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Bitcoin Price Will Explode Past $250K by 2022, Says Tim Draper

Coinspeaker Bitcoin Price Will Explode Past $250K by 2022, Says Tim DraperFor several years now, the Bitcoin price has been a subject of discussion in the global scene. As we published, some prominent commentators have suggested that Bitcoin will reach $1 million per token by the end of 2020. That may never happen unless there is a major collapse in the entire fiat world within the next three months.However, some of the analysts are sticking to their predictions, Tim Draper, one prominent venture capitalist, recently doubled down on his call that Bitcoin will reach $250,000 by 2022. That is more than 20 times higher than its current price. Draper believes that his prediction could be understating the power of Bitcoin.The billionaire investor has constantly maintained his Bitcoin price prediction terming it as ‘absolutely solid’ beck in 2018. The stock-to-flow (S2F) model puts Bitcoin’s price post-halving at around $50,000. According to the current number of the BTC in circulation, that will place the Bitcoin market capitalization at just below $1 trillion.Therefore, Draper’s prediction puts the token firmly in the league of assets like gold that have market caps hovering in the trillions of dollars range. Another Bitcoin proponent, BTCC founder Bobby Lee, is confident that the BTC price will reach $200,000 ‘in a short time.’ Also, industry analysts and experts believe that the Bitcoin price is in front of a massive move.Bitcoin Price to Thrive on AdoptionIn a September 13 interview with crypto news network Blocktv, Draper once again expressed his bullish stance on BTC. He predicted the soon-to-come mass global adoption that is expected to push the Bitcoin price higher. In that interview he said:“$250,000 means that Bitcoin would then have about a 5% market share of the currency world and I think that maybe understating the power of Bitcoin.”People still go for fiat money over Bitcoin as explained by Draper. They do so since fiat money is still quite an easier option to pay for goods and services. The venture capitalist said that Bitcoin’s lack of ease of use is the primary challenge to the mass adoption of the crypto to date. He believes that:“Engineers have not made it that easy enough for everyone to use Bitcoin.”Nonetheless, people will have Bitcoin as the currency of choice in the longer term. The crypto will become available since fiat currencies are affected by political influence due to their centralized nature. Furthermore, these traditional currencies usually depreciate as a result of a natural inflation rate as explained by Draper.Furthermore, people even in countries like the US will generally want a currency that is decentralized and trusted. Not many want a currency controlled by entities like the Federal Reserve that could be very political.The BTC PriceBitcoin has remained in a negative zone below the 100-hourly simple moving average and the $10,400 resistance level. Currently, there is a bearish reaction below the fundamental $10,300 and $10,250 support levels. In the latest decline, there was a break below the previous breakout pattern with support pegged near $10,320 on the hourly chart.Efforts for recovery were capped by the $10,350 level and a key bearish trend has formed resistance around $10,340 on the hourly chart. BTC/USD is currently sliding by around 1.02%  trading below the 23.6% Fib retracement level of between the $10,000 swing low to $10,348 high.On the downside, the main supports have formed near the $10,175, $10,000 and $9,900 levels. On the upside, resistances have formed around the $10,300, $10,350 and $10,400 levels. The major resistance is still strong near the $10,500 level. For an upside acceleration to come in the near term, a break above the $10,400 and $10,500 levels is needed.For now, BTC price may revisit the $10,000 support since Bitcoin is trading in a bearish zone below the $10,300 and $10,400 levels.Bitcoin Price Will Explode Past $250K by 2022, Says Tim Draper

