Connect with us

Bitcoin

Here Is Why Tim Draper Believes Bitcoin (BTC) Will Hit $250,000 by 2022

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

The King of Crypto, Bitcoin (BTC), continues to make headlines across the globe with its impressive run in the markets. BTC seems to be firmly rooted in its new value above $8,000. The total crypto market capitalization has also increased to $301 Billion at the moment of writing this, with BTC dominance having increased to 47%. It is with such market action that many crypto-enthusiasts and prominent BTC crusaders are bullish about the coin moving forward.

One such individual is Tim Draper who believes Bitcoin will hit $250,000 by 2022. He made this comments during a recent interview with The Street. When asked about the future of Bitcoin and other cryptocurrencies, Tim Draper stated that:

“I’m not really interested in holding fiat, because it loses value over time. I have no interest in selling my Bitcoin. What would I sell it into anyway? Moving from crypto to fiat is like trading shells for gold. It is reverting to the past. I’m thinking long term I’ll use it, spend it, invest it, or just keep it.

Price-wise, we’ll continue to see Bitcoin move higher. I’ve revised my estimate up to $250,000 four years out, so we’ll see Bitcoin trade around the $250,000 mark in 2022.”

The reason for his bold price prediction is that the popularity of Bitcoin and other cryptocurrencies will continue to grow in the next 4 years. He also expects alt-coins to grow and surprise us along the way. This will be made possible through by crypto-adoption as more people start paying for goods and services using cryptocurrencies.

Draper was quick to praise Japan for recognizing Bitcoin as a legal currency. Such an act should be used by the American SEC to also make a strong statement as described by Draper below:

“The United States is open for business! We intend to compete to retain the world’s best innovators.”

Draper also predicted the possibility of the American Federal Reserve becoming obsolete in the foreseeable future due to cryptocurrencies and decentralization. He actually suggested that they start looking for new jobs.

In conclusion, the future of Bitcoin and alt-coins is looking bright as we tread down this year and the next 4 years as mentioned by Tim Draper. His bold prediction of $250,000 might seem a bit insane right now, but anything is possible in the crypto-markets.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

Published

on

Bitcoin ETF
READ LATER - DOWNLOAD THIS POST AS PDF

The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

Continue Reading

Bitcoin

What to Expect in 2019: BTC, BAT, and Steem

Published

on

BTC
READ LATER - DOWNLOAD THIS POST AS PDF

There are only a few weeks of 2018 left, and considering how bearish and crypto-unfriendly this year was, a lot of investors will likely be pleased to see it gone. Many believe that 2019 will be the year that will correct BTC prices and bring forth the period of great recovery.

But what does that mean for digital currencies? Which ones are a good investment right now? This is something that we will, hopefully, be able to answer right now. Here are the top 3 coins that everyone should keep an eye on in 2019.

1. Bitcoin (BTC)

Of course, we have to start with Bitcoin, the first and largest cryptocurrency. Bitcoin has lost a lot in 2018, and its losses are unparalleled by any other coin. In fact, in terms of market cap, Bitcoin has lost as much as the rest of the crypto market put together.

Many believe that its rapid growth, which started in late 2017 and has brought it to its all-time high, is responsible. That the bearish 2018 was only a one large price correction of the last year’s price surge. Even if this is true, price corrections, luckily, all end sooner or later, and when this one comes to a close, Bitcoin will likely be ready for a big comeback.

2019 is expected to bring a lot that will serve BTC’s…

Continue Reading

Altcoins

The Three Biggest Problems with Crypto

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?

However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.

Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.

We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:

Scammers

Failed projects

Immature technology

Continue Reading

Elite