072: Tim Draper Says His $250K Bitcoin Prediction Is Not Based on Halving | $13K BTC In Early 2020

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Legendary venture capitalist Tim Draper is still confident that the Bitcoin price is going to reach $250,000 in 2022. In his recent interview, he explained that his uber-bullish Bitcoin price prediction is not based on the halvening. Back in September 2014, Draper predicted that Bitcoin (BTC) would be able to hit $10,000 in only three years. That prediction turned out to be conservative - the BTC price skyrocketed to $20,000 in December 2017. Now, Draper claims that he's more confident about his $250,000 prediction than his previous one.

"I am more confident of $250,000 by 2022 or the first quarter of 2023 than I am of the prediction of $8,500 on December 31. My prediction was really based on creating enough of an infrastructure for Bitcoin to get a 5% market share around the world, as a currency. The currency business today is $86 trln. If you add crypto in 10 years from now, I think it's going to be $120 trillion. That's a huge, huge market..."

In other Cryptocurrency news today, Bitcoin will top $13,000 in early 2020 according to Crypto analyst, Philip Swift, predicts that the upcoming halving next year will catalyse a change in market sentiment and propel the Bitcoin price back to five figures. “Combining all that with Golden Ratio Multiplier to look forward, likely we will have a big move up in Jan/Feb taking price up to the region of the 350 x 1.6 (green line), which will be approx $12-13k by then.”