Tim Draper Says $250,000 Bitcoin Price Prediction is Conservative

Billionaire venture capitalist Tim Draper says his bitcoin price forecast of $250,000 by 2022 understates the power of BTC. Inflation and Government Distrust Will Boost Bitcoin Price Speaking to BlockTV, Draper described his famous $250,000 bitcoin price forecast as being conservative. According to Draper: $250,000 means that bitcoin would then have about a 5% market share of the currency world and I think that may be understating the power of bitcoin. Bitcoin to hit $250,000 by 2022? @TimDraper thinks that is a conservative prediction. "$250,000 means that bitcoin would then have about a 5% market share of the currency world and I think that may be understating the power of bitcoin." Full interview: — BLOCKTV (@BLOCKTVnews) September 13, 2019 The billionaire investor has consistently maintained his popular bitcoin price prediction calling it “absolutely solid” back in 2018. The stock-to-flow (S2F) model puts bitcoin’s price post-halving at $50,000. Based on the current number of BTC in circulation, the bitcoin market capitalization at just under $1 trillion. Thus, Draper’s forecast places bitcoin firmly in the league of assets like gold with market caps in the trillions of dollars range. As previously reported by Bitcoinist, BTCC founder Bobby Lee believes the bitcoin price could reach $200,000 “in a very short time.” According to Lee, bitcoin hitting $20,000 again will be the trigger for an even greater parabolic advance that would see the BTC all-time high (ATH) price entering a new order of magnitude. For Draper, bitcoin provides a viable alternative to fiat currency as currency and government distrust will drive more people into cryptocurrency. During the interview, founder of Draper Fisher Jurvetson (DFJ) Venture Capital highlighted the situation in Argentina as an example of how people will make the pivot from fiat to BTC. Back in March 2019, Draper made a wager with Argentina’s President over the price of bitcoin. Bitcoin Needs to be Easy to Use During the interview, Draper declared that there was still work needed to be done to make bitcoin easier to use. The DFJ chief who is himself a bitcoin owner says ease of use will draw more people into adopting cryptocurrencies. Back in February 2019, Draper predicted that people will be using bitcoin to pay for coffee by 2021. He was even part of $1.25 million investment round for OpenNode — a bitcoin payment processor startup, in late 2018. Fellow billionaire and bitcoin Jack Dorsey earlier in September noted that why bitcoin appears primed to become the native currency of the internet, it is still some way off from achieving such heights. What do you think the bitcoin price will be by the end of 2023? Let us know in the comments below. Images via Shutterstock, Twitter @BLOCKTVnews. The post Tim Draper Says $250,000 Bitcoin Price Prediction is Conservative appeared first on

Bitcoin Price Could Reach $200k ‘In a Very Short Time,’ Says Bobby Lee

According to BTCC co-founder Bobby Lee, bitcoin price could reach $200,000 in a very short space of time from now. Bitcoin Will Exceed $20,000 Speaking to Yahoo Finance UK, the founder of China’s first bitcoin exchange platform declared that the bitcoin price could continue to reach greater heights. According to Lee: We are in one of many, many cycles to come. Any cycle will take us to higher and higher heights. I’m quite confident sitting on my bitcoin investment that in a very short amount of time we’ll exceed $20,000 and go to $50,000, $100,000, even $200,000. Lee, however, provided some context to the timeline for the actualization of this forecast, putting it anywhere from a few months to a few years. Lee’s talk of cyclical periods in the bitcoin price action is one held by a growing consensus of commentators on the matter. Veteran trader Peter Brandt has previously hinted that bitcoin had entered another period of parabolic price growth. The top-ranked cryptocurrency has increased by more than 2.7 times since the start of the year, almost eclipsing $14,000. The bitcoin price has, however, hit a few snags in Q3 2019, but is currently maintain above the $10,000 price level. Apart from the positive price performance, the Bitcoin network is also experiencing significant growth in fundamentals like hash rate. Bitcoin’s total computing power appears set to even reach the 100 quintillion hashes per second milestone. Lee Back in the Crypto Scene On his return to the crypto scene, Lee said he wanted to offer a suitable solution to the cryptocurrency storage problem. As reported by Bitcoinist, Lee’s new crypto business Ballet is building an ‘un-hackable’ bitcoin wallet. So far, the startup has raised about $5 million in seed funding from investors including early Coinbase backer Ribbit Capital. Back in 2017, Chinese authorities placed a blanket ban on cryptocurrency trading and initial coin offerings (ICOs). This move forced exchanges to relocate outside of mainland China. Lee chose to sell the BTCC exchange for an undisclosed fee believed to be in the hundreds of millions of dollars range. Since the sale, the former BTCC chief says he took time off from cryptocurrency to travel around the world and spend time with his family. What is your earliest time-frame estimate for bitcoin reaching $200,000?. Let us know in the comments below. Images via Shutterstock The post Bitcoin Price Could Reach $200k ‘In a Very Short Time,’ Says Bobby Lee appeared first on

