Max Keiser, the well-known TV personality famed for his show The Keiser Report among other publications about finance, markets, and the economy, has recently stated that Bitcoin (BTC) could soon break through it’s all-time high and reach $28,000.
There’s very little supply between here and new ATH.
$28,000 still in play. #Bitcoin
— Max Keiser, tweet poet. (@maxkeiser) May 26, 2019
According to Keiser, Bitcoin’s limited available supply will boost Bitcoin’s price higher and faster than most people expect.
How he came up with a price target of $28,000 is not explained, but we can assume it’s well calculated and thought out, as Keiser is a renowned economist with a provable track record of successful predictions.
Max Keiser Says Bitcoin’s Circulating Supply Is Very Limited
Currently, there are just over 17.7 million bitcoins in circulation.
However, 1 million of these tokens belong to Satoshi Nakamoto (the creator of Bitcoin) and have never been moved and are thus considered to be dead tokens. Also, an additional 3 to 4 million bitcoins are estimated to be lost forever.
Therefore, there are potentially only around 12.7 million bitcoin in circulation. A large number of these bitcoins are not even liquid, meaning hodlers of last resort are storing these Bitcoins for the long-term in cold storage.
Taking all of this into account, it’s easy to understand just how limited bitcoin’s supply really is, making Keiser’s $28,000 prediction in the near term very believable if interest in Bitcoin continues to rise and real FOMO kicks in.
Keiser’s Success With His Predictions
The fact the Keiser made such a bullish near-term price prediction for Bitcoin cannot be underlooked. He is highly experienced in the field of finance, economics, and markets, and has made correct predictions in the past.
For instance, in November 2012, he predicted that the UK pound was going to collapse, and advised investors to buy Bitcoin and precious metals such as gold and silver in order to undermine “the banksters.”
His prediction came true, and the FTSE 100 index followed suit shortly after:
Image Source: https://www.bbc.com/news/business-36611512
All in all, Keiser is a well-respected individual in the financial space, and what he says should not be taken lightly. If we continue to see Bitcoin blow through key resistance levels, it may very well be on its way to $28,000. All we can do is wait and see.
Do you think Bitcoin is on a trajectory towards breaking all-time highs in the near term? Let us know what you think in the comment section below.