Bitcoin Forum

Well!! Popular crypto expert Tim Draper predicted the bitcoin price.

According to Tim Draper, Bitcoin Price (https://coinpedia.org/news/popular-crypto-influencer-predicts-bitcoin-price-will-hit-250k-by-q1-2023/) Will Hit $250k by Q1 2023

What's your take on this?

When we're long focused we can consider these price predictions as a positive energy for holding. No one can make a precise price prediction on the price. It all happens at that time relative to more good things that take place through the bitcoin network. $250k by Q1 seems a realistic prediction, because as years pass the demand will generate more value for each coin.

That person is hallucinating or dreaming. But I am not against him, even I wish for bitcoin to reach that high. But let us be real, bitcoins value will not reach that high in 2023. We could possibly hit 50k$ but 250k$ is just a wishful thinking. But who knows I maybe wrong and he is right. Let us just wait for 2023 so we can really decide that what he is saying is real is just purely wishful thinking.

No, it's better we better focus on ourselves trading strategy. Sometimes that is not really prediction that we expect for, maybe they just make us to buying a coin when its already hit on top or highest price. Now, if we want to trade on the market, don't listen to the other person but get your own research.

Its quite obviously that Tim Draper prediction on the price of bitcoin to hit $250K come Q1 2023 is over-hyped and unrealistic he should also back up of his prediction with a solid fundamental or technical analysis which would have make some senses yes every crypto enthusiasts wished the price of bitcoin to hit another ATH but not an overestimated price mark that someone will just speculates a value that is far from truth.

Personally, though I am bullish on Bitcoin, I am not anymore listening to anyone predicting that Bitcoin can be worth like this and like that at a certain date. That can be ridiculous actually as no one has the power to predict what can happen sooner or later especially with a volatile thing like this cryptocurrency. Well, it is good in case it can really happen but let's not bank on these personalities who are just enjoying the kind of limelight that crypto-focused media poured on them.

All this predicitons are used to spread FOMO or FUD in my opinion

It's hard to predict and even believe in prediction about the price of bitcoin especially when the prediction is for a long term. Even though he's an expert, it's still hard to believe 'cause we all know how volatile bitcoin is. Even with basis, it's still a prediction. I don't believe but I am hoping for a positive outcome in bitcoin regarding its price.

Okay, at first glance it seems very unrealistic. So let's put it in perspective. Q1 of 2023 is in, say, 3.5 years from now. Bitcoin is currently worth roughly $10k, so this prediction suggests the price will grow 25x. Let's start by analyzing whether it happened before. 3.5 years ago Bitcoin was worth around $400, so it managed to grow around 50x till the time of the ATH and roughly 25x till the current time. Interestingly enough, Tim's prediction is basically saying that the growth rate will remain more or less the same, and just like Bitcoin grew 25x in 3.5 years till now, it will do the same in the following 3.5 years. And that takes into account a year of the bearish market even! So I'd say it's realistic, even though unbelievable.

Let's look at the current price:

https://i.imgur.com/WBTlJAk.png

today is august 8 2019

And now let's imagine that the end of year end at the price of $15000.

and let's imagine that next year (2020) ends the year with the price at $55000

year 2021 ends at a price of $100,000 (something impossible in my opinion)

year 2022 ends at the price of $150,000 (something impossible in my opinion)

year 2023 ends with $200,000 (something impossible in my opinion)

Even though I make these assumptions, it is still impossible for his prediction to be realized. I wonder:

why the hell does he believe in this madness?

Firstly, the prediction was a long-ago made by Venture capital founder and you might be right when you said he's dreaming due to the previous prediction made by Tim Draper but if we research the price of the bitcoin market through TA there's a chance for bitcoin to cliche the price range he mentioned due to 2024 bitcoin halving.

I think Tim Draper's prediction has a valid basis since there are still of lot of room for growth in terms of Bitcoin's price but there are crucial factors that should be accomplished first such as increased adoption, more use-cases, support from Governments (a need for compromise on regulations) and support from major financial institutions. There is also a need to acquaint or educate more people from all walks of life to have a basic knowledge about Bitcoin and other cryptocurrencies and blockchain technology in general, hence the need to generate mass awareness  so that they can appreciate this disruptive technology and consequently benefit from it. Lastly, I agree with his price prediction of 250k but I don't support the idea that it will happen in 2022, but hopefully it will be realized a few more years ahead. Imho.

