The predicitons about the price of Bitcoin are getting more and more optimistic. Check out the latest details about the price of the most important digital asset out there.
Bitcoin price analysis
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $24,723.
According to the latest reports, it seems that the billionaire venture capitalist Tim Draper believes Bitcoin is hurtling toward a staggering $250,000 Bitcoin (BTC) price tag.
“In a new exchange with the Observer, Draper says Bitcoin is at the start of a parabolic rally that will see the top crypto asset generate gains of more than 900% in less than two years.”
It’s also worth noting the fact that back in December 2022, Draper predicted that Bitcoin would hit his target in six months following the high-profile implosion of crypto exchange FTX, saying that investors will likely seek refuge in high quality and decentralized digital assets like Bitcoin.
Even if Bitcoin fails to go on a meteoric ascent by June this year, Draper says that the timeline could be extended to the end of next year, according to the same online publication.
“I am almost 100 percent sure I will be right in 18 months.”
Bitcoin price exploded
The price of Bitcoin (BTC) is soaring as the Biden Administration races to prevent the collapse of Silicon Valley Bank from triggering a mass exodus at regional banks across the U.S.
“The U.S. Treasury Department is conducting a series of emergency meetings to determine whether it should ensure all depositors at SVB will be made whole after the bank’s sudden collapse,” reports the Washington Post.
The outlet cites people with knowledge of the matter who are speaking on internal deliberations at the Treasury Department, Federal Reserve, and FDIC.
Stay tuned for more news, and make sure to check out the latest details about the most important digital assets out there.
