Analyst Keiser Remains Confident in $220k Bitcoin Target – No Need to Panic over Price Dip
Max Keiser, a prominent Bitcoin advocate and advisor to El Salvador’s president, recently shared his views on Bitcoin’s recent developments, specifically the approval of the spot Bitcoin ETF. He believes that this approval was a game-changer for Bitcoin and played a significant role in its recent surge to new highs. Prior to the SEC’s approval, brokers and major banks had imposed restrictions on customers looking to invest in spot Bitcoin exchange-traded funds, creating a unique situation on Wall Street.
Keiser sees the approval of the spot Bitcoin ETF as a catalyst that pushed Bitcoin’s price just above the $49,000 mark. He tweeted about the situation, noting that more than half of Wall Street brokers and banks were blocking purchases of any Bitcoin ETFs, which contributed to the delay in Bitcoin reaching new all-time highs. However, Keiser remains optimistic and urges the Bitcoin community to continue moving forward with enthusiasm.
Despite the recent decrease in Bitcoin’s price, other influential figures in the Bitcoin community, such as Samson Mow and Gabor Gurbacs from VanEck, have highlighted the long-term positive impact of the spot ETF approval on Bitcoin. Gurbacs points out that financial giants like BlackRock and Fidelity hold a significant amount of Bitcoin, with a stash 25 times larger than El Salvador’s treasury. This demonstrates the growing influence of institutional investors in the cryptocurrency market.
Keiser maintains his vision of Bitcoin reaching an astonishing price of $220,000, despite the recent 16% downturn since the peak triggered by the spot ETF approval. While Bitcoin is currently trading at $41,330 with a slight dip in the last 24 hours, Keiser remains resilient in his prediction. The crypto world eagerly awaits his bullish forecasts as Bitcoin’s rollercoaster ride continues.
In addition to Keiser’s predictions, there is speculation about whales buying Bitcoin and Ethereum, leading to a dump and potentially signaling the beginning of a bull run. This further adds to the excitement and anticipation within the cryptocurrency market.