Prominent Bitcoiner Max Keiser: Bitcoin Price May Hit $220,000 If Fiat Continues Its Hyperinflation Collapse Against BTC

Every time the market falls in price, many Bitcoin price forecasts appear. And this time is no exception. According to Bitcoin Pioneer cum Co-Founder Heisenberg Cap, Max Keizer, if the hyperinflation of fiat types around the world continues, Bitcoin could reach a price of $ 220,000 by the end of the year.

Bitcoin price target for 2021 is $ 220,000

Recently, the US Senate passed another stimulus package worth $ 1.9 trillion distributed in $ 1,400 stimulus checks, increasing the amount of money in circulation and spurring inflation. which top economists and macro investors are expected to follow.

However, some also believe – Mike Novogratz, CEO of Galaxy Digital among them – that many young people in the US who will receive anti-crisis payments from the government will want to buy Bitcoin with them.

Max Keizer believes that these stimulus measures adopted by the US government are likely to support and increase hyperinflation and allow Bitcoin to reach $ 220,000 this year. After reaching a new historic peak of $ 61,700 on Saturday, the leading cryptocurrency has fallen and stabilized at the $ 56,000 price mark today.

The large sell-off is attributed to traders fixing their profits and withdrawing cash.

Besides, the Indian government intends to pass a repeat of the crypto ban that was lifted last year. This time, however, not only will banks be banned from serving companies and individuals trading cryptocurrencies, but holding Bitcoin and other cryptocurrencies may also be illegal.

Some experts believe that the current drop in BTC price could be the start of a correction that will keep the price down.

Among them was Atichanan Pulges, CFO at Bitkub Capital Group. He argues that Bitcoin and other cryptocurrencies have been rallying for a long time and that they will inevitably face a market correction now.

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