Category Archives: Max Keiser

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Max Keiser: Bitcoin Price Rise to Follow Increasing Hashrate

Journalist and former Wall Street trader Max Keiser has expressed his views that with the Bitcoin hash rate reaching another all-time high and 15% spike this month, an increase in the value of Bitcoin will be triggered.

Sharing a post on Twitter illustrating the growing hashrate in a graph, Keiser wrote: ”My mantra since $3. Price follows hashrate. If you don’t understand this then you don’t understand Bitcoin.”

My mantra since $3. Price follows hashrate. If you don’t understand this then you don’t understand #Bitcoin. Sorry, but dem the facts, Bro pic.twitter.com/DchJEkONfA

— Max Keiser (@maxkeiser) June 19, 2018

The Bitcoin hashrate saw a 15% gain through June before reaching the highest levels to date, despite a decline in transaction volumes and Bitcoin’s price valuation. This growth strongly indicates more parties are choosing to invest in the cryptocurrency despite the rocky market.

Hashrate refers to the aggregate computing power of the Bitcoin network, reflecting the number of tries a unit can make when attempting to solve one of Bitcoin’s computational puzzles required in the mining process.

Reaching the Bitcoin bottom

Keiser is not the only prominent industry figure to anticipate Bitcoin is ready to rebound.

Speaking to CNBC this week, president of commodities brokerage and trading firm Blue Line Futures Bill Baruch noted that Bitcoin’s recent price plummet was a sign of selling becoming exhausted. Now the price and volatility are stable, Baruch believes the bottoming process can begin.

He also advised investors not to sell Bitcoin below the price of USD 10,000, as he sees it as likely to have enormous payoffs for those willing to hold in the long run.

CEO of the Blackmore Group and Wealthchain Group, Phillip Nunn also reaffirmed his Bitcoin prediction this week, standing by his belief that the cryptocurrency would reach USD 60,000 by the end of the year.

Nunn had also expressed a belief that Bitcoin would drop to USD 6,000 in the first half of the year, which has already been met. Nunn, however, believes it is predominantly blockchain technology that will lead to the boom of cryptocurrencies.

 

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Bitcoin Bounces Back Increasing $1,000 in One Hour, Sets $1.2B Trading Volume Record

Bitcoin has bounced back after a bumpy ride over the last few months. Prices surged upward in a steep motion today, showing an increase of over USD 1,000 in only an hour’s span of time according to data pulled from bitcoinity.org. The flurry of trade also set a new hourly record of Bitcoin trading volume, with USD 1.2 billion worth of Bitcoin changing hands.

This significant jump was followed by a slight drop, with a price point averaging USD 7,700 at the time of writing.

 

 

Bitcoin bounces back
Chart data and image courtesy of bitcoinity.org

The increase was welcomed by Bitcoin users and provided for even better news for those in the cryptocurrency community who chose to “HODL” or to Hold On for Dear Life, as the saying goes.

The community embraced this jump in value after enduring traumatic market volatility in the recent weeks. Bitcoin prices have been all over the board in the last six months, ranging from a market high over USD 20,000 in January to a dramatic downward slope with a low around USD 6,000 in February.

Bitcoin charts are closely monitored for patterns by experts worldwide – yet nobody has yet been able to pinpoint the exact science behind the ebb and flow of Bitcoin’s price roller coaster. From famous opinions to big bank CEOs’ regular rants, there is seldom a true consensus among those who share their views on the controversy surrounding Bitcoin.

Max Keiser, the notorious host of The Keiser Report, was seen Tweeting playfully about his recent prediction that the Bitcoin market would experience a “double bottom”.

#Bitcoin held my double-bottom call… Is is art or mathematics? pic.twitter.com/M8yOZtRFNp

— Max Keiser (@maxkeiser) April 12, 2018

A double bottom is a pattern sometimes found in market charts that measure financial data.  It looks like the letter “W” with a price drop, followed by an upward rise, with another drop and finally a defining final rise similar to the one that came before it. Really, it could be called a double top – since that is the positive note that it ends on.

With all of the opposing “expert” opinions, the frenzy paves the perfect path for a slightly unpredictable ride in the short term. Based on at the numbers year over year, the future for Bitcoin’s price appears to be bright, having bounced back from every major fall so far.

 

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Bitcoin at over $100,000 Says Wall St Veteran Max Keiser

In a conversation with Bitcoinist, Max Keiser, American broadcaster, filmmaker and Wall Street Veteran, has said that he envisages that the crypto giant Bitcoin “will top USD 100,000”.

Timothy Maxwell ‘Max’ Keiser currently hosts the Keiser Report on Russian state media channel RT. Until 2012, Keiser anchored the news analysis program On the Edge on Iran’s Press TV. Elsewhere, he has hosted business analysis programmes for BBC Radio 5 and BBC World News and produced the TV series, People and Power, for Al-Jazeera.

Keiser was quick to point out in the interview that his show was the first to cover Bitcoin back in 2011, arguing that it “fulfills Aristotle’s 4 conditions of money nicely”.  It must be durable, portable, divisible (have fungibility) and it must have intrinsic value.

Keiser maintains that with extremely low interest rates prevailing around the world, there is absolutely no incentive to save. Thus, due to poor investment practices and a “horrendous capital allocation trend”, an unsustainable bubble has been created: “an economy of artificially inflated stocks, bonds, property, and art”. He maintains that Bitcoin, along with gold, remain outside this bubble, although he sees altcoin Bitcoin Cash as “dodgy”, riding on the back of Bitcoin’s success.

Recent developments and comments surrounding investor and magnate George Soros and The Rockefellers were seen by Keiser as evidence that futures contracts could be used to build much bigger positions. He sees George Soros attempting to “corner” the bitcoin market, borrowing at 0% and accumulating “a huge position”.

In this scenario with the added financial impetus offered by big players, Keiser says Bitcoin can only go “a lot higher”, predicting a long-term target for the virtual currency of USD 100,000, based on “a Soros dump”.

Apart from Keiser’s appearances he has appeared as a financial pundit on a number of news networks. He was the creator, founder and CEO of HSX Holdings/Hollywood Stock Exchange and co-invented the Virtual Specialist platform on which the Hollywood stock exchange operates. The technology allowed traders to exchange virtual securities such as the Hollywood Dollar.

 

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