- Bitcoin is still in the bearish zone
- Max Keiser bashed altcoins, saying no altcoin could do what Bitcoin does
- Keiser said Bitcoin is on its way to $100,000
Bitcoin News Today – Bitcoin, which has been trading in the green over the past few days, is now back in the red. The digital currency just plunged below a key support range, carrying most altcoins along. Altcoins have been all the rage over the past few weeks, surging by dozens of percent while Bitcoin remains stock around below the $9,500 mark.
This has also affected the dominance of the digital currency. The dominance of Bitcoin is now down to 62.86 percent while that of altcoins are increasing. Recently, the metric was rejected at a crucial trendline and analysts said it is signaling a forthcoming “altseason.”
Bitcoin (BTC) Price Today – BTC / USD
Max Keiser Bashed Altcoins, Says Altseason Will Not Happen
Max Keiser – a prominent BTC investor that co-hosts RT’s Keiser Report with Stacy Herbert – said that no such altseason will occur. The Bitcoin investor also bashed altcoins on July 9. In the recent episode of Keiser Report, Keiser said that all the competitors of Bitcoin will “be eviscerated” in the future. He said:
“So, all these altcoin posers and government subsidy-welfare bums will be eviscerated by the one true bitcoin. It’s about time…”
The RT’s Keiser Report co-host was referring to documents from the United States government showing that many digital currency companies received “PPP” loans. The latest belief of Keiser on the effectiveness of altcoins projects come right after he told Brian Rose of London Real that chances of Bitcoin being usurped by any altcoin are very slim.
According to Keiser, there is no digital currency out there that can do something that Bitcoin does not already do or will be able to do in the near term. In a comment, he said that the dominance of Bitcoin (BTC) is likely to reach 99 percent once again.
Keiser Predicts a BTC Rally to $100,000
Keiser did not only share his thoughts on altcoins, but he also gave a very bullish Bitcoin price prediction. The Bitcoin investor said that he believes the price of the digital currency is on its way to $100k, which marks an increase of more than 900 percent from its present levels. Recently, he told Alex Jones of Infowars that $100k might be too small, increasing his expectation for the digital currency to $400k.
“I am officially raising my target for BTC — and I first made this prediction when it was $1, I said this could go to $100,000 — I’m raising my official target for the first time in eight years, I’m raising it to $400,000.”