Bitcoin 250K in 2022?

[SneakyLady]

"Venture capital investor Tim Draper reaffirmed his prediction that the Bitcoin (BTC) price will reach $250,000 by 2022, during a panel discussion at the Web Summit summit conference Nov. 6."

https://cointelegraph.com/news/tim-draper-stands-by-his-bitcoin-price-prediction-of-250k-in-2022

“Yes. We are talking [...] about five percent market share to get to $250,000. That seems like a drop in a bucket and all we need to really do is make it so that Bitcoin can be used to buy Starbucks coffee, and all of a sudden the world just opens up and then they say ‘I’ve got this choice.’ [...] Do I want a currency that I can take from country to country [...] or do I want one that sticks me in one country or one geographic area and I can’t use it anywhere else?”

I think things like global virtual marketplaces and escrow systems coming out soon will drive universal crypto acceptance forward and make cryptocurrency a useful part of everyday life.

Arguments for or against his accuracy?

[MainIbem]

Beautiful imagination.

[shamc]

I don't disagree with this prediction, once mass adoption and institutional investors jumps on board, the price can escalate very quickly. A lot can happen in 4 years.

[pakhitheboss]

"Venture capital investor Tim Draper reaffirmed his prediction that the Bitcoin (BTC) price will reach $250,000 by 2022, during a panel discussion at the Web Summit summit conference Nov. 6."

https://cointelegraph.com/news/tim-draper-stands-by-his-bitcoin-price-prediction-of-250k-in-2022

“Yes. We are talking [...] about five percent market share to get to $250,000. That seems like a drop in a bucket and all we need to really do is make it so that Bitcoin can be used to buy Starbucks coffee, and all of a sudden the world just opens up and then they say ‘I’ve got this choice.’ [...] Do I want a currency that I can take from country to country [...] or do I want one that sticks me in one country or one geographic area and I can’t use it anywhere else?”

I think things like global virtual marketplaces and escrow systems coming out soon will drive universal crypto acceptance forward and make cryptocurrency a useful part of everyday life.

Arguments for or against his accuracy?

I have been hearing a lot of prediction about Bitcoin price going to the moon. I have not seen any of these prediction have been correct. I am happy to hear more to keep myself motivated, but deep inside I know they are only speculation and  it would never happen.

I want the price to go to the moon, but I know it will take time. Untill then I am happy to hear more prediction like these. 

[asdlolciterquit]

well, i remenber when years ago someone talks about bitcoin's price at 10000 and it seems impossible to me...and i was wrong.

Anyway, i think that there will be an upper bound, and i think is 50k...

[HeRetiK]

Predictions like these are mostly wishful thinking rather than based on facts. It even says in the article that he's been off before:

Draper initially predicted that the BTC price will surge up to $250,000 in April of this year. “Believe it, it’s going to happen – they’re going to think you’re crazy but believe it, it’s happening, it’s going to be awesome!,” Draper said then.

On the other hand McAfee is all-in on Bitcoin reaching USD 500k,- by 2020 so Draper's estimate is conservative by comparison. Then again McAfee is batshit insane so there's that.

So no, I personally doubt that Bitcoin will hit USD 250k,- by 2022. However weirder things have happened in this space so my guess is as good as anyone's. And as far as the future price is concerned, guessing is all one can do.

[Coyster]

Don't forget that so many also predicted that the bitcoin's price would be around 250usd as of this time, but you and I know it it's not..

That simply tells us that you cannot predict the market,no matter how hard you try with all the emotions and optimism,it really counts for nothing

The fact still remains that no one knows what bitcoins price will be by 2022,not you,not I and definitely not draper

[kissme09]

"Venture capital investor Tim Draper reaffirmed his prediction that the Bitcoin (BTC) price will reach $250,000 by 2022, during a panel discussion at the Web Summit summit conference Nov. 6."

Identification is just an individual's guess, and this can affect many people who can not help Bitcoin reach the value of $ 250k by 2022. Give the reason that people believe that there is. It can happen and do not declare these silly things.

[hugeblack]

"Venture capital investor Tim Draper reaffirmed his prediction that the Bitcoin (BTC) price will reach $250,000 by 2022, during a panel discussion at the Web Summit summit conference Nov. 6."

Arguments for or against his accuracy?

