Bitcoin Boom to $100K Will Destroy Altcoins, Predicts Crypto Firm – BTC, Ethereum, XRP, Litecoin Forecasts
A crypto venture capital firm led by Wall Street veteran Max Keiser says Bitcoin will rise to $100,000 at the expense of all other crypto assets.
Heisenberg Capital says it’s pouring new capital into the leading cryptocurrency in anticipation of the market “rejecting everything” except BTC.
We see the market rejecting everything, except BTC.
This has been our dominant investing thesis since 2011.
We’re doubling down on Bitcoin Maximalism with new capital.
As BTC climbs toward our 2011 target of $100,000, we believe everything except BTC will die-off.
— Heisenberg Capital (@HeisenbergCap) May 5, 2019
The fund has invested in a number of leading crypto companies including Bitpay, Kraken, ShapeShift and Bitfinex. The post triggered an instant response on crypto Twitter in defense of alternate cryptocurrencies.
Market rejecting everything can change from one day to another. Anyways, it would be nice that many shitcoins disappear, but you forget that some of them have strong fundamentals, strong partnerships, real use case, working product and they 'll grow.— CryptoHODL (@CryptoW49104301) May 5, 2019
I'm primarily Bitcoin Maximalist— Josh Rager 📈 (@Josh_Rager) May 6, 2019
But still, think if you truly believe every other crypto asset is going to die off (let's not forget assets in the future backed by new technological advancement and tokenized assets) - you may want to reevaluate your thesis
Right now, the crypto market is mixed, with Bitcoin up 0.14% at $5,680, according to Coin360. Ethereum is up 8.28% at $173.83 and XRP is up 0.42% at $0.3005.
Technical analysts are watching Bitcoin’s resistance at $5,700, with CoinDesk’s Omkar Godbole calling out risk of a short-term pullback.
CoinGape – ETH blasts through short-term hurdle
Blockonomi – Clear risk of further declines
Live Bitcoin News – XRP bulls now facing uphill task
Ethereum World News – Risk of downside extension below $70