Max Keiser Predicts Bitcoin Dominance, Death of Altcoins and Hard Forks

Bitcoin maximalist and former Wall Street trader Max Keiser has recently claimed that Bitcoin (BTC) dominance is heading to 80% and that altcoins are dying, further urging the public to rotate out of other crypto assets and into BTC.

Keiser announced his latest views in a Twitter post on Aug. 6:

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

According to data provided by Coin360’s summary table, BTC is sitting at a dominance of around 69.2% at press time, as its market cap is $210,422,145,970 out of a total $303,923,701,331.

In regards to Keiser claim that altcoins are dying, recent analysis from the San Francisco Open Exchange (SFOX) suggests that perhaps this is compatible with Ether (ETH) continuing to thrive. In the SFOX report, the author wrote that BTC has a much larger correlation with ETH than other altcoins, further arguing:

“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 a par with other cryptoassets that are not Bitcoin.”

Another prediction from Max the maximalist

As previously reported by Cointelegraph, Keiser made a bullish BTC price prediction on Aug. 3. Keiser also addressed his audience on Twitter, claiming that he believes BTC will cross $15,000 this week. Keiser wrote:

“I’m sensing #Bitcoin will cross $15,000 this week. Confidence in central governments, central banks, and centralized, fiat money is at a multi-decade low.”

While perhaps not agreeing with Keiser’s claim that the public’s confidence centralized governments and financial institutions are at an all time low, Circle CEO Allaire similarly commented that geopolitical conflict boosts BTC growth:

“You can very clearly see some macro correlation there. I think the broader theme of, you know, Bitcoin specifically, crypto more broadly participating in these global macro forces is becoming more and more clear. Rising nationalism, rising amounts of currency conflict, trade wars, these all obviously are supportive of a non-sovereign, highly secure digital store of value.”

5  Comments Add a comment…

  • Max Keiser Predicts Bitcoin Dominance, Death of Altcoins and Hard Forks D B  

    Several altcoins will not only survive but will surpass the value of bitcoin within the next five years. This guy has absolutely no clue what he’s talking about. By the end of 2021, bitcoin’s market dominance will be well under 50%

    Reply

  • Max Keiser Predicts Bitcoin Dominance, Death of Altcoins and Hard Forks John Helwig  

    Yes many if not most alts we currently have are unnecessary and will shrivel and die. But Bitcoin alone is short sided view. As the space gets more sophisticated, new alts will take new roles in function and interoperability. The next wave of alts will be smart contract platforms and Dapps. BTC dominance will then begin to fall again.

    Reply

  • Max Keiser Predicts Bitcoin Dominance, Death of Altcoins and Hard Forks Crypto Fan  

    i dont get it

    Reply

  • Max Keiser Predicts Bitcoin Dominance, Death of Altcoins and Hard Forks 1bet 1beer  

    If we only would have bitcoin, we will only have Digital Gold. Don’t get me wrong I love gold, and Digital Gold is growning on me as well, but I also need (Dash) Digital Cash, otherwise I will still have to depend on centralized party’s for doing transactions

    Reply

    • Max Keiser Predicts Bitcoin Dominance, Death of Altcoins and Hard Forks Lim Hao 1bet 1beer  

      technically speaking.. bitcoin is already digital cash, likewise dash and bitcoin has a fixed supply of coins. Bitcoin already has bitpay and speedn supporting its usage as cash.

      Reply

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