With every passing week, Bitcoin seems to surge to new heights amid growing anticipation of widespread mainstream acceptance.
As the price of the founding cryptocurrency continues to soar, influential financial analysts, stock pickers, forecasters and pundits wax lyrical over it’s growing value.
Just a week ago, Russia Today show host Max Keiser speculated that Bitcoin would surge to $100,000 high in the future and now the American has hit out at conventional fiat currencies, which are the current lifeblood of the global economy.
According to RT, Keiser believes that the likes of the dollar will not be able to compete with the rising Bitcoin price.
“I think we are seeing fiat currencies in a hyperinflationary collapse against Bitcoin.”
“Bitcoin is a perfect currency, something that is utterly changing the global finance and market and is putting banksters and the central banks out of business. It should be applauded because they’ve been horribly bad actors. We need to get rid of them and let Bitcoin transform our world.”
His statements are nothing short of revolutionary as investors pile into multiple cryptocurrencies. While the likes of renowned stock picker Ronnie Moas advocates diversification of investments in multiple virtual currencies, Keiser believes Bitcoin will have no rival in the foreseeable future.
As the cryptocurrency market capitalization hits the $300 bln mark, Keiser suggested that major financial institutions will step away from conventional markets which could lead to an economic crash.
“That’s something that no central bank or country will be able to stop, and it’s becoming a real scenario, a real threat.”
Price correction at $25,000
As the Bitcoin train continues to hurtle down the tracks, the major question is when will it slow down?
Pundits have thrown around a number of predictions, but Keiser believes Bitcoin will only see a major price correction around the $25,000 mark. He also cautioned investors not to lose their heads and panic buy or sell.
“Don’t just buy a Bitcoin without knowing about it first. That way, when a correction does come and it inevitably will, you have some intellectual foundation to keep you in the game and to not panic sell. If you panic buy, you could just as easily panic sell.”
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