Max Keiser is a very well-known Wall Street trader and an avid bitcoin supporter. Earlier this week, Keiser claimed that bitcoin dominance will increase up to 80% and most altcoins are on their deathbeds. He strongly suggested that all crypto investors gravitate towards bitcoin as soon as possible.
#Bitcoin dominance 68.2% – heading to 80% – as alts die in favor of BTC. The 2014-2017 era of alts and hard forks is dead. Don’t be the last to rotate out of alts into BTC.— Max Keiser, tweet poet. (@maxkeiser) August 6, 2019
Keiser’s twitter post from earlier this week is more or less confirmed by the data provided by Coin 360’s summary table. The data reveals that BTC’s dominance hovers around 70% and the market cap at press time is $209,132,433,071.
Bitcoin’s dominance has been accepted by almost everyone for a long time now. Keiser’s claims about altcoins being on the verge of death however, was met with quite a few different opinions.
Max Keiser is probably a little too harsh on altcoins
Some experts suggest that a lot of people simply do not view Ether (ETH) as an altcoin anymore. This is due to the huge correlation between BTC and ETH that is simply missing with every other altcoin. If we truly exclude ETH from the altcoin bracket, then yes, things do indeed look troublesome for the majority of altcoins.
Earlier this month, Keiser’s “bitcoin sense” tweet caught a lot of attention.
I’m sensing #Bitcoin will cross $15,000 this week. Confidence in central governments, central banks, and centralized, fiat money is at a multi-decade low.— Max Keiser, tweet poet. (@maxkeiser) August 3, 2019
While it’s highly possible that Keiser is right about bitcoin reaching $15K by the end of the month, the second part of the tweet about the low faith in fiat, governments and central banks lit up the most discussion.
People are truly tired, tired of fake wars, fake money, fake politicians with hidden agendas and this is seen everywhere. No matter how much the mass media tries to spin their never-ending narratives, the situation will not change. People are slowly waking up and cryptocurrencies might just be the alarm that sets off a revolution unlike any before.
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Tags:altcoins dyingbitcoin dominance growthMax Keiser bitcoin dominancepeople against central banks