I don't think so, no. Its just yet another guy wanting attention, likes, views, whatever. Perhaps 50k~100k, assuming (2024) pre-halving bull run (like 2020 soon, did you check the 2016 one?). But i guess it will be more clear after this halving, after the bull and subsequent bear.

Bitcoin should be slowing its increases in price as time passes, not the other way around. It will never go on par to fiat though, fiats are devalued (by printing, etc) intentionally while bitcoin is not and in finite supply.

Even predictions of coindesk authors are not trustworthy as crypto market is not dependent on real factors unlike forex/share markets where the information gets leaked and the price can be predicted. Even expecting BTC to reach $50k sounds absurd and here he says it will reach $250k without any prediction pattern. Earlier some forecasters had given a particular pattern that bitcoin followed since 2013 to 2017 but even their predictions failed when the market crashed last year and till date it hasn't recovered.

This site is more believable: https://walletinvestor.com/forecast/bitcoin-prediction

Hmmmm that’s very hard to really agree on, I know bitcoin has a big potential and its possible to reach that amount but in 2023?, I don’t think so, bitcoin is still on the five digit mark today, 11,700 to be exact and reaching the 250$ in just 4 years is impossible. Bitcoin existed already for 10 years and it didn’t even reach even $30k so with new altcoins coming up and with bitcoin’s never ending controversies, I think it will not reach $250k in 2023.

My own prediction is that bitcoin will be trading at $20,000 by ending of 2019/early 2020.

I really think this is not smart speculation or prediction at all, this is what he wants bitcoin to be in 2023, This is truly wishful thinking but it is not bad that he wants a price that really exceeds most expectations at all, But if we would apply real speculative analysis over the price of Bitcoin to the year you want to predict any price it can land on, I guess by 2023 January it can really make it to $49,000 USD or $50,000 USD only and not over $250K that will be insane in my opinion, the price is at a resistance right now if the movement really continues to be like this in a bull run heist, I guess that will be a new all-time high by 2023.

I don't fully believe in the predicted price of bitcoin which will reach $ 250k in 2023, and I think that's too high considering the current price of bitcoin.

Well, y'all know who Tim Draper is, not? It's the guy who bought the 30000 Silk Road coins in 2014. So he's definitively interested in trying to push up the price if he's still sitting even on a part of that fortune. ;D

Apart from that, his prediction may seem utopic, but I think it's not fully impossible. Each 2,3 or 4 years we see a new hype cycle in Bitcoin (2011-2013-2017). I would have expected the next ATH for 2021 approximately, but the price catched up a lot faster this year than it did in 2015. So if we consider that the past "hype pattern" continues, we could see a new ATH next year, perhaps between 50 and 100K. After that, a bear market would happen, but then the next hype could drive us again well above 100K, and 200-250K would not be impossible.

Likely? I think not. But possible? I have been often surprised by the amount of FOMO in the Bitcoin investment community and insane jumps in price. However, I think 250K is very close to the "absolute maximum" I can think of the price of Bitcoin (at least if there is no collapse of the USD). We would talk about a market cap of 5 trillion, an amount that is superior to the USD M1 value (3.9 trn).

Not fan on following any so called crypto expert on the field telling their price predictions with bitcoin on upcoming years.No matter how good they are on their
past traditional fields it doesn't prove out that it would be similar into this very unpredictable market.

So its a big NO for me, speculations can also be given out by traditional joes in the market.

Be realistic this $250k is a huge amount of money and Bitcoin need a huge volume before touching this level, in my own opinion this prediction is far far away tobe realistic but everything is possible lets just wait and relax if you are true believer you will trust this prediction butfor me Iwill be happy if bitcoin will be back to its all time high.

That is almost 3years after the halving so for me the prediction is more accurate compare to any other personalities. This is just a safe prediction for that guy, but I’m also confident with bitcoin because if you see the current progress in cryptocurrency around the world, there’s a possibility that the demand will increase more in the next 3years.

Should I take any action when some expert launch their prediction toward bitcoin price in the future?

There are some factor who will be consider by some experts to say bitcoin will touch x price in the future and the main factor is halving on bitcoin itself.

I'm someone who have a confident that through bitcoin halving event the price of bitcoin will meet an increasing price.

