Bitcoin (BTC), which is deemed to be the King of Crypto, keeps being a popular issue with its movements in the markets. Apparently, BTC is strict with its new value over $8,000. At press time, BTC was dominating, with an increase to 47%, the increase in total crypto market capitalization to $301 billion. This market movement resulted in many crypto-enthusiasts and ambitious BTC fighters to get bullish with regard to the upward movement.
Bitcoin Cash (BCH)
Bitcoin Gold (BTG)
One of them, Tim Draper believes that Bitcoin will reach $250,000 by 2022. He told these to The Street for an interview. Upon the questions about Bitcoin’s as well as other cryptocurrencies’ future, Tim Draper said that:
“I’m not really interested in holding fiat, because it loses value over time. 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.
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.”
His remarkable price prediction resulted from the popularity of Bitcoin and other cryptocurrencies that will keep growing within the next 4 years. Besides, he forecasts that also altcoins will surprisingly grow. When more people start to pay for goods and services with cryptocurrencies, this crypto-adoption will result in this situation.
Draper appreciated Japan as they recognize Bitcoin as one of the legal currencies. As indicated below, Draper said that the American SEC should use such an attitude to make a bold statement:
“The United States is open for business! We intend to compete to retain the world’s best innovators.”
Besides, Draper drawn attention that cryptocurrencies and decentralization may result in a dysfunctional American Federal Reserve. As a matter of fact, he advocated that they need to start looking for new jobs for their own good.
Consequently, as emphasized by Tim Draper, this year and the next 4 years will be brigther for Bitcoin and altcoins. Although $250,000 is a bit extraordinary as a forecast, cryptomarkets are prone to anything and everything.