Billionaire Tim Draper Stands By Bullish $250,000 Bitcoin Price Target For 2022

[oksgvardukraine2018]

Billionaire Tim Draper Stands By Bullish $250,000 Bitcoin Price Target For 2022
Tech billionaire Tim Draper stands by his bitcoin price target of $250,000 for 2022. Despite the recent slump, Draper remains undeterred in his enthusiastic outlook for the largest virtual currency by market cap.

“This is going to be so big, so if you see a dip [in prices], jump in,” Draper told TheStreet at the 2018 Crypto Finance Conference in Switzerland. “Maybe it will dip further, but boy, I made that prediction and I’m sticking to it. $250,000 by 2022 for bitcoin.”

After a massive spike in 2017, BTC prices tumbled 50 percent in 2018. Despite the recent bear market, crypto’s profile has never been higher, and the industry continues to expand.

‘Believe It, It’s Happening’
In April 2018, Draper generated countless headlines after boldly predicting that bitcoin would soar to $250,000 by 2022, as CCN has reported. And nothing has happened to change his outlook.

“They’re going to think you’re crazy, but believe it,” he said. “It’s happening and it’s going to be awesome!”

Draper has an impressive track record with predicting bitcoin price movements, so it’s hard to dismiss any forecast he makes.

In 2015, the venture capitalist accurately predicted that bitcoin would top $10,000 by the end of 2017. BTC soared above $13,000 on December 31, 2017.
https://www.ccn.com/billionaire-tim-draper-stands-by-bullish-250000-bitcoin-price-target-for-2022/

[franky1]

3 years hmm

$6k to $250k.. hmm

math time
if bitcoin is to stay at $6 this year
it only needs to *3.46681 each year
end of 2018 $6000
end of 2019 $20800.86
end of 2020 $72112.63
end of 2021 $250000.79

i think a ~3.466x price increase is normal, healthy and achievable after all if we done the same number historically
EG
lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

[Pursuer]

"stands by"? LOL.
it seems like news sites are running out of bullshit to publish so they sometimes start re-posting the same old news again. specifically since they move with the current and the current market current! is a rising one (even if it is a small one) so they started pulling out old news.
nothing has changed for predictions like this to change. $250k is still as possible as it was before. no more, no less. and it is mainly based on extrapolation of some data and based on history of bitcoin and its spikes.

[jseverson]

"stands by"? LOL.
it seems like news sites are running out of bullshit to publish so they sometimes start re-posting the same old news again. specifically since they move with the current and the current market current! is a rising one (even if it is a small one) so they started pulling out old news.
nothing has changed for predictions like this to change. $250k is still as possible as it was before. no more, no less. and it is mainly based on extrapolation of some data and based on history of bitcoin and its spikes.

To be fair, he actually reiterated it because he was asked about it in an interview. Here's the source article with the interview itself:

https://www.thestreet.com/investing/bitcoin/tim-draper-reiterates-250000-dollar-bitcoin-price-target-14712907

It was actually pretty interesting, but of course the media focuses on his prediction lol. I didn't know he was able to buy Bitcoins off the Silk Road coins auction.

[exstasie]

lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

Bitcoin is prone to blow-off tops, so I'd agree it's a conservative estimate. I think the next wave will go considerably higher (into the millions), but it's impossible to predict. I also really wonder how long this kind of growth can sustain for.

To be fair, he actually reiterated it because he was asked about it in an interview. Here's the source article with the interview itself:

https://www.thestreet.com/investing/bitcoin/tim-draper-reiterates-250000-dollar-bitcoin-price-target-14712907

It was actually pretty interesting, but of course the media focuses on his prediction lol. I didn't know he was able to buy Bitcoins off the Silk Road coins auction.

I think that's why people care about his prediction. In mainstream circles, he's viewed as a bit of a wacko. But bitcoiners love him because he bought into the bear market in 2014 (the SR auction) and then he predicted correctly that BTC would hit $10,000 by 2017.