Other than that I think there is many people who consider that bitcoin is included to a safe heaven place such as gold and this thing will make bitcoin have a high demand in the future.

Here's whats gonna happen: bitcoin price will hit $50k and you will sell all you have (assuming you have any). Price will dump to $35k and you will feel on top of the world. Then it will soar to $250k and you will stand there with your jaw on the floor saying wtf did I just do.
I'm not a time traveler, just using my own intuition.

Everything is very possible in the world, however, I really do not think bitcoin is going to reach a whooping $250k by Q1 2023. It is highly unlikely as bitcoin is still not totally accepted in my country.

Prateek_sharma, first try to use search button and you will see xx threads about Tim Draper prediction which is from April 2018. Second thing you should do is to stop promoting your site (or whoever is paying you to do that), link hidden with hyperlink can only fool newbies and ones who act like that regardless of rank.

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Regarding your question, Tim Draper is predict price of $10 000 in 2014 in this video : https://video.foxbusiness.com/v/3801541401001/#sp=show-clips , and he was absolutely right with that. He is not some Tom Lee or John McFee who are saying nonsense almost on daily basis, but a serious business man who make profit by investing into new and potentially profitable things.

Will he be right this time too or not? Only time will give the correct answer, but everyone needs to engage their brains when it comes to making any investments, and not to listen to the advice of random people on the internet.

I will prefer to wait and see because I see that there are many people who will say like that. Everything can happen in the cryptocurrency market, and some people can right of making the prediction. I don't know whether people are right in the prediction or not, but they can be one of the people who are predicting the cryptocurrency market with the right. So, we still need to wait at least 3-4 years later to see if that will happens or not, and right now, we should save more bitcoin.

We shouldn't think for the future.
Rather we should think of the present.
Moreover the future depends only on our present actions.
So the activities that can lead to the rise of Bitcoin price can be the market cap.
So the prediction is just worthless.
Anything and everything can happen in that time period.

Most of these so-called Bitcoin experts are always saying nonsense without a valid proof on how it will going to hit with that price on the said date. I stop believing them since no one could actually gonna tell what would be the future and their prediction is not that convincing to follow at all. As i see the price today it is too impossible to reach $250,000 in 2023, maybe even $100,000 seems too much for Bitcoin to reach yet.

I think the year 2023 is just too further away to make a prediction. Everyone thinks this is another bull prediction and between Tim Draper, tom lee and John Mcafee we had plenty of bull predictions so this one doesn't make any difference, some of them even made predictions it will be 15k by the end of this month but I do not see it happening at all but at the same time 2023 so further away that anything could basically happen until than and 250k could totally happen.

I personally feel like 2023 is the perfect time for that 100k price point, I know that sounds unreasonable and sounds unrealistic but 100k is something we all have been waiting for and in 4 years time why shouldn't it happen? As long as everyone starts to believe it than sellers will stop selling at these prices and buyers will keep on buying until we hit 100k, it is totally doable if you ask me.

Did you watch video I posted few post above your post or you just read title and last post?

If you were listening Tim Draper back in 2014 then you will not call him "so-called Bitcoin expert", he can not predict future, but he perfectly understands the potential of Bitcoin, and why is impossible for you that 1 BTC can be worth $250k in 3-4 years?

It is very likely that during this period Bitcoin ETF will be approved, and this will be something which will make the price literally explode. In 2017 price is go up x20 just because of FOMO created by media and Bitcoin futures, and it is not hard to imagine what could ETF approval would do to crypto market. 20 times up from today price is $200k+, and when it comes to Bitcoin such a goal is certainly possible to reach.

Do you expect me not to agree in the first place? of course I would agree because I also have my investment in bitcoin also, and when I see good news that will further promote bitcoin, I would surely support it in the open and if I have any doubt about it, I secretly discuss it within me and call the speculator a fool or unrealistic person if I have to.

In the case of Tim Draper, I don’t expect him to say anything less against bitcoin because he has his own personal interest in bitcoin based on his investment and so has we have many other influencers that have their investment in bitcoin. To predict bitcoin isn’t that easy, we can only speculate the price based on some person factors we see to arrive at that, but for me, I am not so sure bitcoin can go that high.

