• An economic crash caused by the Coronavirus could lead to Bitcoin hitting USD 100,000 according to Max Keiser

Max Keiser, a well-known financial pundit and Bitcoin influencer, is predicting that Bitcoin will hit USD 100,000 in 2020, specifically saying: “This is the global financial crisis that will catapult the price to USD 100,000 and beyond.”

Essentially, retail sales, manufacturing, trade, travel, tourism, and work production have been sharply declining worldwide in response to the Coronavirus, due to quarantines and other measures designed to prevent the spread of the virus. This has already caused the stock market to become highly volatile and weak, and it seems Keiser is predicting that this stock and economic crisis will drastically deepen, causing investors to flock to Bitcoin as an alternative safe-haven investment.

Further, Keiser says “Now Bitcoin will experience part two of the global financial crisis, it’s already close to USD 10,000 a coin.” Basically, Bitcoin was launched during the 2008 Great Recession, and it can be argued that the current financial crisis is a continuation of the 2008 Great Recession, since the debt and equity bubbles have carried on from that crisis into the present day.

It remains to be seen if Keiser’s prediction will pan out, but another highly positive factor for the Bitcoin market is that the block halving is coming in only two months, which further increases the chances of a major Bitcoin rally.

 

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