Crypto lovers have something to cheer about as Bitcoin crossed the $10k threshold and sustained for more than a few hours. The crypto coin has gained more than 20% in a week and is comfortably placed over $10K after a long time.
This surge has made many people excited. Among them is Max Keiser, the famous Wall Street veteran who is known for his Bitcoin predictions. Keiser took to Twitter on 27th July to tweet about what would happen next.
He mentioned that Bitcoin will continue to climb high and go on to touch six figures. He said that it will go through a correction period at around $30K. The prediction was shared on the day when Bitcoin surprised many by crossing $11K and touching $11,200 mark.
There is no doubt that this news has come as a ray of sunshine for Bitcoin traders who have been eagerly waiting for the resistance to break. Compared to the earlier rise, this climb is said to have been stable as it took a long time and gradually pushed its way into the next threshold.
It is no surprise that Keiser was elated over this positive news. His ever-optimistic view of Bitcoin is coming true. He lost no opportunity to take a jab at Peter Schiff, who is equally famous for his love for gold and dislike for Bitcoin.
Schiff had earlier dismissed Bitcoin’s rise saying it had to either cross $10K or fold down. He focused on the increase in gold prices, which touched an all-time high. In his debate aired on YouTube on Sunday, Schiff told Anthony Pompliano, co-founder of Morgan Creek Digital, that Bitcoin was going to go down again. He referred to previous incidents where the price of Bitcoin crashed pretty bad soon after crossing $10K.
He wondered how much the crypto coin would fall after
this latest rise. Keiser, who invariably did not like the comment shot back in his prediction that Schiff was ‘puking his brains out right now’. He also went on to say how Schiff would be regretting his gold purchase.
Keiser also tweeted about his earlier statements regarding gold, silver, and Bitcoin. He reminded that it will become difficult to source gold and silver over time. This will invariably push people towards Bitcoin. He said that even those who do not like and never wanted to buy Bitcoin will be forced to do so.
Bitcoin’s Journey in 2020
While we cannot say for sure about what would happen next, we can see how Bitcoin has survived the worst fall this year. With the pandemic spreading, Bitcoin fell as low as $4K in March. This led to many speculations and questions. Some wondered if this was indeed the end of the famous cryptocurrency.
However, Bitcoin sustained its recurring falls and slowly crept back, gaining strength over the months. This does give hope to crypto lovers and prove that Bitcoin has managed not to get wiped out by the global crisis.
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