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Max Keiser Compares Bitcoin to Apple and Amazon

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Sun, 05/10/2020 - 18:27
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Alex Dovbnya
RT host Max Keiser, who predicts $400,000 per one Bitcoin, says investors should not be discouraged by volatility while comparing Bitcoin to Apple and Amazon
Max Keiser Compares Bitcoin to Apple and Amazon
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Bitcoin has always been criticized for its breathtaking bouts of volatility that can turn the tables for market participants in no time.  

However, economist and RT host Max Keiser says that it’s no different from top stocks such as Amazon and Apple when it comes to extreme price moves.

Related
Max Keiser Raises His Bitcoin Price Target to $400,000

Don’t be alarmed by volatility

2020 made traders walk on eggshells regardless of an asset class since markets were anything but stable across the board.

For instance, oil already became more volatile than Bitcoin in February before plunging to minus $37.63 a barrel on Apr. 20, which turned out to be a one-of-a-kind day for the industry. 

Due to the liquidity crisis in March, both Bitcoin and U.S. equities recorded monstrous red candles that will go down in history books. On May 10, the former made another wild move that left traders aghast. 

That said, Keiser notes that economists who complain about volatility never become billionaires themselves since it brings more opportunities. 

Related
Russia and China Could Add Bitcoin (BTC) to Their Strategic Reserves, According to Max Keiser

Apple and Amazon comparisons

Keiser is by no means the first pundit who compared Bitcoin to two of the biggest companies in the U.S that account for more than 17 percent of the S&P 500 index together with Facebook, Alphabet, and Microsoft.    

Veteran CNBC host Joe Kernen once drew parallels between BTC to Amazon in its nascency:

Take the friction of transferring money to whomever – you can take it to zero. Like Amazon took retail to zero.

Crypto enthusiasts also like to bring up Apple to prove why BTC can always rise up from the ashes. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.