Max Keiser links Bitcoin’s decline to rising US Treasury yields

TV host and founder of Heisenberg Capital, Max Keiser, linked the decline in Bitcoin’s price to the rise in yields on US Treasury bonds.

“Rising rates will continue to challenge Bitcoin’s price as capital flows into high-yield instruments,” he wrote.

Keiser’s response followed news that the yield on 10-year Treasuries was approaching its highest level since 2008.

“Brace for 8%+ mortgages and 30%+ credit-card rates,” The Kobeissi Letter said.

In August 2020, Kaiser managed to predict the rise of Bitcoin above $28,000. In May 2021, he predicted the ascent of the first cryptocurrency to $220,000, but this has yet to happen.

Earlier in May 2023, Kaiser supported the position of SEC Chair Gary Gensler that all cryptocurrencies other than Bitcoin are securities.

On Thursday, August 17, the price of digital gold plunged from $28,000 to $25,000. Analysts linked this to SpaceX founder Elon Musk selling Bitcoin, the Evergrande crisis in China, and selling by a major market participant.