Bitcoin Bottom Is Here, Apex Crypto Heads For “$220,000+ This Cycle,” Says Max Keizer

[ad_1]

Bitcoin BTC/USD trader, podcaster and evangelist Max Keizer says the world’s largest digital currency has bottomed out in this cycle and is on track to break through the $220,000 mark.

Speaking to journalist Daniela Cambone, he noted that billionaire venture capitalist Tim Draper had already set a target of $250,000 for Bitcoin this year, and Keizer agreed with the prediction.

Investments in the Bitcoin network have never been higher, this means that security has never been higher and the price will take care of itself. Tim Draper reiterated his $250,000 call for Bitcoin in 2023, and I wholeheartedly agree with that. The price will take care of itself. What we want to make sure is that the network is stable, he said.

He added that the FTX scandal involving its founder Sam Bankman-Fried did not affect the Bitcoin network. Keizer noted that the amount of money poured into the network – hash rate, mining and security – has never been higher.

Also Read: Bitcoin Surpasses $21,000: Is the Move Sustainable or Just Speculative?

Meanwhile, Bitcoin is trading near the $23,000 mark on Sunday, its highest level since August 2022 and just ahead of Lunar New Year celebrations in the Asian subcontinent.

The value of the major cryptocurrency has recently increased, and analysts say this is likely due to a more positive overall economic outlook.

Slamming Bankman-Fried, Keizer said the FTX founder has a very bleak background in high-frequency trading and market making, which sits in a regulatory gray area.

The Bitcoin maximalist went on to say that EthereumETH/USD, Cardano ADA/USD, Ripple XRP/USD and FTT FTT/USD are all fraudulent tokens.

Next:Blockchain Crowdfunding Funds Psychological Thriller ‘Fuzzy Head’ at Slamdance Film Festival

Photo: courtesy of Web Summit on flickr.

[ad_2]