Max Kaiser “In the long run, cryptocurrencies will absorb fiat money”

Like any new technology, Bitcoin has its supporters and critics. The former try to see only the advantages of the blockchain technology, which underlies the cryptocurrency, the latter, on the contrary, ignore the advantages and draw attention to the disadvantages. Both sides constantly make harsh statements that cause controversy among the community. This time, the well-known cryptocurrency investor and founder of Heisenberg Capital Ltd. Max Keiser stated that in the long run the price of the first cryptocurrency will only grow. When quotes reach $ 100,000, Bitcoin will absorb the usual fiat money.

The price of Bitcoin since the end of December is rapidly falling. The decline in quotes is already more than 80% of the peak, which is at $ 19,500. Commenting on this situation, Kaiser said that this drop is nothing more than a “standard pullback” that the market needed because the price in 2017 took off too much. A businessman bought his first coins back in 2011 for $ 1 dollar and now can safely talk about the frequency of ups and downs. According to him, at the moment the “cryptocurrency winter” has come.

“If you look at the chart from the very beginning to the current date, you can see that it is still bullish. Personally, I bought my bitcoins at a price below $ 200, ”he said.

Given that Kaiser has 30 years of experience on Wall Street, he can be confident in his opinion. He even allowed himself to joke to the US Securities and Exchange Commission (SEC), saying that perhaps they do not quite understand the state of affairs in the cryptocurrency market.

“It seems to me that at the moment market players see Bitcoin as a risky asset. However, at some point they will realize that bitcoin is a safe haven like gold. After that, huge capital will flow into cryptocurrency, ”he said.

Although Kaiser said that in the long run, Bitcoin has every chance of overcoming the $ 100,000 mark and surviving fiat money, on the other hand, he is not sure that humanity will be able to reach this point. According to the veteran of Wall Street, people can pollute the environment so much that they simply outlive themselves.

Recall that the founder of Heisenberg Capital in October 2017 managed to predict a rise in Bitcoin price above $ 10,000. He noted that there is a constant influx of new users, and therefore the first cryptocurrency will not be difficult to overcome this mark and gain a foothold above it.

I believe in this only if it happens not in our country, so you need to look and observe how the market will develop and what the rate of cryptocurrency will be.

At this point in time, it turns out that fiat money is just much stronger than cryptocurrency, because see how much the main cryptocurrency is worth now?

No one can know in advance what will happen in a year or two, so it is important to live for today, to analyze the past in order to avoid mistakes in the future.

This is an ideal scheme to which everyone is so eager, but so far there is no light at the end of the tunnel. Let’s see what else will result in the fall of the main cryptocurrency and to what level it will fall.

Everything should remain in place. Should not interfere with one another in the development even more. So I think this is a very long process in fact.

And maybe this will happen, but not during our lifetime. Maybe 50 70 years is necessary in order to make it a reality. It all depends on which course is initially chosen.

When everything comes to an end, it seems to me that this end will be here for a very long time, because all the same, there is resistance from the whole industry to the rules that dictate. So you need to look at the result.