Bitcoin (BTC) maximalist Max Keiser believes the leading crypto asset will hit the $220,000 level this year.
https://twitter. com/maxkeiser/status/1478022798832541698
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Keiser’s prediction is due to the fact that Bitcoin price tends to follow the network’s hash rate. Bitcoin hash rate hit an all-time high of 203.5 exahash yesterday.
As it will be remembered, due to China’s pressure on crypto miners, miners stopped their activities in the country and the hash rate decreased to 58.4 at the end of June. But things have turned around.
In an interview with the Daily Express, Keiser stated that the Chinese bans were a temporary hiccup.
Bitcoin is trading at $ 46,635 at the time of writing.
The theory that bitcoin price tends to follow the network’s hash rate is based on the assumption that miners invest more resources in the network and therefore increase the value of the asset.