Will the price of cryptocurrency gold go up to 250.000 $ in just three years?

Tim Draper, billionaire Venture Capitalist predicted that the price of the famous "cryptocurrency gold", Bitcoin (Bitcoin guide), will rise to $ 250.000 by 2022 and market capitalization will be over $ 1 trillion dollars.

Bitcoin price is going to "burst"

Many cryptocurrency experts believe that Bitcoin listing will reach $ 1 million by the end of 2020.

Of all the analysts, Tim Draper, a major venture capitalist, recently predicted that the price of Bitcoin will reach i $ 250.000 by 2022.

A figure that far exceeds its current price of 10.219 $, at the time of writing the article.

Draper believes his prediction could underestimate the power of Bitcoin.

Considering the current number of Bitcoins in circulation, this would bring the market capitalization of Bitcoins to just under $ 1 trillion.

Another advocate of Bitcoin, the founder of BTCC, Bobby Lee, is confident that the BTC price will reach the $ 200.000 "in a short space of time".

Furthermore, analysts and industry experts believe that the price of Bitcoin is ready for a truly epochal turning point.

Bitcoin quote: "bullish" trend forecasts

In a recent interview with Blocktv, Draper has again expressed his "bullish" position on the BTC trend.

"$ 250.000 means that Bitcoin would therefore have a market share of around 5% in the currency world. "

The global mass adoption of cryptocurrency gold should push the Bitcoin price upwards.

People continue to use the money fiat compared to Bitcoin, notes Draper himself. They do this because fiat currencies are a simple option to pay for goods and services and to complete transactions at physical stores and E-stores.

In fact, the lack of ease of use of Bitcoin is today's challenge to the mass adoption of cryptocurrency.

"The engineers did not make Bitcoin so easy to use. "

Legal currencies usually depreciate due to a natural inflation rate and the decision-making policy of banks and governments.

Bitcoin price: Technical analysis

Bitcoin remained in a negative zone below the simple moving average and the resistance level of $ 10.400.

Currently, there is a downside reaction below the fundamental support levels of $ 10.300 and $ 10.250.

Recovery efforts have been limited by the $ 10.350 level: the BTC / USD exchange rate is currently slipping by around1,02% trading below the level of Fib retracement of 23,6%.

For now, the price of Bitcoin could revisit the support of $ 10.000 as the cryptocurrency is traded in a bearish zone below the levels of $ 10,300 and $ 10,400.