[talkbitcoin]

Bitcoin is prone to blow-off tops, so I'd agree it's a conservative estimate. I think the next wave will go considerably higher (into the millions), but it's impossible to predict. I also really wonder how long this kind of growth can sustain for.

i don't think we are ready for the millions price yet. and that would be such a gigantic rise and it is unlike bitcoin to have a rise THAT big. the next round would probably be another 10x rise to $100k levels then with a new bubble afterwards which would require correction.

[buwaytress]

Oh great, only a quarter million in four years, "only" a 40x multiplication of US dollar price? So I'll still need to get 4 BTC by 2022 to be a millionaire? Tall order as it is at today's price. Probably progressively harder if price climbs in 2019, which it will have to if that target wants reaching.

I suppose it's still "more realistic" than McAfee's big million-dollar prediction.

Might be worth noting that all these estimates make sense if we only look at temporary ATHs. 250k might get hit, but we're likelier to see far lower constants and averages.

[davis196]

3 years hmm

$6k to $250k.. hmm

math time
if bitcoin is to stay at $6 this year
it only needs to *3.46681 each year
end of 2018 $6000
end of 2019 $20800.86
end of 2020 $72112.63
end of 2021 $250000.79

i think a ~3.466x price increase is normal, healthy and achievable after all if we done the same number historically
EG
lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

Bitcoin can triple it's price during the next three years only if:
1.All altcoins are destroyed and all crypto traders use bitcoin only.
2.China and India accept and adopt bitcoin on a massive scale.
3.Bitcoin got approved as an exchange traded fund (ETF).
4.USA and Europe become more bitcoin-friendly.
5.All the FUD stops.

Is any of the above things going to happen?I don't think so....

[cellard]

It's definitely doable. Remember that when people were calling $3k when we were at $1k, they were saying that was too optimistic. Next thing you know, we ended up at $20k by the end of the year against all odds.

People just don't realize that bitcoin is extremely tiny. It's just crazy how one single guy owns more than the entire marketcap (Jeff Bezos), this puts things into perspective. For a global world reserve currency anything but several trillions, at least similar to gold, it's just insanely undervalued, but people aren't wired to deal with big price increments, they will always think in linear terms and they will calling people that buy the dip lucky when it goes to the moon time after time.

[sunanbonang]

this sounds impossible, tom lee said the price of bitcoin will reach $ 50k by the end of this year but the predictions made do not seem to happen. moreover now the bear market is still ongoing. honestly from that time alone no longer believe in predictions.

[LeGaulois]

$250k in 4 years by now is too much but I won't complain if it becomes a reality, trust me :p
But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

[1Referee]

$250k in 4 years by now is too much but I won't complain if it becomes a reality, trust me :p
But theory and practice are different. It's still a speculation and it will stay until proven.

By the time it is 2022 the price has gone up to such degree, that people won't even bother pointing him at his wrong prediction.

He can always say; well, the price didn't go up to $250,000 but we are at least above $100,000 which is fine as well, and everyone will agree with him.

Honestly speaking. I hope for the sake of Bitcoin that we won't reach $250,000 by that time. I prefer Bitcoin to be fundamentally ready and reflect being worth such figures before actually reaching them. Bitcoin as it is right now is not fundamentally ready. It will be eventually, but there is no need to rush things. Let's enjoy this journey, because this is the first and last one we'll ever be able to witness.

No idea why people don't call me Bitcoin analyst expert when I make such claims

You are an expert amongst a community full of other experts. Now happy? I'm still more expert than you though. I'm the expertest expert in existence.

[Wind_FURY]

3 years hmm

$6k to $250k.. hmm

math time
if bitcoin is to stay at $6 this year
it only needs to *3.46681 each year
end of 2018 $6000
end of 2019 $20800.86
end of 2020 $72112.63
end of 2021 $250000.79

i think a ~3.466x price increase is normal, healthy and achievable after all if we done the same number historically
EG
lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

Or it would be better to base your forecasts on past performance.



