Legendary venture capitalist Tim Draper has already reacted to the most recent Bitcoin correction, mocking those who are selling their coins.
"I hear some whales are selling. They must want to be minnows," Draper said.
Earlier this Thursday, the leading cryptocurrency by market cap plunged to just $101,411, reaching its lowest level in roughly four months.
The leading cryptocurrency is now down 19.7% from the all-time high of $126,080 that was logged on Oct. 6. The cryptocurrency is now entering technical correction territory.
Draper's failed $250,000 prediction
As reported by U.Today, Draper has predicted that Bitcoin might finally reach its oft-repeated $250,000 price target this year.
However, the uber-bullish target now appears to be out of reach.
According to Polymarket bettors, Bitcoin has just a 1% chance of hitting $250,000 this year.
It is safe to say that Draper will have to move the target one more time now that 2025 has turned out to be extremely underwhelming for the flagship cryptocurrency.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team