Bitcoin

Tim Draper Believes In Bitcoin’s $250,000 Price Again Next Year

Tim Draper Believes In Bitcoin's $250,000 Price Again Next Year

Tim Draper, a well-known venture investor and cryptocurrency lover, projected that Bitcoin (BTC), the largest cryptocurrency, will be able to reach $250,000 by January during a recent presentation at Web Summit, an annual technology conference held in Portugal.

Tim Draper

Draper thinks that women can raise the price of the cryptocurrency king to that level.

The venture entrepreneur, who was an early supporter of businesses like Hotmail and Skype, projected that female Bitcoiners would be able to increase the user base of the most popular cryptocurrency considerably. New York Life Investment Management’s analysis shows that 51% of the country’s wealth is held by women.

Draper has been forecasting that Bitcoin will reach $250,000 by 2023 for many years. However, it is quite doubtful that the top cryptocurrency would be able to achieve a price above the level even within the next six months, given the present economic situation and the Fed’s inflation control tactics.

Following yesterday’s US October jobs report, BTC is trading barely above the $21,000 mark.

BTC daily chart. Source: Coincu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.