Analyst Max Keiser is convinced that the next US president’s economic policies and stand on China will send bitcoin to $400K. On November 7, Joe Biden and Kamala Harris were declared the winners in the US election. But, the biggest winners who have come from the bitterly contested election are bitcoin investors and China, as explained by the analyst.
The RT’s Keiser Report host explained that the change in government:
“will trigger a stampede into bitcoin as the global wealthy attempt to escape.”
For some time now, Keiser has been imploring his viewers to invest in bitcoin since it hit $1. He thinks that the flagship crypto will explode towards $400,000 which is around 20 times its December 2017 all-time highs.
While he never specified exactly when it will reach these levels, he is convinced that it will rise to $28,000 by January 20 which is the day of the inauguration. Keiser thinks that the Biden administration will take a weaker stand on China which will fuel its surge as a global power.
Just like the Trump administration is doing, Biden will debase the US dollar via extensive money-printing that is aimed at addressing the economic effect of the COVID-19 pandemic.
While taking into context that the legitimacy of the election results has been contested by the Trump campaign, Keiser tweeted:
“A Biden win* will lock China’s global supremacy, crash the US dollar, send Bitcoin to $400,000. This is because $100,000,000,000 in global managed funds will start allocating into Bitcoin to escape. Expect Bitcoin well above $28k by Inauguration Day.”
A Biden win* will lock China’s global supremacy, crash the $USD, send #BTC to $400,000 – as $100,000,000,000 in global managed funds start allocating into BTC to escape. Expect BTC well above $28k by Inauguration Day.
— Max Keiser (@maxkeiser) November 6, 2021
While reacting to Biden’s post-election speech, Keiser tweeted later on:
“As he gets closer to WH the panic-buying of BTC from smart-money will ratchet up exponentially. His plan is: – Immediately print $30 trillion or more – Throw the keys to Wall St who’ll do another 2008 and rob us blind.”
#Bitcoin pumps on Biden speech as I’ve been saying… As he gets closer to WH the panic-buying of BTC from smart-money will ratchet up exponentially. His plan is:
– Immediately print $30 trillion or more
– Throw the keys to Wall St who’ll do another 2008 and rob is blind
— Max Keiser (@maxkeiser) November 8, 2021
Bitcoin Price Prediction
Keiser’s $400,000 price forecast may seem quite implausible to some. However, it is in the same region as those of many other respected crypto analysts like Silicon Valley tech guru Tim Draper. Draper thinks that bitcoin will rise to $250,000 by early 2023. In the past, he predicted that BTC would reach $10,000 by the end of 2017. At the time, the prediction was considered ridiculously optimistic but it turned out to be quite conservative.
Real Vision founder Raoul Pal is even more optimistic than Draper and Keiser. The ex-Goldman Sachs hedge-fund manager thinks that it will reach $1 million as a result of an “enormous wall of money” entering the market.
Today, a significant influx of corporate money is expected to drive the price higher irrespective of whether the retail side of the market gets another case of crypto fever, as it did in 2017. It began with MicroStrategy shifting its US dollar treasury into the asset earlier in 2021.
Corporate players are now buying more bitcoins than miners are producing, it means there is a looming supply crunch that will put upward pressure on the price, according to different analysts.
Price Already Surging
The bitcoin price has been rising considerably in recent weeks. This signals what observers think that it is the start of a major bull run that may last for 12-18 months. At the time of writing, the price of bitcoin was hovering around $15,000 according to CoinMarketCap, up by $4,550 since October 1 and $9,870 since the pandemic-triggered crash that happened in March.
When President Trump came into office in 2016, the bitcoin price was a comparatively small $701.