Keiser’s Insights on Bitcoin: Factors Affecting Its Path

Max Keiser, an outspoken Bitcoin supporter, crypto podcaster, and former trader, believes a few factors act as a slight headwind for Bitcoin and revealed them in a recent X post.

Keiser tweeted, in response to a recent post by German economics expert Holger Zschaepitz about Brent oil reaching $90 per barrel for the first time since November, that rising oil prices and higher interest deposits in USD accounts are currently attracting investors and, as a result, are “a small headwind for Bitcoin.”

According to Zschaepitz’s X post, the oil price spike occurred after Saudi Arabia announced it would continue to reduce oil production for an additional three months.

A week ago, Bitcoin soared 7.88% within an hour after news broke that Grayscale prevailed in court against the SEC regulator regarding converting its Bitcoin Trust into a spot ETF.

The premier digital currency then surpassed the $28,000 mark, surpassing the $26,000 mark.

In the subsequent week, however, the price progressively decreased to the $25,400 region. When I wrote this article, a single bitcoin cost $25,688.

Next year, between April and May, the next Bitcoin halving is expected to occur, in which BTC miner rewards will be reduced in half, thereby reducing the amount of Bitcoin entering the market.

Historically, market participants and traders anticipate increasing the BTC price following halvings.

The previous one occurred in 2020, and Bitcoin attained its all-time high of $69,000 in October 2021.

As a result of the pandemic and lockdowns that have occurred since March 2020, the US Federal Reserve and other central banks around the globe have printed an enormous amount of additional currency.