Russia Today host and avid Bitcoin advocate Max Keiser has said $5000 per Bitcoin is “within sight” due to hedge fund activity.
In a tweet Sunday, Keiser, who is known for his optimistic Bitcoin price predictions, quoted a source stating an unnamed yet “well known” fund had been “dabbling in cryptocurrency.”
“Hedge funds are herd animals,” he commented. “If one starts pouring cash into Bitcoin, others will follow; $5,000 within sight.”
The original source added the fund’s manager had said cryptocurrency dealing had “helped performance.”
Hedge funds are herd animals. If one starts pouring cash into Bitcoin, others will follow; $5,000 within sight. pic.twitter.com/cjklIg1w9e
— Max Keiser (@maxkeiser) June 12, 2017
Keiser has been increasingly bullish on Bitcoin in recent weeks, suggesting at the beginning of June that the cycle of surge – correction – repeat would continue to see prices reach $100,000 and beyond.
At the same time, several attempts to breach the significant $3000 barrier have so far been unsuccessful, the price per coin systematically dropping back to or below $2900.
Meanwhile, attention is focussing on businesses’ expanding taste for alternative assets, specifically Ethereum, the growth of which is seeing Bitcoin’s overall market dominance slip further and further away.