The current surge in Bitcoin price that has so far peaked at $11,380 is expected to continue surging beyond its all-time highs. That is a prediction made by Keiser, a Wall Street veteran.
Bitcoin will not stop surging until it hits $28,000 and Keiser thinks that will happen as the flagship crypto gains more than 20% in a week. On July 27 he said in series of tweets that BTC/USD will head for six figures after a correction period that is expected to happen near $30,000.
Keiser predicted Bitcoin’s price action as the crypto surged above $11,200 in a day filled with surprises. According to previous reports, $10,000 managed to hold for longer than a matter of hours. Data collected indicated that the latest trip to the five figures was stronger than others in 2020. Keiser summarized:
“$28,000 is in play before we see a pullback – and then we’re heading to 6-figures.”
Famous for his optimism and heavy support for bitcoin over the other cryptos, Keiser also took a swipe on Peter Schiff, a gold bug. Schiff is also celebrating after gold hit all-time highs against the US dollar. But, he had previously dismissed Bitcoin’s rise.
“It’s put up or shut up for Bitcoin — it’s got to hold $10,000 now.”
He said during a debate with Morgan Creek Digital co-founder, Anthony Pompliano. Keiser had little time for this and Schiff’s other arguments, alleging that the Bitcoin skeptic was secretly regretting his selection of gold. The same tweet reads:
“Somewhere, @PeterSchiff is puking his brains out right now.”
Bitcoin Price Is Becoming Interesting
According to previous reports, gold is part of a haven boom that is experiencing impressive performance across the assets as the US dollar weakens. Another major stimulus injection from the Federal Reserve, inflating the money supply, has combined with geopolitical tensions and the continuing COVID-19 outbreak to produce fears among investors.
Currently, Bitcoin is oscillating above $10,700 after hitting highs of $11,380 overnight. But some analysts believe that even flipping a bit lower levels as support may be a major turning point for BTC, with $10,500 formerly acting as a severe resistance. He published on his Telegram trading channel:
“Breakout! $10,500 the level that needs to become support… then… then things get really interesting,”
For now, analysts and commentators are watching the markets awaiting the next price action from the flagship cryptocurrency.