I don't trust in predictions, no one have this knowledge because depends of factors that no one can predict

But it's good to hear a prediction like this one because people could be more optimistic about BTC

Every ATH is followed by at least 2-4 years of a bear market.
If 2020 gets us to 70k which is a far stretch then 2023 will only just have recovered and will be at most 100k. Then around 2025 we would be at 210k.

This is an optimistic view.... assuming 2 year bear markets.

2023 , that was four years from now   .  four years is not so long but his predictions is crazy  .  if we look on the past years of bitcoin , on 2015 bitcoin only valued at over 500usd and four years later on 2019 the price is now at over 11kusd   , so if we count its gains for over the four year course  it only gained over 10k usd  .   now if we will count four years again , my guess would be the price of btc is around 15k usd only   .

It's only good if the price actually gets there, otherwise people just end up being disappointed (which they then have only themselves to blame for).

The thing here is that you shouldn't follow perma bulls sitting on a large stack hoping it will pump to the moon. Just do your own research and figure out yourself why Bitcoin will go to that price or not. I like Tim Draper, and he has had some right calls, but these calls were just lucky shots. Luck runs out and chances are that he is wrong with his current prediction.

I'm perfectly fine with Bitcoin slowly marching towards that $100,000 mark. Let it take 4 or 5 years, so what? $50,000 is all you need to have a $1 trillion market cap.

This price is not reachable but it's really difficult to predict the price of bitcoin in 2023 even for a expert person. Bitcoin price is so volatile and there are many factors should be considered. Many unforeseen things might happen.

This is more tha 4 years from now and it’s such a long years to speculate today so for me this is too soon to take seriously.yeah Tim Draper is i bitcoin bully and I know that all he wants is to push the bitcoin supporter to continue holding and bagging but the price is too high that I think will take atleast minimum of 10 years to reach

Though it doesn’t affect me because I am willing to take the risk and keep holding .my folio can stay for couple of years And maybe more if I see the market favors them

If we take the four-year cycle into consideration, his prediction will be legit if the price reaches one million at the end of 2021, followed by a 80% crash in 2022.

No offense but i still don't believe that Bitcoin would be worth $250k in 3-4 years. I don't want to sound like pessimistic here but i am thinking realistically here of what could happen in the future. What happens in the past might not be going to happen again in the future. Technology is always changing and people too. Bitcoin ETF might give a cue for a future bull run but it is still on progress for approval.

2023 is too long to predict anything, it could be 1000 by 2023 or it could be a million dollars and we wouldn't know the difference from today. Hopefully, I would like to see it above 50k at least until then, not in 2023 though like before that, hopefully after this halving it could be totally reaching to 50k before or after that halving, I am not sure but that is at least my hope.

These predictions are all hope actually, the market is not tied to anything and no indicator could predict the market because only thing that matters in crypto market is what people think the price should be like. For example, if people think it should be 250k then people would stop selling bitcoin under 250k because they think it should be 250k and buyers will start buying until it reaches 250k, hence there is really no prediction of what people may think about it in 2023.

I think it's possible, therefore I would agree with the prediction.

That's more than 3 years to make it possible and given the price history of bitcoin, it's likely to happen, what we need is just to make a new ATH and then for sure bitcoin will skyrocket again before it will start to be stable again.

In the past, particular last 2018, there was a long correction that resulted to a bear market, I think once market starts to recover, it will not happen again.

Well, when we talk about the value and vision of the future of bitcoin, I have a lot of similarities with experts when they talk about bitcoin's development but for price predictions, I really don't have much faith because they often rely on historical figures for random judgment, this may be reasonable when we talk about the near future but talk about the far future, that would be a mistake. The market and value of bitcoin cannot increase exponentially as crypto experts predict, it has too many factors to influence and hinder these predictions.

Bitcoin will skyrocket, I know, but it would skyrocket to a more imaginable figure and not all these unimaginable figures that people are just guessing left to right. Before bitcoin can reach such amount of value within the next 3 years, honestly, it must have gotten to that stage where it will not have rivals again in the market, and also gotten to a stage where it would have been approved by government, sec approving the ETF, and then there would have been at least 80 percent of total world’s population become aware of bitcoin, and the rushing to place demand for the little left supply in the market, then that could be possible to create every high value for bitcoin, but I don’t really think that bitcoin will grow more than $50 to $100k within the next 3 years.