TL;DR Breakdown
- Scarcity of Bitcoin may cause price hike.
- Institutions could end up purchasing huge amounts of BTC.
The popular cryptocurrency analyst, commentator and BTC bull, Max Keiser forecasts a supply woe for BTC which will result in Bitcoin reaching a new all-time high. He further states that big financial institutions will be investing a staggering amount of funds into Bitcoin.
Scarcity of Bitcoin may cause price hike
Keiser stated that decline in the availability of Bitcoin will make financial institutions buy Bitcoin and that will cause another price spike. He made this statement in an interview with Take the Orange Pill.
Keiser clarified that the market for BTC has transformed from being a fake volume market to a real volume market in the last few years. The cryptocurrency commentator stated that the scrambling of the investors over the available supply was what made room for the growth of the crypto asset over the years.
Huge funds would be poured into Bitcoin
Speaking to the host, he said that in a short while, either an individual type such as Michael Saylor or a corporate type or a financial institution will arrive, trade for a short while and decide to purchase $10 billion to over $20 billion worth of BTC. He added that when this happens people will realize that they are short on supply and the value of BTC will start rising. He said it could rise to more than $50K.
Keiser stated that, owing to the current BTC drop following its failure to remain above $35K yesterday, several cryptocurrency traders have been given a false hope that there is much supply of BTC. He cautioned that Bitcoin price may surge within the space of few minutes as a result of the impact of huge purchases made by financial institutions.
He predicted that the power of Central Banks will decline and that would result in the birth of several economies. The crypto analyst predicted a coming world of BTC which would have an economy of BTC for people who choose to live the life of BTC, then another world, another economy and another life for everyone else outside of BTC.
