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Author Topic: [2018-06-14]With the Bitcoin Price Falling, Tim Draper Assures It Will Go Up to  (Read 55 times)
Vladdirescu87
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June 14, 2018, 02:46:46 PM
 #1

With the Bitcoin Price Falling, Tim Draper Assures It Will Go Up to $250,000

The value of Bitcoin (BTC) is experiencing its new low since February 2018, trading slightly above $6,430. The digital currency has fallen by more than 11%, pushing its monthly losses to the mark of 25%. However, Bitcoin bull Tim Draper believes that the crypto coin can reach $250,000 in a four-year term.
The reduction in price seems to be gaining momentum, as bitcoin trading is currently conducted on the level of $6,430. However, the crypto market evidences a high selling pressure. If we look closely at the 4-hour timeframe chart, it will show that the price of Bitcoin has not managed to go further than $9,500 in May. Besides, we can point out a couple of support zones, but they have failed to resist to the prolonged bear pressure.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-price-falling/



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June 14, 2018, 07:57:51 PM
 #2

The actual prediction made by this guy is actually that bitcoin will be able to get up to $250k by 2022.

In my opinion, this is unlikely to happen. I simply don't see the same level of hype and bullishness that we saw in the last bull market transfer to the next one, even though institutional investors are definitely coming into the markets now.

There is still no reason for panic, though. Obviously prices are still falling at the moment, and I think that it'll take around 1-2 years to actually start a recovery. There is still more time to go for consolidation, but if you are patient, the bull market will come eventually. That's how the markets cycle.

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June 14, 2018, 08:03:19 PM
 #3

Another day another assurance we do hear of! $250,000?

We do even struggle on breaking $10k price of btc how much more on future years lets say 4 years from now. Imagine on what would be the marketcap of btc if it hits up that price. Unless if theres full adoption then its possible but we know on the current standing or situation of bitcoin. It can be adapted but not on general means on going to full scale.

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June 14, 2018, 08:24:56 PM
 #4

In my opinion, this is unlikely to happen. I simply don't see the same level of hype and bullishness that we saw in the last bull market transfer to the next one, even though institutional investors are definitely coming into the markets now.
Well, the next bull run pushing Bitcoin to astonishing highs will likely be driven by institutions. I think we aren't all that far away from a market where institutions squeeze out weak hands and start dominating crypto.

Positive aspect will be that with professional capital in this market we won't be swinging up and down as heavily as we are doing right now. The worst thing people can do is selling coins to institutions.

People gained an incredible advantage over institutions by entering before their multi billions, so please don't mess it up. You are guaranteed to buy your coins back at higher levels in the very far future, it's not worth it.

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June 15, 2018, 01:39:14 AM
 #5

I like how he rolled out his 4 year plan about Bitcoin but I don't think that is enough as he only do it as a hodler. Which means that he won't be selling until his target is reach. It will be more efficient with his money if he tried to buy and sell the highs and lows of Bitcoin just like what other traders are doing. Also just giving his words like that is not enough as he hardly backed it up with facts to support his 250,000$ price target.

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June 15, 2018, 01:19:44 PM
 #6

Tim Draper give this announcement about two months ago, now he give some interview and this again become a news? The same story in the new arrangement, but at least he explain why he think price will go to that level by the year 2022. By the way in the article is written 220 000$, this is just mistake in writing which is often happening on coindol site...

I like how he rolled out his 4 year plan about Bitcoin but I don't think that is enough as he only do it as a hodler. Which means that he won't be selling until his target is reach. It will be more efficient with his money if he tried to buy and sell the highs and lows of Bitcoin just like what other traders are doing. Also just giving his words like that is not enough as he hardly backed it up with facts to support his 250,000$ price target.

He is not only holder, he invest a lot of money in crypto related projects like Coinbase an some others. Also he predict in 2014 that price of 1 BTC will hit 10 000$ in next 3 years, we all know he was right about that, some may say it was only luck. Personally I have not seen person who support BTC with more passions then Draper, but even 250 000$ in 4 years looks too much just remember beginning of 2017 and BTC price of only 1000$. If you read somewhere it will go up to 20 000$ at the end of that year, what do you think then? Probably same thing you think now, and Draper have no intention to sell, it is stated in article.

Quote
“Price-wise, we’ll continue to see Bitcoin move higher. I’ve revised my estimate up to $250,000 four years out, so we’ll see Bitcoin trade around the $250,000 mark in 2022.” He added, “I have no interest in selling my Bitcoin. What would I sell it into anyway? Moving from crypto to fiat is like trading shells for gold. It is reverting to the past. I’m thinking long term I’ll use it, spend it, invest it, or just keep it.”

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June 15, 2018, 03:53:22 PM
 #7

This is a very high price, $ 50,000? What would be the value of Market Cap? but I would accept if he said something like $ 70,000 because I think it might be achievable. In order to reach $ 70,000, I believe we would have to have a large demand, we would have to have many millionaires and billionaires investing in bitcoin and we would have to have more flexible regulations that would allow each person to buy bitcoin using his credit card and debit card

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June 15, 2018, 07:35:42 PM
 #8

In my opinion, this is unlikely to happen. I simply don't see the same level of hype and bullishness that we saw in the last bull market transfer to the next one, even though institutional investors are definitely coming into the markets now.

You don't see hype and bullishness because we are in a bear market! Did you see any of those in 2016 when BTC was trading for $300-400?
It's just the way it is.
That said, there are certain things that haven't changed for 9 years. One of them is that BTC never retraces back more than a year from its ATH. So, if in December 2017 we had the ATH of 19k and in December 2016 the price was 316 USD the price should never touch that point and IMO it won't. This means that every year your BTC investment is worth more. Each bull market is pushing us up permanently. We can be waiting for the next hype a year or two, but it will come.
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