Bitcoin Is Trading Above $6,700 – Tim Draper Has His Eyes On New Market
The crypto market is experiencing enormous volatility these days and while some crypto enthusiasts have been waiting to buy the dip, analysts are becoming more and more optimistic that Bitcoin’s price will get back on track, and it will surge following the halving.
Bitcoin halving is scheduled for this May, and more experts expect a massive surge in price around the event.
Some analysts have explained that price drops are normal before the event, based on how things went before in relati9n to the other two halvings that Bitcoin saw.
Tim Draper lays his eyes on new markets
The Legendary venture capitalist and Bitcoin bull Tim Draper, who was an early investor in Twitter, Tesla, and Skype, among many other innovative tech companies now has his eye on crypto firms from India.
The Supreme Court of India has ruled not too long ago to lift the banking ban against crypto exchanges and companies offering crypto-related services.
Draper says that this ruling came just in time:
“The Supreme Court of India and the Indian government have shown that the best ideas ultimately prevail, and just in time, because the benefits of Bitcoin and crypto over current systems will become apparent during this crisis,” he explained.
Draper to fund BTC venture capitalists in India
Draper says he hopes to fund Bitcoin venture capitalists in India due to the recent ruling.
“I met several Bitcoin and crypto startups while I was in India last week. I hope to be able to fund a number of them.”
By now, Bitcoin and the whole crypto market did not show any immunity to the coronavirus pandemic, and it seems that this global crisis managed to affect the crypto industry as well.
Anyway, at the moment of writing this article, Bitcoin is trading in the green, and lots of other digital assets are also doing better today.
Bitcoin is now priced at $6,716.82.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.