Heisenberg Capital, major crypto fund, has stated its position on the future of internet currency. In a recent tweet, the company said, Bitcoin (BTC) is the only cryptocurrency that will survive and will be responsible for killing all the altcoins as it grows.
The tweet that was courtesy of Max Keiser, the founder of Heisenberg Capital, also emphasised his position on the $100,000 price for Bitcoin. Apparently, Keiser predicted the price for Bitcoin back in 2011, but the market hasn’t been so friendly to push Bitcoin up so fast, particularly after the 2017 all-time high.
As there are die-hard altcoin fans who have faith that they will see a phenomenal growth for their coins of choice, not everyone in the cryptospace agrees with his predictions. However, some experienced traders and analysts in the industry agree with Keiser.
A cryptocurrency trader Scarface projects that only a dip in BTC price by some hundred dollars would give altcoin a limited chance to partake of the many predicted bull market that is anticipated to come after BTC breaks through $6,000. This implies that Altcoins have no chance of seeing any significant rally in case BTC doesn’t dip significantly before s surge above $6,000.
Keiser has been a promoter and lover of both cryptocurrency and blockchain technology. His firm notably has contributed to establishing cryptocurrency exchanges including ShapeShift, Bitfinex and Kraken. Also, he is one of the industry’s most influential Bitcoin bulls.
Though he’s not alone! One analyst, namely Galaxy, recently predicted that BTC could hit $330,000 by the end of 2021. As he says, in case the current market reflects the pre-2017 bull market, then the price, by simple calculation, would be at least $330,000 in just 2 years.
Another prominent figure of the industry and an aspiring US president, John McAfee, has also predicted a $1 mln price for BTC by 2020. Earlier he predicted the price to be at $500,000, later said BTC growth was too fast for it to stop at half a million dollars by the projected time.
If Keiser’s prediction comes true, then several exchanges like the ones he helped build will be affected adversely since they all trade in many altcoins, some of which will surely die, says expert.