[2018-03-26] LDJ Capital's David Drake: Bitcoin Will Be Worth $30K at the Year..

[Terraformer]

LDJ CAPITAL’S DAVID DRAKE: ‘BITCOIN WILL BE WORTH $30K AT THE YEAR END’

LDJ Capital founder and chairman David Drake went on record, saying that “Bitcoin will be worth $30,000 at the year end.” After a “cold winter” for cryptocurrencies, the noted investor says that 2018 will shape up as a refining one for the field.

" Cryptocurrency Wall Street Time"

Speaking to Bloomberg, LDJ Capital’s David Drake went on to express his positive outlook for the direction which Bitcoin is moving. He notes that cryptocurrency is hot in Asia right now as well as the US, which he states is the “biggest market right now.” Drake is very optimistic, predicting a serious surge in the price of the world’s leading cryptocurrency. This is due to increasing guidance from regulatory bodies as well as Wall Street getting more involved.

While Drake does believe in the bright future of Bitcoin, he seems to have a rather different take on it compared to Twitter’s CEO Jack Dorsey, who said that Bitcoin will be the internet’s “single currency” recently. Instead, Drake insists that “hundreds” of different cryptocurrencies shall remain present on the market.

Continue reding >> http://bitcoinist.com/bitcoin-will-be-worth-30000-at-the-year-end-says-ldj-capitals-david-drake/

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[BitHodler]

Nothing more than a prediction based on nothing but speculation. It's not entirely impossible to happen, but things have to change drastically, and I'm not sure if that's going to happen within the current year.

My main target will be to see the market settle over the $10,000 mark, and everything we manage to increase beyond that, will be seen as a great bonus for me. I am totally prepared for a slow market this year.

I like how he distance himself from the outrageous statement of the Twitter CEO not that long ago. It was just too much to be taken seriously. I would even say that the Twitter CEO developed a bias due to his investment in Bitcoin.

People like that don't usually come up with similar statement unless they really see a future in it, and that's debatable when it comes to the Twitter CEO.

[prehisto]

Altough complete speculation , I think that it is not a bad forecast.

One thing that we can look at is other similar economic situations in past like Apple stock or other stocks which had a initial bubble and the secondary much bigger one after some time .

[Slow death]

This year is very difficult because of the regulation and the barriers that many banks impose, many governments have adopted very harsh and exaggerated positions, have often used TV channels and newspapers to tell their people not to invest in bitcoin because it is very dangerous. But the same government encourages its people to make loans to banks with high interest rates even knowing that their poor people will not be able to repay these loans. Visa and mastercard are other companies that have adopted very exaggerated and malefic postures against bitcoin. We need people to feel safe for what they invest in bitcoin, there are many billionaires and millionaires who do not have bitcoin

[1Referee]

My main target will be to see the market settle over the $10,000 mark, and everything we manage to increase beyond that, will be seen as a great bonus for me. I am totally prepared for a slow market this year.

I think that's probably the best way to look at current market, because short term speaking, there is no significant demand, it's clearly visible. If we see the market dip under $8000 again, which might turn out to happen today or tomorrow, that will very likely push the market further down where it possibly will test the most recent bottom of just over $7300.

If we look at the overall network usage, it's pretty low, and that for a longer while; block no longer are filled up consistently, which says enough. Segwit might play a small role here, batching transactions too, but we have to acknowledge the lower demand and lower usage. It's however great for people looking to transact at super low cost. I'm still used to automatically include fees of like 0.0005BTC, but have to correct myself and just go with fees ranging from 0.000005/0.00001BTC, which 75% of the times results in first block confirmations.

[Baoo]

Well, the capitalists ( like, DAVID DRAKE) are  always manipulating the users of bitcoin through the media. As well, it is true that $ 30K  is not a big price and it  could be achieved in this year, but I cannot believe these capitalists and "MCAFEE" is one of them, and  they give some expectations that are always wonderful like, $ 100K and $ 500K, their only goal is to deceive the bitcoin users to buy large amounts of this currency, So that their profits become so huge because they are invested the largest proportion of Bitcoin. Furthermore, they are may be the cause of this big crisis in the market, but hope that bitcoin will  rise significantly this year .

[Alex077]

Nothing more than a prediction based on nothing but speculation. It's not entirely impossible to happen, but things have to change drastically, and I'm not sure if that's going to happen within the current year.

Such people usually do their calculations using own market vision and experience. Of course, they can make mistakes (and they actually make them very often), but their predictions are always the result of a fiddly analysis of the situation.
It only seems that experts just call random price from 25 000 to 1 000 000 and that is all.

[Vladdirescu87]

David Drake is a person who participates in dozens of ICO as advisor:)

Maybe, he really believes in all those projects or just wants free money/tokens

And, of course he wants Bitcoin to rise and Ethereum as well.

