According to U.Today, Max Keiser, a vocal Bitcoin advocate and former financial journalist, has reiterated his prediction that Bitcoin could reach a staggering $220,000. Keiser has been sharing this prediction for several years, but now he has a new reason to support his claim. He believes that the 'God candle' is coming, indicating a significant price surge. Keiser's prediction is based on the principle of 'demand shock meets supply shock', which he believes is currently happening in the Bitcoin market.
Keiser's comments were in response to a tweet by a user named @Vivek4real_, who pointed out that the Bitcoin supply on cryptocurrency exchanges is drastically dropping, hitting all-time lows. Keiser agreed with this observation, stating that a supply shortage is incoming, which could lead to a significant price increase.
In related news, Jan3 CEO Samson Mow, another proactive Bitcoin supporter, also expects Bitcoin to surge to a new historic price peak soon. Earlier in the year, Mow predicted the emergence of a 'Bitcoin Omega candle' on the charts, which he believes could push Bitcoin towards a goal of $1 million. Mow's prediction is based on the same principle of 'supply shock meeting demand shock'. He explained that the launch of spot Bitcoin ETFs in January, which have been buying roughly 10,000 BTC per day, created a demand shock for Bitcoin. As for the supply shock, Mow believes that the recent halving event, which reduced the daily production of Bitcoin by miners from 900 to 450 BTC, will contribute to this. ETFs, including BlackRock, Ark Invest and VanEck, continue to buy Bitcoin from the market, further contributing to the demand shock.
