Major crypto venture capital firm Heisenberg Capital has stated its position on the future of cryptocurrencies. In a recent tweet, the company said Bitcoin (BTC) is the only cryptocurrency that will survive and will kill all the altcoins as it grows.
The tweet which was courtesy of the Heisenberg Capital’s founder Max Keiser also emphasized his position on the $100,000 price it predicted for Bitcoin. Apparently, Keiser predicted the price for Bitcoin in 2011 but the market has not been friendly enough to push Bitcoin up so fast, especially after the 2017 all-time high.
Not everyone in the cryptocurrency space agrees with his predictions though, as there are die-hard altcoin fans who believe they will see phenomenal growths for their coins of choice as well. Some experienced analysts and traders in the industry, however, agree with him.
For instance, a crypto trader Scarface projects that only a dip in Bitcoin price by a few hundred dollars would give altcoins a limited chance to partake of the severally predicted bull market that is expected to come after Bitcoin breaks through $6,000. This means altcoins have no chance of seeing any significant rally if Bitcoin does not dip significantly prior to a surge above $6,000.
Keiser has been a lover and promoter of both blockchain technology and cryptocurrencies. Notably, his firm has contributed to establishing crypto exchanges such as Kraken, Bitfinex, and ShapeShift. He is also one of the most influential Bitcoin bulls in the industry.
However, he is not the only one. One analyst known as Galaxy recently predicted that Bitcoin could hit $330,000 by the end of 2021. According to him, if the current market reflects the pre-2017 bull market, by simple calculation, the price would be at least $330,000 in 2 years.
John McAfee, another prominent figure in the industry and aspiring United States president has also predicted a $1 million price for Bitcoin by 2020. McAfee who had earlier predicted the price to be at $500,000 later said Bitcoin growth was too fast for it to stop at half a million dollars by the projected time.
Should Keiser’s prediction come true, several exchanges including the ones he helped build will be adversely affected as they all trade in several altcoins, some of which experts say will surely die. Do you think Bitcoin killing all altcoins is actually feasible?