[TravelMug]

David Drake is a person who participates in dozens of ICO as advisor:)

Maybe, he really believes in all those projects or just wants free money/tokens

And, of course he wants Bitcoin to rise and Ethereum as well.

So it really makes sense for him to make this kind of bold prediction because he is  really indeed involved in the crypto industry. I would like others, who are not into crypto to be very bullish about it but so far we haven't seen anyone because they don't want crypto to thrive in the market.

So I'm not surprise from the prediction of David Drake, we need someone like in other industries to make predictions about the end price of bitcoin this year. Someone influential, like probably a head of a country's Central Bank, but I don't think we will hear them anytime soon.

[darkangel11]

Nothing more than a prediction based on nothing but speculation. It's not entirely impossible to happen, but things have to change drastically, and I'm not sure if that's going to happen within the current year.

Just like all those bearish predictions that posters are taking straight from their buttholes. Just yesterday there was someone predicting 2000 USD by the end of the year in the economics section. Personally, I like these extreme predictions like the one above. It makes me happy to see that so many people are even more bullish than me.

This year is very difficult because of the regulation and the barriers that many banks impose

While some of those very same banks that you're talking about are testing blockchain.

PKO Bank Polski is tapping technology from blockchain outfit Coinfirm to build an immutable record of client transactions and agreements.
https://www.finextra.com/newsarticle/31876/pko-bank-polski-to-store-client-files-on-coinfirm-blockchain

[pimacoin]

Is only time will tell. just as it surprises everyone last year. Expect more surprises this year.

[MoonJeina]

Now that is very optimistic. It is definitely not impossible but that is just seems too difficult to attain right now . Even thinking about it seems difficult right now . I would definitely wait for some positive rise in bitcoin and some barrier breaking by bitcoin before speculating such prices . I know bitcoin is the world of unexpected events but those events can be both favorable and unfavorable.

[Karartma1]

We are a witnessing a bear market in price terms but in terms of development these last months have been amazing. Have you guys heard of Lightning Apps (LApps)? Whatever you think of Blockstream this is future in the making
https://blockstream.com/2018/03/29/blockstreams-week-of-lapps-ends.html
Price will follow

[richardsNY]

We are a witnessing a bear market in price terms but in terms of development these last months have been amazing.

Developments have been great indeed, but the market itself doesn't reflect developments, but speculation only, unfortunately. People are too busy worrying about whether or not Bitcoin is nearing its end, while in reality Bitcoin's ecosystem has never been stronger than it is right now. Speculative achievements overrule everything on their way, and that's all people care about apparently. The market hasn't reacted one single time to lightning network, the recent development in Belarus, etc. But then again, as soon as the price is going back up again, the current panic sellers will buy back their coins at heavy premium levels, that's a solid guarantee. Great thing is that this market doesn't discriminate -- no matter your current stance regarding Bitcoin, you can always hop back on board.

[MaydayMayday]

We got a lot of people, each of them has his own opinion about bitcoin, crypto and blockchain. Some say that it will perish soon, some see bitcoin as the only currency after some time. Don't know to whom should I believe to be honest

[Universal pics]

Hope it is truth. The beginning of 2018 was made of bad news connected to the market and now the situation tend to be more gloomy and sad for everyone

[TrumpD]

It'd be nice for him to put his money where his mouth is. Him rallying other wealthy investors to buy a lot and HODL will bring the market back to stability... Just saying.

[squatter]

It'd be nice for him to put his money where his mouth is. Him rallying other wealthy investors to buy a lot and HODL will bring the market back to stability... Just saying.

He's just talking his book. If anything, he's probably trying to hype the market so he can sell into it. That's how these traders and funds usually operate.

We are a witnessing a bear market in price terms but in terms of development these last months have been amazing. Have you guys heard of Lightning Apps (LApps)? Whatever you think of Blockstream this is future in the making
https://blockstream.com/2018/03/29/blockstreams-week-of-lapps-ends.html
Price will follow

Bear markets are a great time for ecosystem and infrastructure development. Skyrocketing price and overwhelming hype can be a big distraction for developers. If the bull market is over, then it's time to build stuff.

As for whether price will follow? I'm sure it will, but when? This could be like 2014 all over again.

[Alex077]

LDJ CAPITAL’S DAVID DRAKE: ‘BITCOIN WILL BE WORTH $30K AT THE YEAR END’

LDJ Capital founder and chairman David Drake went on record, saying that “Bitcoin will be worth $30,000 at the year end.” After a “cold winter” for cryptocurrencies, the noted investor says that 2018 will shape up as a refining one for the field.

Of course, I would like to believe in Bitcoin's strong growth but after last events (things) with bans and regulations, I think it is 20 000 by the end of the year with a good scenario.

[KatyaDurst]

Again - this is something intangible. We got only one thing left - hope that it is truth and Bicoin will go up