Max Keizer: Bitcoin price will soar to over $500,000

Bitcoin expert and renowned financial journalist Max Keizer recently made an extremely optimistic prediction about the trend of Bitcoin, predicting that the price of Bitcoin will soar to over $500,000. Keizer's prediction is mainly based on a pessimistic forecast for the U.S. stock market - a severe crash unseen since the late 1980s is expected in U.S stocks. Keizer anticipates a massive correction in the stock market as it peaks again. He cited a tweet published by "The Kobeissi Letter", a leading commentary in global capital markets industry. The tweet pointed out that currently, concentration of top 10% stocks in the market has reached its highest level since Great Depression at 75%, which is very rare and unhealthy number. "The Kobeissi Letter" noted that compared with past data, even during Internet bubble period in 2001, stock concentration was only at 72%, which is whole 9% higher than before financial crisis in 2008. Against this backdrop, Max Keizer boldly predicts that US stock market will experience rare major collapse not seen since late '80s; severity could be similar to crash of '87 and as market faces large-scale adjustment, Bitcoin would benefit from this stock-market crash. Max Keiser also predicted gold would plummet dramatically; with collapse of stock-market investment funds will shift from gold to bitcoin.