Bitcoin Price Cycle Will Repeat to $100k and Beyond

Max Keiser: Bitcoin Price Cycle Will Repeat to $100k and Beyond, Cointelegraph

Max Keiser has remained bullish on Bitcoin, forecasting at least a $100,000 price in the future in line with Russia Today.

The RT host tweeted Friday that despite the boom and bust cycles, Bitcoin would continue to defy naysayers and continue growing - first to $3,000, then $10,000 and “all the way to $100,000 and beyond.”

Keiser regularly publishes encouraging data along with comments on Bitcoin’s progress, as well as its favorable nature as an investment over fiat currencies or commodities such as gold.

In early May, he was even awarded gold for a “snooze fest of the decade award” for its years of comparatively sluggish performance.

Several weeks later, as Bitcoin experienced a correction from its near-$3,000 all-time high to below $2,000, Keiser remained positive.

“I survived the Bitcoin bear market from three hours ago,” he wrote on the day of the downtick.

Max Keiser @maxkeiser
I survived the Bitcoin bear market from 3 hrs ago. 👍😂
3:14 PM - 25 May 2017
84 84 Retweets 344 344 likes
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Curiously, the network on which he often espouses Bitcoin’s virtues initially failed to back his enthusiasm.

Following the correction, even as prices began to creep up to eventually recover the majority of losses, RT repeated comments from a CNBC analyst that Bitcoin would enter a downward spiral, bottoming out only in January 2018.

“We will see the bottom at the start of January, that is when stock markets typically tend to have a correction as well,” Nicola Duke had said.

The publication soon changed tack, this time highlighting comments from Saxobank’s Kay Van-Petersen, who had correctly called the $2,100 Bitcoin price in December 2016 and who now forecasts $100,000 a coin within 10 years.