- Max Keiser, an advisor of El Salvador’s president, speculates a $100K God Candle for Bitcoin (BTC).
- The current Bitcoin rally may be the start of the largest cryptocurrency’s ascent to $100K.
The Chairman of Volcano Energy and advisor to El Salvador’s president, Max Keiser, has fueled the Bitcoin speculation with a tweet hinting that the current Bitcoin rally might be the warm-up for a God candle that will climax at $100K.
“God Candle incoming: Are we witnessing the start of a $100,000 God Candle?” wrote Keiser on X.
Keiser who dubs himself the “High Priest of Bitcoin” has been an ardent Bitcoin advocate and one of the key figures preaching and pushing for Bitcoin adoption in El Salvador and globally. He’s also an early Bitcoin adopter, who bought his first BTC in 2011 at only $1, which explains why he has a massive audience that counts on his predictions.
However, he has had a history of overzealous and inflated Bitcoin predictions, partly driven by his belief in Bitcoin’s potential to transform finance and the sentiment he holds towards the crypto. Keiser had already gone past the $100K target as far back as 2020 when he told podcast host Alex Jones that he was raising his official target “for the first time in eight years” to $400K. Interestingly, while Keiser made his analysis based on prevailing US economic situations, BTC has yet to even cross the $70K mark in 2024.
Meanwhile, Keiser is not the only one who has issued a $100K prediction for Bitcoin following the recent rally. Market researcher TheBitcoinLayer has also revealed that they view “the current bull run to be in its beginning stages.” According to their analysis chart, a shallow path of increase could amount to the “$100,000 price over the next few years” while a “more aggressive path” could see it happening towards the end of 2024.
Just last week, billionaire investor and Rich Dad Poor Dad author Robert Kiyosaki also predicted: “Bitcoin to $100K by June 2024.” Although Kiyosaki’s prediction didn’t come with a background on the dynamics that could result in the $100K target, there’s a big probability the halving which will occur in less than 50 days will be a big contributor. The underlying principle of Bitcoin halving is the reduction in BTC supply which invariably increases the demand and the price of the cryptocurrency.
If you think Kiyosaki’s $100K by June prediction is an overstatement, you may need to listen to Samson Mow CSO of Blockstream who targets Bitcoin at $1M before the halving. According to Mow, Bitcoin will rack up at least 10 Omega candles to reach $1 million within the next few weeks. “The Omega candle is a $100K green candle on the daily”, says Mow, and it usually “happens after the God candle which is $10K.” He predicts days of at least 10 Omega candles – which will send BTC to $1M before April’s halving.
“My thesis is that we’re going to see it before the halving…” said Mow.
Bitcoin struck an impressive $57,416 around 12:45 pm UTC – which represents its 3-year high since 2021. Within the past few weeks, the king of crypto has heartily thriven above its $49K resistance with its chart promising to continue in a bullish trend. As of this writing, Bitcoin sits comfortably at $57,171 and seems to be gearing towards another upward trend.