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Bitcoin Price Reaching $250,000 Is No Joke. Tim Draper Might Be Right Again

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  • Alex Dovbnya
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    Tim Draper's $250,000 Bitcoin price prediction might indeed turn out to be "conservative" if history repeats itself

Bitcoin Price Reaching $250,000 Is No Joke. Tim Draper Might Be Right Again
Cover image via www.cnbc.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The cryptocurrency community is in low spirits due to Bitcoin's recent drop to the $7,000 level. Still, Alistair Milne, the CIO of Altana Digital Currency Fund, says that he continue stacking stats despite selling pressure.

Milne recalls how everyone mocked legendary venture capitalist Tim Draper for buying nearly 30,000 BTC auctioned off by the U.S. Marshals Service back in 2014 at $600. A year later, the Bitcoin price went downhill, plunging to nearly $200 back in May 2015.  

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However, Draper ended up getting the last laugh when Bitcoin surged to a whopping $20,000 in December 2017. Back in 2014, he predicted that the coin could end up in the five-digit territory in three years, also mentioning that the forecast could even be pessimistic. He was eerily spot-on. 

In 2019, the 61-year-old investor predicted that the top coin might hit $250,000 in 2022, which seems like an unrealistic target. However, if history is any guide, the next Bitcoin halvening might prove Draper right once again. 

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After all, the cryptocurrency industry is still in its nascency, and Bitcoin currently represents only a modicum of gold's $7 bln market cap.                

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

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  • Alex Dovbnya
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    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

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Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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