Bitcoin Orice Prediction: BTC Targets $250,000 in Less Than A Year
More optimistic BTC-related predictions are popping up in the crypto space, despite the massive volatility of the market.
BTC to reach $250,000 soon
Tim Draper said that the price of BTC could hit $250k in less than a year.
During a new interview with BlockTV Draper said that the long term price target could happen as early as November 2020, which will be six months after BTC halving.
“If you run a technical analysis, it looks like it’ll be something like six months to a year after the halving that we will cross $250,000 per Bitcoin…” he said.
Draper continued and explained that “I can’t wait, because I’m so frustrated with the banks just taking 2.5% to 4% every time I swipe my credit card. I’m ready for this new currency that’s frictionless and open and transparent.”
He said that his worst-case scenario has BTC hitting $250K in early 2023.
Draper explained that he’s tracking Bitcoin adoption, which is really difficult to measure on a day to day basis.
BTC addresses surpassed the all-time high of 28 million
It’s been revealed that recent numbers from Coin Metrics show that the total number of BTC addresses that hold any amount of BTC has surpasses the all-time high of 28 million, which the leading crypto reached during the massive bull run in late 2017.
"It looks like it will be something like six months to a year after the halvening that we will cross $250,000 per bitcoin…it is pretty likely we are going to hit $250,000 by the end of 2022 or early 2023." – @TimDraper.
— BLOCKTV (@BLOCKTVnews) December 19, 2019
“It’s 2020 and that, at least, used to be a measure of perfect eyesight. I’m hoping people start seeing more clearly how important Bitcoin, the blockchain, smart contracts, and artificial intelligence are going to be for the world, and hopefully, they will no longer be blinded by their fears,” Draper stated.
The total number of bitcoin addresses that hold any amount of BTC has hit an all-time high at 28.39M addresses, surpassing the previous ATH of 28.38M (achieved on 1/10/18). (Data via @coinmetrics Pro)
Short thread 👇🏼 pic.twitter.com/y87ovxstWb
— Alex Thorn (@intangiblecoins) December 6, 2019
He concluded by saying that we’re living in one of the most exciting times in the history of the world when technology brings together the world in a better way.
At the moment of writing this article, BTC is trading in the green and it’s priced at $7,215.49.
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.