Bitcoiners will gain from the phenomenon. In a tweet, Keiser said that Bitcoin will surge in price, possibly to the $222,000 mark, within this year itself due to inflation.Â
Keiserâs opinion probably stems from the fact that companies and retailers look to the crypto as a store of value asset, making it a perfect hedge against inflation. Recently, experts even argued that since Bitcoin is immune to political shocks, more people will prefer the asset to decouple trade from âglobal events.â
Even though the price of Bitcoin may indeed surge, its path to the target could be volatile. In the past, the assetâs price has appreciated and even collapsed several times. But some stated that even as Bitcoin increased in price, the rate of inflation, and forecasts for inflation, âremained stable.âÂ
Some provide a contrary opinion that economies need a bit more inflation, not less. At the same time, they do not expect hyperinflation to occur again, after the last great recession.Â
Bitcoinâs finite supply, which may overcome inflation risks is what comforts many. However, this narrative keeps evolving as well. A case can be made for alts such as Ether to be a potential deflationary asset too. For instance, even without a hard supply cap, Ethereum could have a fee-burning feature that reduces its coins from circulation, allowing it to be another potential hedge, like Bitcoin.Â
In other trending Bitcoin News today:
Top Trader Says Five Altcoins Primed To Erupt As Bitcoin Sets the Stage for Explosion to $100,000
A closely-followed crypto trader who built his reputation after nailing the 2020 crash in Bitcoin says heâs looking at five altcoins that can potentially explode this month while Bitcoin undergoes a pullback.
The last coin Capoâs eyeing is Ethereum (ETH). Capo believes that the leading smart contract platform is brewing a bullish move against Bitcoin (ETH/BTC).
As for Bitcoin, the crypto strategist believes it will revisit support below $50,000 before resuming its ascent and climbing above $100,000 by June. Capo makes his prediction based on Bitcoinâs performance in March 2017.
âBTC possibility.â
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Show Notes / Resources:
#Bitcoin price is signaling fiat money around the world is in a hyperinflationary collapse against Bitcoin. Please keep boosting inflation so my 2021 target of $220,000 comes sooner! đđ https://t.co/NTqMmiH9YQ
â Max Keiser (@maxkeiser) March 15, 2021
December close: $28,992January close: $33,141February close: $45,240March 17 price: $55,000
We are only 3.5 months into the #bitcoin bull market. IMO BTC will not stop at $100K and will continue to S2FX $288K average price level (ATH will be higher). pic.twitter.com/skS6a7pepu
â PlanB (@100trillionUSD) March 17, 2021
https://cointelegraph.com/news/bitcoin-s-price-doubled-in-75-days-how-long-until-the-next-100-leg-up