After a period of stillness and absenteeism from the cryptocurrency space, Bitcoin bull Max Keizer has returned with yet another bullish forecast. After Bitcoin crossed $ 10,000 recently, Keizer says it's in a clear path towards $ 28,000.
Bitcoin has shown powerful growing momentum in the past 72 hours, going from just over $ 9,000 to just over $ 11,000 today. This has led to many positive sentiments for the coin in the cryptocurrency market, not just for Keizer. However, there is some skepticism, voiced mainly by Peter Schiff, who is a long-term critic of Bitcoin and a strong advocate for gold.
Peter Schiff is wrong again
Peter Schiff has predicted many times that Bitcoin will go to zero. However, his predictions have not been fulfilled, at least not yet. Keizer says he is wrong again this time, as Schiff believes Bitcoin "To the moon" is just a lie told by whales who plan to dump Bitcoin on inexperienced retail merchants.
Even now that Bitcoin is recovering, Schiff says it's only a matter of time before it crashes, as it always has when it rises above $ 10,000. The question is how low will it crash?
"Two of the last three times #Bitcoin rose above $ 10,000 in October 2019 and February 2020, it soon fell 38% and 63% respectively. The last time Bitcoin rose above $ 10,000 was in May, and only dropped 15%. It is above $ 10,000 again today. How big will the next fall be? He wrote in a Twitter post.
Schiff has ignored every call to join the Bitcoin train for many years because he believes that Bitcoin is worthless. However, if Keizer's prediction comes true, you may be disappointed once again and Bitcoin bulls believe the trend is likely to continue until Bitcoin is worth hundreds of thousands of dollars per coin.
What analysts think
There's a lot of euphoria over Bitcoin's recent price surge with high expectations for future performance as Keizer expects it to be, but some analysts are being cautiously optimistic. NebraskanGooner, a cryptocurrency analyst and trader says that for Bitcoin to rise much more, there must be a large consolidation above $ 10,000. He says this is necessary for Bitcoin to hit the 2019 high of $ 14,000 and hit new highs or a dip may be imminent.
The week is still early, so it may be too early to tell, but it looks like this week will be key in determining the fate of the king coin in the coming weeks. The price is currently around $ 11,100, but it remains to be seen if this will continue for the next few days and weeks.