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.
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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.
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Why Chinese New Year Affects Bitcoin (BTC)
Bitcoin (BTC) lost about $100 in value in the last week, and, while reasons behind the drop in crypto prices can often be hidden and unclear — this time, that is not the case. The reason for this drop is believed to be the celebration of the Chinese New Year.
The New Year celebration was over more than a month ago for most of the modern world. However, things are a bit different in China. This is a country which is considered to be one of the oldest ones in the world, with a long and complex history. The country’s traditions are fascinating to many around the world, as so many of them are different from western culture. One of these traditions is the Chinese New Year.
The New Year celebrations in China start on January 28th, which was a week ago. The New Year itself is today, February 5th, although the celebrations and festivities are going to last until February 19th. For the people of China, and all those around the world who follow the country’s tradition, this is the time to relax, take a break, and perhaps travel and visit friends and family. But, what does it have to do with Bitcoin?
China and Bitcoin
Those who are new to the world of cryptocurrencies have likely already heard many stories about China banning Bitcoin trading and…
EO.Finance Launches Highest Paying Crypto Referral Program of 2019
The EO Referral Program, already touted to be a significant addition to the ecosystem has been launched, and more details can finally be revealed. Offering 30% of transaction fees for each referral, it is expected to be the highest paying crypto referral program of 2019.
Each user will receive their own unique invite link, which can be shared with friends or via social media, in order to start earning 30% of the companies fees for every transaction made by someone who registered using their unique link. Furthermore, receive 5% of the fees for each new referral introduced by your own referral, increasing earning potential and adding even more benefits to an already feature-packed ecosystem. The fact the ecosystem supports credit and debit card transactions, as well as more than 40 cryptocurrencies means it will be even easier for you to start earning from your referrals.
The EO Referral Program will also extend to EO.Trade following launch, meaning it will be possible to earn from a single referrals transactions across multiple products within the EO ecosystem. It is important to note that the figure of 30% is significantly more than most competitors offer.
Payment will be made in the same currency as was purchased or exchanged. Withdrawal of the profits earned via the program can be made instantly, meaning you can earn immediately from your referral.…
Is Bitcoin (BTC) Ready for Another Surge?
It is no secret that Bitcoin (BTC) has had a rough 2018. The coin has dropped by over 80% from its all-time high in a matter of months, it experienced two market crashes, a constantly bearish market, and even troubles within its own ecosystem. Crypto investors spent the entire year hoping for a surge that never arrived, and since BTC is the most influential coin within the crypto space, its behavior usually dictates the pace for other coins as well.
Then, the year finally ended, and investors believed they could finally start anew, hoping to see BTC perform better in 2019. While Bitcoin is certainly performing better than in 2018, the current state of things is still far away from a rally. However, there is a possibility that this might change in the future.
Projects that could have sparked the next rally
As mentioned, crypto investors around the world were hoping to see a new price surge with the arrival of the new year. So far, this has not happened, and while there were several events believed to be able to boost BTC value, several complications prevent them from occurring.
One of them is the launch of the Bakkt Bitcoin Futures Exchange, which was scheduled to happen on January 24th. However, due to the long-lasting US government shutdown, the exchange failed…
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