Prominent Bitcoin Maximist Max Keizer Believes Bitcoin Still Has a High Potential to Reach $220,000 This Year
Bitcoin maxi, trader and podcaster Max Keizer has again shared a prediction that Bitcoin will rise to the $220,000 level during the course of the year.
He had tweeted in 2022 several times in the past, but now he gives a solid reason why this is likely to happen.
“$220,000 in 2022”
Keizer shares one of the reasons often cited by Bitcoin Maxis for future unlimited BTC growth — 21 million — which is the strongly limited bitcoin supply programmed by its mysterious creator, Satoshi Nakamoto. In addition, every four years there is a so-called halving, when the amount of coins minted is halved. With over 18 million bitcoins already mined, it will take several years to produce the remaining three million.
The last BTC halving took place in early May 2020, so the next halving is expected in 2024.
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Only 21 million coins can be minted, and there is no way in the universe to increase that amount. Unlike bitcoin, other digital currencies have trillions and quarters of coins in supply.
#bitcoin $220,000 is still in the game in 2022. pic.twitter.com/Be2CCbGszn
— Max Keiser: Bitcoin Pioneer (@maxkeiser) June 19, 2022
Three Reasons to Kill Hitting $220,000
As the year started, Keizer shared the key reason why bitcoin is likely to hit $220,000. Keizer believes that a higher rise in the price of BTC will be preceded by a massive increase in the hash rate of Bitcoin.
On January 2, the bitcoin hash rate reached an all-time high of 203.5 exhash, while BTC was trading at the level of $47,000 on centralized exchanges.
So far, bitcoin has lost more than half of that value, exchanging hands at $20,587.
El Salvador President Comments on BTC Drop
El Salvador President Nayib Bukele—the first state to adopt bitcoin, which he did last year—tweeted to comment on the current bitcoin plunge.
In his tweet, he emphasized that those who bought the global major digital currency before the price fell, their investments are safe and will see a significant increase in value after the bear market is over.
He said that patience is necessary here. Leading economist and investor Peter Schiff disagreed with Bukele, reminding him that bitcoin’s value has already fallen 75%, also suggesting that no one knows whether the market will recover the levels it lost during this market carnage. will get from
That advice is as bad as your advice on top buying. How can you say investing in it? #bitcoin Is it “safe” when it has already lost 75% of its market value? You have no idea how far the price will go down during this bear market, or if the price will ever recover to the current levels.
— Peter Schiff (@PeterSchiff) June 19, 2022
