Celebrated TV host Max Keiser has raised his Bitcoin price forecast to $400,000 for the first time in 8 years. He made this prediction public while speaking to Alex Jones on the Infowars show on Feb 17.
According to Keiser, his initial prediction of $100,000 made in 2012 was too conservative as he thinks Bitcoin price is going to surge further in the future. However, the Keiser Report host did not provide a specific time frame for his forecast saying
I am officially raising my target for Bitcoin — and I first made this prediction when it was $1, I said this could go to $100,000 — I’m raising my official target for the first time in eight years, I’m raising it to $400,000.
The renowned Bitcoin maximalist stated that he was unfazed by the cryptocurrency’s short term volatility and acknowledged that its prospects are still positive. In his opinion, Bitcoin remains equally as attractive right now as it was when he made his original forecast 8 years ago. Notably though, Bitcoin is yet to hit the $100,000 price projection Keiser made in 2012 and would require a 10x price surge from its current level to reach that forecast. More importantly, the digital asset value requires a 40x growth to hit the recent prediction of $400,000.
The good news… is that Bitcoin at $10,000 or $9,300 is equally as attractive as it was when it was $100
While defending his extremely bullish price prediction, Keiser stated that right now is just the beginning with the digital currency poised to reach new heights in the future. He argued that Bitcoin is currently undervalued and that people should take the opportunity to invest in this revolutionary money of the future. He further clarified that his forecast is based on the value of gold, labelling Bitcoin as gold 2.0.
In his part, Alex Jones, the Infowars show host, said that his reason for not getting into Bitcoin is his lack of understanding about how the cryptocurrency works. He stated that this feeling of inadequate knowledge was the reason he is not able to promote Bitcoin to his audience. Also, in response to Keiser labelling other altcoins as scams, Jones stated that the controversies surrounding cryptocurrencies are another reason he had chosen to stay away.
This is your opinion, I don’t even really know who these guys are … That’s another reason I’ve stayed away from it, it’s all the fighting in the cryptocurrencies, I don’t like infighting.
Nonetheless, Jones accepted that Bitcoin was a force of good with the ability to bring economic liberation to many people across the globe
Things like bitcoin … It’s just like the power of fire, not just being with the gods but being given to Prometheus.
Keiser’s prediction adds to a growing list of bullish forecasts from industry experts and market analysts. For now Bitcoin remains on a bullish path with investors and the entire crypto community hopeful that these predictions come to fruition.
Image courtesy of Pixabay
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