Tim Draper predicts bitcoin will hit
$250k??
"That's my prediction. Sticking with it. I'm very confident that that is going to happen. That’s happening. It's kind of funny."
My prediction bitcoin will be around
$25 - $30k by 2023 becuase there will be alot of certainty regarding the economy..
Luke FitzpatrickContributor
Crypto & BlockchainBitcoin, born from the Global Financial Crisis (GFC) of 2007-08, is now outperforming stocks and gold. With the bitcoin halving event scheduled to take place in 5 days, all eyes are heavily focussed on bitcoin, an asset that has only 21 million bitcoins in existence.
During the bitcoin halving, block rewards are cut in half from 12.5 to 6.25. To recoup the block reward reduction price loss, bitcoin miners postpone selling their bitcoins in order to sell them at a more profitable price several months, up to a year later.
In effect, supply is reduced on a month-by-month basis and each month after the halving, bitcoin becomes extra scarce. As a consequence, assuming that the demand stays the same, then the price of bitcoin will naturally increase each month. And, this is exactly what happened during the 2 previous bitcoin halvings.
First bitcoin halving: During 2012, the price of bitcoin increased from $11 to $1,000.
Second bitcoin halving: From 2016-17, the price ballooned from $700 to $20,000.
Third bitcoin halving: Scheduled on May 12, 2020 (the price impact is still yet to be seen).
After what we all seen the economy crashing oil price in the minus where does this leaves us??
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many newbies do get frustrated with this bitpay URL having to force signup!
