Max Keiser Remains Bullish on Bitcoin Over Other Cryptos

Bitcoin On The Rise
Bitcoin Back on The Rise in Early Trading
August 8, 2019
Cash App Bitcoin News
Cash App Nets $125 Million in Revenue for Square
August 15, 2019

Max Keiser Remains Bullish on Bitcoin Over Other Cryptos

Max Keiser Remains Bullish on Bitcoin Over Other Cryptos

When it comes to cryptocurrency, Bitcoin (BTC) has been the dominating force since Day 1. Competitive options have cut into this early monopoly over the past few years in the form of altcoins, but bitcoin remains the market leader by a rather wide margin.

Max Keiser made a name for himself as a Wall Street trader. He gravitated towards cryptos in recent years and remains one of the industry’s most vocal bulls. A recent post on www.cointelegraph.com offered his perspective on the cryptocurrency industry as a whole.

betanysports

Why Is Max Keiser Remaining Bullish on Bitcoin Over Other Cryptos?

Keiser recently stated that BTC’s market dominance is approaching 80 percent. He also stated that altcoins are a dead-end investment that should be converted to bitcoins. An Aug. 6 Twitter post read as follows:

Bitcoin Dominance

“#Bitcoin dominance 68.2%– heading to 80%–as alts die in favor pf BTC.The 2014-2017 era of alts and hard forks is dead. Don’t be the last to rotate out of alts into BTC.”

These are pretty strong assumptions even for a BTC bull, but he does back it up with some facts and figures. Using data from Coin360’s summary table, BTC’s 69.2 percent dominance is up one percent from Keiser’s recent projection. The BTC market cap is $210 billion verse the total market cap of $303 billion for all cryptos.

A recent market analysis from the San Francisco Open Exchange (SFOX) still has Ether (ETH) as a viable altcoin. The report suggested that BTC has a much larger correlation with ETH than other altcoins. In a direct quote this analysis stated:

“This may support the idea that Ethereum is coming into its own as a blockchain that is publicly recognized as an asset on its own terms, much like Bitcoin. If this trend continues, it may become inappropriate to categorize Ethereum as an ‘altcoin’ on par with other cryptoassets that are not Bitcoin.”

The market value of BTC has been on a wild roller-coaster ride since mid-July. As recent as Aug. 3, Keiser continued is bullish stance by predicting values above $15,000 this month. The current value topped $11,500 in recent trading. He cited continued declines in public confidence in centralized governments.

Bitcoin is the No.1 way to fund your betting account at BetAnySports Bitcoin Casino & Sportsbook and all deposits and withdrawals have no transaction fees. Reduced juice options with -105 betting odds as well as the fastest payouts in the sports betting industry make BetAnySports the top online sportsbook for US players.

Summary
Max Keiser Remains Bullish on Bitcoin Over Other Cryptos
Article Name
Max Keiser Remains Bullish on Bitcoin Over Other Cryptos
Description
Max Keiser made a name for himself as a Wall Street trader. He gravitated towards cryptos in recent years and remains one of the industry’s most vocal bulls.
Author
Publisher Name
Army Of Bitcoin
Publisher Logo

Comments are closed.