cryptodailytrading.com

Tim Draper Predicts Crypto Market Cap Rise – 1000x Today’s Value

  • Yuri Molchan
    📰 News

     

    A prominent crypto bull is of the opinion that aggressive progress is unavoidable, promising a bigger effect from DLT and Bitcoin than from the Internet. Tim Draper predicts crypto to replace fiat, since the latter is totally unstable


Tim Draper Predicts Crypto Market Cap Rise – 1000x Today’s Value
You may also like:
Contents

In a recent interview, Tim Draper says that if in five years’ time anyone tries to pay with fiat in Starbucks or McDonald’s, people will laugh at them.

The legendary venture investor from Silicon Valley remains bullish about Bitcoin and blockchain.

Blockchain will prosper more than the Internet

In the interview, Tim Draper shared that he expects the effect from blockchain and Bitcoin to be much bigger than the consequences of mass implementation of the Internet.


Draper calls BTC and blockchain ‘fundamentals’, claiming that they will lay an impact on insurance, real estate, government and healthcare. The new emerging technology will transform all these areas completely, believes the investment guru.

While sticking to the topic of blockchain and the Internet, Tim Draper says that even though the Internet completely changed a lot of crucial areas, governments keep working the way they did before the 1990s, and insurance or the way people buy real estate remain untouched by progress. But blockchain is bound to transform those into completely new forms.

👉MUST READ Bitcoin Ponzi Scheme Lands on FINRA’s ‘Bad Guy’ List
Bitcoin Ponzi Scheme Lands on FINRA’s ‘Bad Guy’ List

Crypto is better than fiat

During the interview, Draper explained why he reckons that crypto is superior to traditional currencies. He stated that fiat currencies are dependent on political whims and are tied to bureaucratic machines. Meanwhile all the best and cleverest programmers are busy developing crypto coins.

Draper believes that the world is eager to have a stable global currency that would not depend on any political force or actions of the government in the international arena.

👉MUST READ Justin Sun Followed by Bots: Analysis Reveals Half of His New Followers Are Bots - Another Fake About Tron?
Justin Sun Followed by Bots: Analysis Reveals Half of His New Followers Are Bots - Another Fake About Tron?

Draper forecasts future crypto market capitalization

The famous investor has expressed the opinion that in a while digital decentralized money will replace fiat currencies. His rough prediction for the capitalization of the cryptocurrency market is “a thousand times on what we’ve got now”.

Cover image via u.today
The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.
👓 Recommended articles

Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
You may also like:
Contents

It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

👉MUST READ Bitcoin’s Price Rally Was Accurately Predicted by Anonymous 4chan Poster. $16,000 in October?
Bitcoin’s Price Rally Was Accurately Predicted by Anonymous 4chan Poster. $16,000 in October?

Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

👉MUST READ This Is the Happiest Bitcoin Investors Have Been Since 2016: Tom Lee
This Is the Happiest Bitcoin Investors Have Been Since 2016: Tom Lee

Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

Cover image via 123rf.com
Subscribe to U.Today on Twitter,and get involved in all top daily crypto news, stories and price predictions!
👓 Recommended articles