The bitcoin price is going to skyrocket to $400,000 as the coronavirus outbreak sees financial markets tumble to crisis levels, according to celebrated TV host Max Keiser.
The coronavirus pandemic has swept billions off markets globally as investors scampered for safe havens for their money, pushing the price of gold higher and sending some into cryptocurrencies like bitcoin.
Retail sales, manufacturing output, travel, tourism, and work production are all taking a major hit due to quarantines and preventative measures introduced to stop the spread of COVID-19.
Bitcoin is currently trading at around $5,800, making it very attractive to investors, Keiser said.
“For the first time in eight years, I’m raising it to $400,000. That’s my new official target,” he told Cointelegraph, without saying when the digital coin will hit that price.
“The good news… is that bitcoin at $10,000 or $9,300 is equally as attractive as it was when it was $100.”
Keiser revised his bitcoin price prediction fourfold from the $100,000 he had forecast on March 5.
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The broadcaster, famous among crypto enthusiast for promoting digital assets through his Keiser Report RT show, said that the Coronavirus induced economic meltdown this year is part two of the global financial crisis which spawned bitcoin in 2009.
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