Billionaire Bitcoin bull Tim Draper believes Bitcoin will reach $250,000 by the first quarter of 2023, even though the crypto market is now facing volatility due to massive events like the FTX crisis.
“It’s definitely not going to change, it’s still $250,000 by early next year,” Draper told Business Insider. Cointelegraph on November 15, 2022
Draper sees that the crypto market usually does not experience such turmoil as it is a “continued market.” Decentralized, but unfortunately FTX isn’t.
“FTX is a centralized exchange that relies on just one founder,” he said of former FTX CEO Sam Bankman-Fried. “When currencies become centralized, central banks, for example, are easily manipulated and attacked.”
In Draper’s view, he thinks that while the FTX crisis was a detrimental effect on the crypto market, it was also a driving force for market volatility. more decentralized
Not sure if Draper’s prediction came true. He previously predicted that the price of Bitcoin would hit $250,000 before the end of 2022, but now the price of Bitcoin is still only $16,772.54.
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