Joe Biden and Kamala Harris have been declared the winners of the US election, but the biggest winners emerging from the stiff competition are China and bitcoin investors, according to the analyst. cryptocurrency Max Keizer.
RT̵7;s Keiser Report host said the change in government “will trigger bitcoin as the rich globally try to escape.”
Keizer, who has been urging viewers to invest in bitcoin since it was $ 1, believes the top cryptocurrency asset will skyrocket to $ 400,000, about 20 times its all-time high at December 2017.
While he hasn’t made it clear exactly when it will hit that astronomical price target, he is confident it will hit $ 28,000 by January 20, the day of inauguration.
He believes that the Biden administration will take a weak stance towards China, fuel its rise as a global power, and like the Trump administration is now, devaluing the US dollar through incessantly printing money to address the economic impact of Covid- 19 pandemic.
Noting that the legitimacy of the November 3 election results was captured by Trump’s election campaign, Keiser tweeted on November 6: “A Biden * victory will lock down China’s global supremacy , breaking US dollars, sending Bitcoin to 400,000 dollars.
“This is because $ 100 billion in globally managed funds will begin to allocate into Bitcoin for the exit.
“Expect Bitcoin to reach over $ 28k before Inauguration Day.”
Seemingly triggered by Biden’s post-election speech, Keiser then tweeted: “As he gets closer to WH the panic buying of BTC from smart money will increase exponentially. His plan was to: – Immediately print 30 trillion dollars or more – Throw the keys to Wall St, who will do another year of 2008 and steal our blindness. “
Keiser’s $ 400,000 price prediction may seem incredibly unbelievable to some, but it’s on the same level as the predictions of other reputable crypto analysts, including tech pundits. of Silicon Valley Tim Draper, who believes it will be at least $ 250,000 by the beginning of 2023. Draper previously predicted that bitcoin would hit $ 10,000 by the end of 2017, considered strangely optimistic. at the time but turned out to be quite cautious.
The one who is more optimistic than both Keizer and Draper is Raoul Pal, founder of Real Vision. Goldman Sachs’ former hedge fund manager believes it will reach $ 1 million due to a “huge wall of money” entering the market.
An increasing influx of corporate cash, which began with MicroStrategy moving its US dollar treasury into assets earlier this year, is expected to push prices up regardless of whether the retail side of the market meets. must case another crypto fever or not, as it did in 2017.
Analysts are currently buying more bitcoin than miners are producing, which means a decline in supply will almost put upward pressure on prices, according to analysts.
Prices have skyrocketed
The bitcoin price has risen dramatically recently, signaling what observers believe is the start of a massive bull run that could last for 12-18 months.
At the time of publication (11:55 p.m. in Hong Kong), the bitcoin price was $ 15,331, according to CoinMarketCap, up $ 4,850 as of October 1 and $ 10,170 since the crash that caused the pandemic in October. 3.
When President Donald Trump was elected in 2016, the bitcoin price of $ 701 was relatively low.
Read: Bitcoin may be the only asset worth owning: Raoul Pal