Max Keiser: Value Will Flow Into Bitcoin, Altcoin Phenomenon Finished
American broadcaster and known bitcoin (BTC) bull Max Keiser suggested that the cryptocurrency market rally will not include altcoins in a recent interview with CNBC
Keiser said that with the evolution of the cryptocurrency space and adoption of Segregated Witness (Segwit) and the Lightning protocol, people began to better understand the store of value bitcoin provides, as well as scaling that would happen off chain. This, per Keiser, made crypto owners move their funds back into”the most secure series [bitcoin].”
Keiser further estimated that altcoins are likely to pennies or even out of existence, because”all that money will flow into bitcoin.” He concluded that with bitcoin’s market present dominance 60% — which Keiser purports could visit 80%–90 percent –“the altcoin phenomenon is completed,” he said.
Recently, author and veteran trader Peter Brandt predicted that bitcoin will continue to grow but altcoins will not feel the benefits. Brandt stated that unlike the previous bull market cycle in 2017, bitcoin’s profits would not have a knock-on impact elsewhere. He summarized,”Cryptomaniancs anticipate alts to do so again — they may be very disappointed.”
In June, ThinkMarkets chief market analyst Naeem Aslam predicted that bitcoin will hit at somewhere between $60,000 and $100,000 during its next bull run. He argues that by hitting at $20,000, discussion will move from estimates exceeding the all-time high of the number one coin to forecasts of $50,000; from there, the price target wills move .