CNBC’s Brian Kelly Supports Tim Draper’s BTC Prediction Of $250,000 By 2022

[dioneparaiso]

After investment tycoon Tim Draper said earlier this week that Bitcoin (BTC) could hit $250,000 by 2022, CNBC Fast Money’s Brian Kelly has supported this prediction in a CNBC interview from yesterday, April 13.

In response to a question about Draper’s high prediction, Kelly responded that although “it sounds crazy,” when one considers that BTC already had a 4,000 percent return over two years, a 3,000 percent return over four years could be a “continuation of the trend we’ve seen.”

Kelly continues by noting that an increase of institutionalized money into the crypto sphere - Rockefeller’s VC arm, a Goldman Sachs executive, and Soros Fund Management - may dampen the volatility of cryptocurrencies, making them easier to use as actual currencies, and making it take four years (rather than two) to reach Draper’s suggested 2022 price point.

https://cointelegraph.com/news/cnbcs-brian-kelly-supports-tim-drapers-btc-prediction-of-250000-by-2022

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[Proton2233]

After such well-known speculators as Soros paid attention to cryptocurrencies, you can not believe any media. I still don't trust anyone. Soros can buy all the media several times. But the fact that the vector of the news direction changes to positive is good. This is a sure sign that the price will rise.

[alyssa85]

After such well-known speculators as Soros paid attention to cryptocurrencies, you can not believe any media. I still don't trust anyone. Soros can buy all the media several times. But the fact that the vector of the news direction changes to positive is good. This is a sure sign that the price will rise.

In January Soros was telling everyone who would listen that bitcoin was a bubble. He clearly wanted it to fall - he probably had shorts in place, and as it is unregulated, it's ripe for such practices as talking the price down.

Now he says he's going to invest in cryptocurrencies - that means he's closed his shorts and cashed out, and has maybe gone long.

[mrtryonebiggums]

I think the VC money coming is akin to what happened at the end of last year. Nobody expected such a meteoric rise in such a short fashion but it happened. I have no idea how or when Bitcoin will boom up, but I am pretty confident one day we soar into ATH territory and be in between anywhere from 30-80k depending on how bullish the VC's are. Of course this could be a long time away, or it could happen sometime later this year, but I am quite confident it will happen at some point in time.

[cellard]

Just remember when Tim Draper went on national TV claiming the price would be $10k by 2017... no one believed him, it was all over the forums in here too, most people said he was insane, delusional and he should be put into a mental hospital.

Fastforward 2 years and then 2017 arrived, and we all know what happened, it went $10k higher than his initial prediction, so I wouldn't be surprised if we hit $500,000. Hell, I wouldn't even be surprised McAfee is right.

https://fnordprefekt.de/

Assuming a steady growth rate, we are still doing fine.

[bobo012]

It is just really guessing. It is a prediction that may or may not come true. Guess we need to wait till 2022 and see for ourselves.
Hope we see that price mark, but i will also be happy with 100k XD

[BrewMaster]

i've got a feeling that they just changed their stance about bitcoin because it started rising. don't get me wrong i like hearing this kind of good news in the media as much as the other guy but i can't help but notice the big rise speculation coinciding with the rise! and the bad news about bans, hacks, drops,... coinciding with the drop...

[Hydrogen]

CNBC isn't that much more accurate than weather forecasts these days. One second they say it will be snowing tomorrow, the next second they say tomorrow will be sunny. CNBC appeared thoroughly convinced bitcoin was a bubble. Now they're saying bitcoin's price will appreciate to $250,000 by 2022. Its hard to know who to trust or believe with everyone saying the opposite today of what they were saying yesterday.

I think that they might be encouraging a bitcoin price rise in anticipation of their next dump which could be accompanied by a short selling leveraged position on CBOE futures. They don't necessarily have to kill bitcoin, outright. They only have to kill public confidence in bitcoin as a vehicle for building long term value under a HODL model. If that's the case buying in, then selling. Then short fading when bitcoin reaches what appears to be a high position could be the go-to strategy for trading btc over the short term.

There is also a chance that with liquidity in fiat markets dwindling on high student loan debt and credit card debt the wealthy may have decided to move on to tap crypto liquidity as the logical avenue in order to keep demand a steady constant and prevent price/value declines fueled by diminishing affordability propped up by by wage/wealth inequality.