Altcoin Craze Ending – Value Will Flow Into Bitcoin

Max Keiser

American broadcaster and also known bitcoin bull Max Keiser, believes that the future cryptocurrency market rally will not include altcoins.

In a recent interview with CNBC, Max Keiser made a statement virtually guaranteed to invoke extreme criticism and intense debate when he suggested that the cryptocurrency market rally will not include altcoins.

Keiser explained that with the progression of the cryptocurrency space and adoption of Segregated Witness (Segwit) and the Lightning protocol, a lot of people started to better comprehend the store of value bitcoin offers, as well as scaling that would come about off chain. This, per Keiser, made crypto owners move their funds back into “the most secure chain [bitcoin]”.

Keiser even further proposed that altcoins are going to pennies or maybe out of existence, considering that “all that cash is going to flow into bitcoin.” He speculated that with bitcoin’s market current dominance 60%– which Keiser purports could go to 80%– 90%– “the altcoin phenomenon is finished,” he mentioned.

Fairly recently, veteran trader and author Peter Brandt predicted that bitcoin will continue to grow however altcoins will not feel the real benefits. Brandt said that as opposed to the previous bull market cycle in 2017, bitcoin’s gains would not have a knock-on effect elsewhere. He summarized, “Cryptomaniancs expect alts to do so again– they may be very disappointed.”

Bitcoin to 100000

In late June, ThinkMarkets chief market analyst Naeem Aslam prophesied that bitcoin will go to somewhere between $60,000 and $100,000 during the course of its next bull run. He argues that by hitting $20,000, discussion will move from conservative estimates going beyond the number one coin’s all-time high to forecasts of $50,000; from there, breaking $50,000 will drive the price target to $100,000.

Subscribe To CryptoScoop News

Sign Up To The Latest Crypto & Blockchain News
Informed Analysis And Opinions On What Matters To You.
Invalid email address
We promise not to spam you. You can unsubscribe at any time.