Bitcoin Price at $5,000 Is In Sight: Max Keiser

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Although Bitcoin price has struggled to recover back to its newest all-time high at $3,018, avid Bitcoin enthusiast and RT’s Keiser Report host Max Keiser has stated that a new all-time high for Bitcoin price is in sight.

Keiser wrote:

“New all-time high for Bitcoin in sight. Regulators will be twiddling their thumbs at $5,000, $10,000, and beyond. Welcome to NCO (New Crypto Order).”

Wider Bitcoin adoption

Bitcoin as a digital currency and digital gold is demonstrating an explosive increase in demand in various regions such as Japan and South Korea. Most recently, Japan’s largest budget hotel chain Capsule Hotel, which is popular amongst travelers and freelancers, has begun to accept Bitcoin as a payment method.

Capsule Hotel’s integration of Bitcoin follows the implementation of Bitcoin by Japan’s largest budget airline Peach, the country’s most influential electronics retailer Bic Camera and the most widely utilized PoS system AirREGI.

In an interview, Kagayaki Kawabata, Coincheck business development lead, shared that the Comics & Capsule Hotel Comicap will accept Bitcoin payments from its guests starting June 16.

He stated:

“From Friday June 16, guests can pay with bitcoin for hotel bookings at the facility in Kyoto Shin-Kyogoku. Bitcoin payments is facilitated by Coincheck. They have decided to use Coincheck Payment experimentally for capsule hotels. They may expand the bitcoin payment to other services as well.”

Media attention

More to that, mainstream media networks internationally have offered more extensive coverage of Bitcoin than ever before, even discussing the possibility of Bitcoin becoming a contender among some of the world’s largest reserve currencies. Some mainstream media outlets such as the Wall Street Journal featured Bitcoin on the front page of its newspaper for several weeks.

#bitcoin on Wall Street Journal front page part 2 @alansilbert

Mainstream media starting to cover bitcoin price next to gold & USD. pic.twitter.com/bYsZmk2QFU

— Joseph Young (@iamjosephyoung) June 8, 2017

Bitcoin price is struggling to recover beyond its previous peak and all-time high. However, Cointelegraph previously reported that Bitcoin has the tendency of breaking past its previous peak and all-time high after experiencing a minor market correction. Keiser emphasized that such a trend will continue until Bitcoin price enters the $100,000 region.

Based on the adoption of Bitcoin as a safe haven asset and a digital currency, Keiser’s $5,000 to $10,000 predictions are realistic. Over the past year, within a 12-month period, Bitcoin price increased from $640 to $2,575. Over the past 30 days, Bitcoin price surged by over 21 percent.

An increasing number of investors and traders have started to fear the possibility of the execution of a hard fork which may lead to a split chain. Analysts and experts explain that the probability of a split chain occurring is quite low, and Bitcoin scaling discussions have seen more progress in the past few weeks than it did throughout the past six months.

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