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In a latest improvement, Bitcoin proponent and crypto advisor to El Salvador’s President Max Keiser has made a future prediction for the Bitcoin value, becoming a member of the ranks of analysts who’ve made bold assertions in regards to the flagship cryptocurrency’s trajectory. 

Keiser Says Bitcoin Price To $220,000

In a tweet shared on his X (previously Twitter) platform, Keiser acknowledged that the Bitcoin value will expertise an explosive rise to $220,000 within the brief time period. However, he didn’t specify how quickly the crypto token would see such a rally. He made this assertion in response to a CNBC article in regards to the present decline within the monetary market amid financial and inflation considerations.

In a subsequent tweet, Keiser as soon as once more reiterated that Bitcoin would rise to $220,000 as he claims that “Central banks will print a wall of money visible from outer space.” His perception appears to stem from the truth that many might be trying to make use of Bitcoin as a hedge in opposition to rising inflation. 

He even alluded to the truth that the US greenback was shedding its buying energy “at a very rapid pace.” He gave an occasion of how paying $100 for hamburgers years in the past appeared like a joke, however he had simply spent “$84 for a very ordinary hamburger.” 

For the longest time, Keiser has been bullish on the foremost cryptocurrency. In 2011, he called Bitcoin the “currency of the resistance” and the “biggest story of the decade.” Additionally, he at all times touted a financial collapse as what would spark an enormous rally within the Bitcoin value. Then, he acknowledged that Bitcoin’s adoption and value will enhance as banks collapse. 

Arthur Hayes, the co-founder of BitMEX, additionally shares related sentiments with Keiser. He recently stated that the federal government would possible resort to cash printing to save lots of the bond market, which might result in a meteoric rise in Bitcoin’s value and different cryptocurrencies. 

BTC bulls battle to take care of management | Source: BTCUSD on Tradingview.com

Is Inflation Good Or Bad For Crypto?

There appear to be divergent views on how rising inflation might have an effect on Bitcoin and the crypto market by extension. While folks like Keiser and Hayes see rising inflation as bullish for Bitcoin, others like Crypto analyst Nicholas Merten believe that inflation might spell extra bother for Bitcoin’s value. 

According to Merten, the Federal Reserve must preserve mountaineering rates of interest to deliver down the inflation charge as there’s extra cash within the system as a result of “excess printing of money.” Meanwhile, Bloomberg analyst Mike McGlone warned that the rising rates of interest might trigger an extra decline within the Bitcoin value. 

There additionally appears to be a correlation between the stock and crypto markets. As such, it doesn’t appear to be Bitcoin and the crypto market exist in isolation, as any monetary disaster might considerably impression it. 

Featured picture from The Face, chart from Tradingview.com