Max Keizer: Bitcoin will hit $220,000 by the end of 2022

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Longtime crypto proponent and Bitcoin bull Max Keizer predicts that BTC will hit $220,000 before the end of the year.

Speaking in a recent interview with Daniela Cambone of Stansberry Research, Keizer gave the reasoning behind his bullish price prediction, including a rationale for why Bitcoin failed to hit six figures in 2021.

Keizer argued that the $220,000 price was based on a typical four-year cycle for Bitcoin. He noted that a number of factors prevented BTC from hitting its bullish mark last year, including the massive collapse in Chinese crypto mining and hashing power.

According to Kesier, Bitcoin’s mining and hashing power dropped 50% in the last year and only recently recovered. Keizer pointed to Bitcoin’s hash rate approaching another all-time high as a particularly bullish signal, justifying his prediction that BTC will hit $220,000 this year.

As reported by The Daily Hodl, he said,

There’s price, there’s hash rate, and there’s difficulty adjustment – those are the three things you need to keep in mind. I’ve always said price lags hash rate, hash rate leads price, so we’re going to see new all-time highs in hash rate and followed by new all-time highs in Bitcoin price .

Keizer, which hosts the Keiser Report, also pointed to the weakening of fiat currencies as a catalyst for Bitcoin’s price increase. He predicted that Bitcoin would eclipse the market capitalization of gold, making it the definitive store of valuable assets.

He said,

If you listen to guys like Bill Miller or Paul Tudor Jones, or any of the other major hedge funds, they are now openly saying that Bitcoin competes with gold. He’s going to get a share of the gold market.

Keizer called the demand for bitcoin “virtually infinite”, in light of Fiat’s inflationary trend, which would continue to drive interest in bitcoin. He also mentioned that all of Bitcoin’s fundamentals remain “very strong,” and that’s why he moved the target date for the $220,000 figure from late 2021 to late 2022.

Warning

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto-assets involves the risk of financial loss.

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