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Wall Street veteran Max Keiser is forecasting a severe Bitcoin supply crisis on the horizon that will force institutions to buy BTC at significantly higher levels in an instant.
In The Orange Pill Podcast, the Bitcoin firebrand says huge gap ups in BTC price may be in store for Bitcoin as institutional investors scour markets for supply of the scarce asset.
“Over the last couple of years, we’re transitioning from fake volume to real volume and that’s kind of like churning through an overhead or a supply of volume to create the price discovery.
Pretty soon what I think is going to happen is that the Michael Saylor type or a corporate type or an institution will come in with an order to buy $10 billion to $20 billion worth of Bitcoin and suddenly within a few trades, they’re going to be discovering there’s no supply at all and then suddenly the price will gap from $37,000 to $47,000 to $52,000. It could happen in ten minutes because the markets kind of lulled people into a sense that there is supply out there.
It’s churning through all that bullshit supply and then once that’s all gone, the institutions are going to be in for a rude awakening because they won’t be able to source any coins at any price until it gets a lot higher. So I think the next break is going to be a gap. It should suddenly gap higher and then that’ll be a big story.”
Keiser also sees a future where Bitcoin is widely-adopted to escape the questionable monetary policies of central banks.
“As central banks continue to erode and the problem continues to get worse and there’s no new solutions or thinking just to continue doing the same broken thing, you’re going to see Bitcoin gallop higher which isn’t going to attract more capital and you’re just going to have this bifurcated global economy. There’s going to be a Bitcoin economy in a Bitcoin world and a Bitcoin life and people living the Bitcoin life and there will be everybody else.”
In other trending Bitcoin News today:
“ETH breaks out vs. Bitcoin — What’s next for Ethereum after 100% gain in January?”
The price of Ether (ETH), the native cryptocurrency of the Ethereum blockchain network, achieved a new all-time high on Jan. 25.
At the same time, technical analysis shows that the ETH/BTC pair is breaking out of its multi-year downtrend hitting the highest levels since September 2019, which should be great news for altcoins in general.
The higher highs come less than a week after ETH/USD finally broke its all-time high, surpassing $1,400 for the first time in three years.
The sentiment around Ethereum has become significantly positive after ETH managed to break its previous record price set in January 2018.
Anthony Sassano, a long-time Ethereum investor and the head of marketing at Set Protocol, said that the rally is representative of the groundwork accomplished by developers in the Ethereum ecosystem throughout the past three years.
Throughout the 2019 bear cycle, ETH was hit the hardest among other large-cap cryptocurrencies. It consistently underperformed against BTC, struggling to gain upside momentum.
But the newfound momentum as a result of the rising demand for DeFi has allowed ETH to outperform Bitcoin in the recent bull cycle. Sassano said:
“This may be hard to believe but the main reason I get so giddy about $ETH going up in price is not the profits. It’s the fact that so many dedicated Ethereum community members spent 3 long years building during a brutal bear market. And now their work is being rewarded.”
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Show Notes / News Resources:
– Max Keiser Bitcoin Prediction: https://bit.ly/3oevjq4
– Ethereum Hits New ATH: https://bit.ly/3okG3TI
DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. 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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