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That one phenomenon which could stir up Bitcoin detractors to accumulate large amounts of BTC

That one phenomenon which could stir up Bitcoin detractors to accumulate large amounts of BTC

Max Keiser, a famous American broadcaster and RT channel host, recently ignited a suggestion that Peter Schiff , Jim Rogers , and Mark Cuban , major investors who are currently known for criticizing Bitcoin, will follow an aggressive buying strategy as soon as they realize the value behind the digital asset, which will most likely accelerate the Bitcoin demand up.



Keiser in a Twitter post expressed his stance by mentioning all three influential figures:




. @PeterSchiff Jim Rogers, @mcuban and other pre-coiners represent huge pent-up #Bitcoin buying demand. When they finally understand it, they’ll go all-in with huge buys. I 100% guarantee this to be the case. — Max Keiser (@maxkeiser) June 26, 2020




He went further on creating a public poll, where Keiser was inquiring the public opinion on what price may drive Peter Schiff to buy Bitcoin last minute before the imagined price spike:




The longer @PeterSchiff waits to buy #Bitcoin , the bigger the panic-buy. My guess, $50,000 triggers him. What price do you think triggers Schiff to panic-buy Bitcoin? — Max Keiser (@maxkeiser) June 26, 2020




The influence of big figures in the Bitcoin world



Bitcoin, a first-ever digital currency to be based on a decentralized network, does not appear to be as influence-free as it seems from the first sight. In fact, the whole variety of factors can move Bitcoin price up or drag down within a few hours: these can be technological shifts, regulatory changes, and sudden spikes in demand.



These unpredictable rises are sometimes written down to manipulation, which is often thought to be administered by players that hold a major stake in the digital currency – so-called whales. While making Bitcoin price to play their own rules , whales are often accused of tremendous one-time purchases and are thought to be behind one of the major Bitcoin rallies .



For many people, well-acknowledged investors may be role models too. By following their example of buying or selling the asset, the price can shift significantly in a corresponding direction. This is why Keiser mentioned the likes of Peter Schiff, Jim Rogers, and Mark Cuban, whose Bitcoin approval may eventually change the price sentiment for the better.



Despite Bitcoin’s outlook of entering a full-fledged bull market by 2021 , some of the prospects are still not so positive – primarily, that concerns the Bitcoin’s role in the future among rival altcoins. Still, it does possess an incomparable price potential if it rises a serious interest from institutional investors, which for now seems a little bit far-fetched.



What attracts individual investors and pulls off institutional ones are exactly the aspect of unpredictability – some say that Bitcoin can skyrocket to $100,000 next year. However, having no real value behind and not offering any advanced technological solution on top (the like of which is smart contracts on Ethereum and Cardano), Bitcoin is mostly perceived as a speculative tool and does not bring in more than a highly fluctuant price of a digital token.

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