Max Keiser, who is a well known financial pundit and Bitcoin influencer, is predicting that Bitcoin (BTC) will rally to $100,000 due to the Coronavirus. Specifically Keiser says “This is the global financial crisis that will catapult the price to $100,000 and beyond.”
Essentially, due to quarantines and preventative measures, retail sales, manufacturing output, travel, tourism, and work production are all taking a major hit. This combined with fear has caused some of the biggest losses on the stock market since the 2008 Great Recession, although Central Banks are trying to soften the fall with interest rate cuts and liquidity injections.
Keiser also says that the Coronavirus induced economic meltdown this year is part two of the global financial crisis which spawned Bitcoin (BTC) in 2009. Indeed, the 2008 Great Recession was never truly fixed, instead the government pumped in trillions of dollars and kept the banks and corporations alive which caused the crisis in the first place, leading to a massive equity and debt bubble. Considering that, it could be said that the Great Recession of 2008 never ended.
It remains to be seen if Keiser’s prediction will pan out, especially since Bitcoin (BTC) has failed to gain value in the last month despite a highly turbulent and weak stock market. However, if investors start flocking into Bitcoin (BTC) as a safe haven, $100,000 does seem possible, especially in combination with the May block halving.