Bitcoin has had a remarkable run since the start of 2021, rising from a January trading price of $29,599 to the current level. After the cryptocurrency had a modest start to 2021, it soon picked up momentum, providing a huge boost to the portfolio of many investors.

Max Keiser, a pro-Bitcoin advocate and crypto podcaster has suggested that speculators who follow the cryptocurrency are getting ready for a fun ride to $220,000. After Bitcoin broke the $30,000 barrier for the first time since June last year, Keiser maintained the same positive rhetoric and anticipated a massive spike to the said figure.

This would not be the first time the Bitcoin proponent would speak along the lines of a $220,000 forecast of Bitcoin's price. He has voiced this opinion on numerous occasions, and now this year it continues. As reported, Keiser predicted that the $220,000 price forecast for Bitcoin would come in a flash.

This month, investors are rushing to Bitcoin as a result of banking sector turmoil, causing cryptocurrecy inflows of $57 million last week, with the majority of the funds going to Bitcoin, according to digital asset manager CoinShares.

Investors are also anticipating the outcome of the U.S. inflation report on Wednesday in relation to the Federal Reserve’s monetary tightening policy.

So far this year, Bitcoin has been on a remarkable rise in price, soaring from $29,599 on Janurary 2nd to an intraday high of $30,430 today. After experiencing a tepid start to 2021, the largest cryptocurrency by market cap has since gained 86%, making it an attractive option to investors interested in taking advantage of the current market situation.

Max Keiser's positive outlook on Bitcoin's growth this year has added fuel to the fire, rebuilding investor confidence amidst the U.S. economic slowdown. His vision is that Bitcoin will reach $220,000, and he believes that this price point will be achieved in a relatively short period of time.



Other News from Today