I believe it said $100,000 on 2021, and near Tim Draper's 250,000 prediction on 2020.

All the pieces of the puzzle fits!

[jseverson]

But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

I completely agree that this is all completely speculation, but Tim Draper isn't really considered an analyst. The only reason people care about his predictions is because he predicted that Bitcoin would hit $10k in 3 years back in 2014, which ended up being true. He's really just a permabull who got lucky with an almost equally absurd prediction in the past. Getting an absurd prediction right kind of makes his newer ones seem less absurd, but I'm not holding my breath for it lol.

But yeah, if he gets lucky again I'm not complaining either lmao.

[wuvdoll]

"stands by"? LOL.
it seems like news sites are running out of bullshit to publish so they sometimes start re-posting the same old news again. specifically since they move with the current and the current market current! is a rising one (even if it is a small one) so they started pulling out old news.
nothing has changed for predictions like this to change. $250k is still as possible as it was before. no more, no less. and it is mainly based on extrapolation of some data and based on history of bitcoin and its spikes.

They have always run out of bullshit to post a long time ago since they never end up having any real news at the end of the day though. You are totally right with $250k being possible at that point in time he mentioned, if all things being equal and looking at the 3.466 incremental percentage franky1 made clear and in that case, probably by then, without any craziness in the market, one might see $252,653.36 in even 2021.

Moreover, all this would just be assumptions anyway as we all do not know what the future can hold anyway, but it sounds a lot plausible.

[Wind_FURY]

But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

I completely agree that this is all completely speculation, but Tim Draper isn't really considered an analyst. The only reason people care about his predictions is because he predicted that Bitcoin would hit $10k in 3 years back in 2014, which ended up being true. He's really just a permabull who got lucky with an almost equally absurd prediction in the past. Getting an absurd prediction right kind of makes his newer ones seem less absurd, but I'm not holding my breath for it lol.

Then what would be the maximum price, that you can imagine, for Bitcoin in 4 years?

If your maximum price is less than 6 digits, then I believe you are short-changing those coins in your wallet. Haha.

[audaciousbeing]

When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

[nydiacaskey01]

Looks like the formula used to attain $252,653 USD is 246% increase every year and if that formula is correct $252,653 USD is really possible. Last years growth if you start from December 16 2016 to December 18 2017 it shows that growth is 2,286 %. That is $780 USD at December 16 2016 and $18,615 USD at December 18, 2017.

[Wind_FURY]

When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

If you believe that Bitcoin is only good for trading to make more fiat for your bank account, then maybe it will be the biggest bubble the whole world will ever see.

But if you believe in Bitcoin as hard money, an asset for true sovereign ownership, a means for censorship resistance, and a good store of value, only then will you see that Bitcoin is no bubble.

[audaciousbeing]

When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

If you believe that Bitcoin is only good for trading to make more fiat for your bank account, then maybe it will be the biggest bubble the whole world will ever see.

But if you believe in Bitcoin as hard money, an asset for true sovereign ownership, a means for censorship resistance, and a good store of value, only then will you see that Bitcoin is no bubble.

I was only making a sarcastic comment. Imagining how bitcoin as a currency and an assets that goes beyond the trading aspect of it, could increase from $6,000+ to $250,000 within four years is going to be a long run without taking into consideration the challenges that comes along with such huge increase, is nothing but a mere wishful thinking. There is need to be practical here percentage growth is possible but at some point, it cannot no longer be growing at an incremental rate as nothing grows forever. During the all time high of 2016, its was something that everyone was joyous about but at the same time skeptical about how its going to be sustained which the market failed to keep up with eventually because there are factors outside the control of enthusiasts that influence the crypto market and today, people who bought at the time who are hopeful that things will turn out well, are still waiting.