Bitcoin ‘God Candle’ Coming, Max Keiser Says, Revealing Major Reason

Vocal Bitcoin advocate and former financial journalist Max Keiser has taken to his X account to share a mega bullish Bitcoin price prediction with his army of followers.

Keiser has revisited his earlier prediction about BTC soaring to the whopping $220,000 price level, which he has been frequently sharing in the last several years. This time he has come up with an important new reason for such an expectation.

“God candle is coming; $220,000 in play”

Bitcoin maximalist Keiser believes that $220,000 for Bitcoin is “still in play.” He posted a tweet to spread the word about this among his X followers. The important reason why this all-time high for the world’s flagship cryptocurrency seems quite possible now is that, according to Keiser, Bitcoin “demand shock meets supply shock.”

Max Keiser commented on a tweet by X user @Vivek4real_, who stated that the Bitcoin supply held on cryptocurrency exchanges is drastically dropping now, hitting all-time lows. “Supply shortage incoming,” @Vivek4real_ tweeted.

Demand shock meets supply shock.
God candle incoming.
$220,000 in play. #Bitcoin https://t.co/STjawB81IS

— Max Keiser (@maxkeiser) May 7, 2024

Keiser stated that he expects $220,000 to be reached as a result of the “God candle” on a Bitcoin chart.

Samson Mow expects new Bitcoin ATH soon

Earlier this week, another proactive Bitcoin supporter, Jan3 CEO Samson Mow, tweeted that he expected the globe’s biggest cryptocurrency to surge to a new historic price peak soon.

In his multiple bullish tweets published earlier in the year, Mow stated that he expected to see a “Bitcoin Omega candle” to emerge on the charts and then take BTC toward a staggering goal of $1 million.

Before the Bitcoin halving finally occurred in the second half of April, Mow named reasons for Bitcoin’s potential $1 million increase – “a supply shock meeting a demand shock.” What he meant by this was that spot Bitcoin ETFs, which began to trade in January and also began to aggressively buy roughly 10,000 BTC per day, created a demand shock for Bitcoin.

As for the supply shock, Samson said that it would be the halving that would take care of that. Indeed, now that this fundamental event is behind us, the daily production of Bitcoin by miners has fallen from 900 to 450 BTC as block rewards dropped from 6.25 to 3.125 BTC. The ETFs, including BlackRock, Ark Invest and VanEck, continue to suck Bitcoin up from the market.

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