Another Shock Prediction for Bitcoin – Although Bitcoin has once again broken through the $30,000 level, some analysts are maintaining their extremely optimistic predictions. Leading the way is analyst PlanB, who has democratized the use of the stock-to-flow
model within the cryptosphere. According to this model, Bitcoin is expected to cross the $100,000 mark before the end of 2021. Another long-time Bitcoin evangelist also reiterated his optimistic predictions this week – Tim Draper.
$250,000 for Bitcoin, yes, but on what basis?
Back in 2018, Tim Draper claimed that Bitcoin would reach $250,000 by 2023. At the time of the initial statement, this price level was considered largely unattainable. Indeed, Bitcoin had just come out of a bull run and then collapsed to $8,000. Nevertheless, 3 years later, Tim Draper reiterated this prediction in an interview:
“Yes, I stand by my prediction. 250,000 dollars per bitcoin by the end of 2022 or early 2023. We’ve had a lot of ups and downs and we’ll continue to have a lot of ups and downs, but the global, reliable, decentralized, frictionless, open and transparent network that is Bitcoin will become more and more prevalent as the applications evolve.”
Tim Draper <img width=”592″ height=”640″ src=”//www.w3.org/2000/svg’%20viewBox=’0%200%20592%20640’%3E%3C/svg%3E” alt=’Twitter post by Tim Draper confirming his optimism for $250,000 bitcoin by 2023′ /><img width=”592″ height=”640″ src=”https://yellowrocketagency.com/wp-content/uploads/2021/07/image-70-1.jpg” alt=’Twitter post by Tim Draper confirming his optimism for $250,000 bitcoin by 2023′ />Post byTim Draper – Source: Twitter
“To me, Bitcoin represents freedom and trust. Many people around the world are already taking advantage of the economic systems that can be built around Bitcoin. The small movements are nothing compared to the steady degradation of Nigerian or Argentine currencies. And as the government continues to print dollars, Bitcoin provides a contemporary hedge against inflation. “
While price predictions in the cryptocurrency sector are commonplace, some statements carry more weight than others. This is especially true of Tim Draper, who displays unabashed optimism when discussing Bitcoin, and has done so for several years.
In 2015, when Bitcoin was worth less than $500, the venture capitalist accurately predicted that the asset would surpass $10,000 by the end of 2017. 2 years later, the investor has seen Bitcoin well over $18,000. So you’ll have to think twice before <a href=”https://jou
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