Former Wall Street trader and financial analyst Max Keizer said he believes the supply shock will drive the price of Bitcoin to $ 1 million.
In an interview with Express, Keizer said that institutions are now looking to buy bitcoins directly from miners and that Bitcoin's price rise will effectively attract retail investors.
“Demand for Bitcoin is growing almost exponentially while supply is mathematically locked at 900 a day and in fact, by 2024, supply halved to 450 a day.
That is why institutions that are trying to buy Bitcoin directly from miners and retail investors will have a hard time buying BTC. The supply shock will push Bitcoin's price to $ 1 million
Meanwhile, tGeneration Z, who bought a lot of BTC when it was below $ 100, will be the new class of global power. World order is about to overturn
Keizer points to the fact that famous investors like Paul Tudor Jones, Stanley Druckenmiller and Bill Miller are now creating FOMO, they are trying to push the price of BTC to the highest level, which will be a sign of what's to come. .
Additionally, Keizer emphasized that PayPal's involvement in Bitcoin will change the game. Since PayPal announced support for crypto payments, a lot of institutional investors plan to 'jump' into the market.
"The daily demand for Bitcoin from the leading exchanges appears to be at least 2,600 BTC, while the daily supply from mining is locked at 900 BTC," he said.
Present Bitcoin price still maintaining well above the threshold of 18,000 USD, currently trading at 18,352 USD, up 0,79% over the past 24 hours.
The highest price in the past 24 hours recorded at 18,752 USD and as low as 18,162 USD.
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