- A combination of events could push Bitcoin price to Max Keiser’s $220 price target.
- Wall Street is “sniffing out” the increasing likelihood that the Fed would cut rates.
- Interest rate cut’s timing would likely coincide with the approval of spot Bitcoin ETFs.
According to John E. Deaton, founder of Crypto-Law.us, a combination of critical events would lead to the achievement of Max Keiser’s prediction that Bitcoin price would reach $220,000 in the next bull run. Deaton made the statement while responding to a post by Lisa Abramowicz, who said that Wall Street is “sniffing out” the increasing likelihood that the Fed would cut rates.
In her post on X (formerly Twitter), Abramowicz noted that the Fed doesn’t want to discuss rate cuts. However, she believes Wall Street is sensing the inevitability of that and is preparing for the situation. According to her, six months ago, if the economy had fallen off the cliff, the Fed’s hands were tied, and it couldn’t cut rates. Now it can.
In response to Abramowicz, Deaton explained that the impending rate cut would form part of a combination of events that would significantly impact Bitcoin’s price. He explained that the rate cut’s timing would likely coincide with the approval of spot Bitcoin ETFs and other significant events that would create a perfect storm for the flagship cryptocurrency.
Deaton noted that despite believing that a spot Bitcoin ETF should have been approved long ago, recent developments suggest it couldn’t have had a better timing. The foremost lawyer noted that in the not-too-distant future, potentially between Q2 and Q3 2024, the Fed would cut rates and print more money.
According to the renowned lawyer, combined with rate cuts, increased liquidity, Bitcoin halving, and between eight to ten spot Bitcoin approvals, Keiser’s $220,000 Bitcoin price target wouldn’t be such a big deal. He thinks all these would happen within the next eighteen months.
Before the last bull run, Keiser predicted that Bitcoin would reach $220,000 and has remained adamant about this target. In a recent post, he noted that BTC trades around its current level after social unrest and societal breakdown, advising users to look out for higher BTC prices and economic collapse.
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