The market does not follow the logic so if it is logical, the price will not move according to what he said.
We are talking about 4 years of forecasting in a highly turbulent market and can change dramatically every year. This kind of prediction makes it just a marketing word more than a predictable prediction.

[Marcel666]

We could speculate the future price of Bitcoin using technical analysis based in charts, price history and other tools. But this is limited to a certain range.
Any attempt to predict the value four years from now is mere wishful thinking and what they 'hope' the market would be.
I can't argue with that, I hope it's at that value too.

[waniowski]

Predictions like these are mostly wishful thinking rather than based on facts. It even says in the article that he's been off before:

Draper initially predicted that the BTC price will surge up to $250,000 in April of this year. “Believe it, it’s going to happen – they’re going to think you’re crazy but believe it, it’s happening, it’s going to be awesome!,” Draper said then.

On the other hand McAfee is all-in on Bitcoin reaching USD 500k,- by 2020 so Draper's estimate is conservative by comparison. Then again McAfee is batshit insane so there's that.

So no, I personally doubt that Bitcoin will hit USD 250k,- by 2022. However weirder things have happened in this space so my guess is as good as anyone's. And as far as the future price is concerned, guessing is all one can do.

Found the info that J. McAfee went even futher, on november 2017 he predicted BTC at 1 mln USD by 2020. He still have two years to make it come true, but current market trend doesn't help him.

[maxilopez]

I am more inclined to think that Bitcoin will really cost so much because a lot will happen in these four years and generally it seems to me that during this time it will start to look more positively towards cryptocurrency

[jcpone]

This might be one of the issues bitcoin has to face in going mainstream adoption. Bigtime bitcoin holders want bitcoin price to be go higher and higher just like feeling of no satisfaction. The other side of the issue, bitcoin needs stability as one requirement to adoption. The problem will arise when these holders suddenly push the button to manipulate the price whenever they need to. There's no stopping them because there's no tracing them. If I'm a bitcoin holder, of course, I like the idea of $250k.

[hadveach]

there are no negative comments with their predictions, we can only act to buy more bitcoin, the price of bitcoin in 2015 is $ 700 and 2017 is $ 20000.

this cycle will be the same as today's bitcoin prices and bitcoin prices in 2022. now $ 6500 and 2022 are $ 250000. very fantastic price.

so, don't sell it today, but buy more and invest in your future.

[sunsilk]

I'm not against to his prediction and its possible. Halving will come by 2020 so I think he's thinking that it will make the price high just like what it did on 2016. And after two years, there will be a good flow of institutional money on bitcoin.

But I'm still questioning on how its going to happen though I said that I'm not against it, I'm wondering on how would the bull will pump it.

Found the info that J. McAfee went even futher, on november 2017 he predicted BTC at 1 mln USD by 2020. He still have two years to make it come true, but current market trend doesn't help him.

$1,000,000 on 2020? this is what I'm doubting right now.

[cynical]

So hes basing this prediction on market share, which is fine but its hard to know what route bitcoin will take and how much adoption is going to happen in the next 3 or 4 years. Its great to hear some positivity.

[Mr.grin]

So hes basing this prediction on market share, which is fine but its hard to know what route bitcoin will take and how much adoption is going to happen in the next 3 or 4 years. Its great to hear some positivity.

so far, bitcoin has not shown the potential to be able to have prices above $ 50000, so don't expect high prices. well, maybe for $ 20k it's good enough for the price of bitcoin, moreover if the price is stable, it will definitely shake the world.

[legok]

I hope bitcoin will be good any time any where any when.... In what ever condition, i will always suport bitcoin to grow and grow up for crypto money...

[DavidNiva]

We could speculate the future price of Bitcoin using technical analysis based in charts, price history and other tools. But this is limited to a certain range.
Any attempt to predict the value four years from now is mere wishful thinking and what they 'hope' the market would be.
I can't argue with that, I hope it's at that value too.

it is true that long-term circulation is indeed very risky, because we believe that the calculated value of bitcoin is usually very easy to change, so to be more confident in short-term speculation because the risk is not too big when we start to increase gradually, if in the future its value according to our predictions we also continue to enjoy the benefits, but if the value drops then we will not experience many losses.

[smartbitcoininvestor]

Well, if more marketplaces and platforms are made using Bitcoin it would speed up the rising price of Bitcoin. For example, if Amazon accepted Bitcoin, overnight the price would probably double.