Bobby Lee Believes Bitcoin Will Hit $200K In Cycles To Come

Bobby Lee, the founder of China’s first cryptocurrency exchange, assures the community that BTC will hit $200K. In his words, bitcoin will see more “boom and bust” days, and in one of those, the crypto asset will make its way to the $200K mark. Bitcoin Will Hit $200K Someday What has kept the faith among crypto holders this long is the fact that bitcoin will be worth a fortune someday. A couple of analysts in the past have given their views on the direction of bitcoin, some giving short-term and others predicting long-term. Bobby Lee joins these growing list of enthusiastic analysts as he speaks in an interview with Yahoo! Finance recently. In his opinion, there was no reason for people to feel “doom and gloom” as he says there will be many of such to come. In his words, Lee says; “We are in one of many, many cycles to come. Any cycle will take us to higher and higher heights. I’m quite confident sitting on my bitcoin investment that in a very short amount of time we’ll exceed $20,000 and go to $50,000, $100,000, even $200,000.” He further added, “When I say a short time, I don’t mean minutes or hours, I mean maybe months, if not a few years.” Bobby Lee is Certain That Bitcoin’s Price Cannot Crash Sometime in 2017, while speaking to a group of audience, Bobby Lee exposed China’s secret plan to tank bitcoin’s price. This was the era when China banned ICOs and later, cryptocurrency exchanges in the country. Though China’s quest affected his crypto exchange, BTCC, Lee was confident that bitcoin’s price could not be brought down. Not even by Satoshi Nakamoto, he says. What Lee’s Been Up To Since Lee sold BTCC, he’s spent most of his time “giving speeches, traveling, taking some vacation, and spending time with family,” he says. However, he’s also found some interesting to do; making secure unhackable hardware wallets. This idea, he reveals, was born as people came to him to store their bitcoin investments for them. The best way he thought, would be to come up with something super easy to use and also which will keep their crypto assets secure. The post Bobby Lee Believes Bitcoin Will Hit $200K In Cycles To Come appeared first on ZyCrypto.

What is the Ballet Hardware Wallet?

In the cryptocurrency world, there are multiple ways to keep funds secure. The best way to do so is by using a hardware wallet. Although several offerings exist already, it seems Ballet can be added to this list moving forward. It is a new venture by Bobby Lee, the former CEO of BTCC, one of China’s biggest and longest-running Bitcoin exchanges until recently. Bobby Lee and Ballet It has been a while since Bobby lee last made any headlines. Up until a year ago, he was the CEO and co-founder of China’s BTCC trading platform. It was considered to be a top trading platform for Bitcoin in China, at least until the government decided to shut everything down in quick succession. Ever since, the cryptocurrency industry has not made any real impact in China, albeit trading is still ongoing through various means and methods.  Surprisingly, Lee has not given up on the Bitcoin industry by any means. Instead, he is now looking to enter the industry through a very different approach. The venture is known as Ballet, and will provide a hardware wallet solution with native support for multiple cryptocurrencies. Especially the latter aspect is very important, as most hardware wallets do not have multi-asset support from day one.  Technical Information The Ballet hardware wallet is very different from what one might expect. It is the size of a credit card and made of metal. The piece of metal can print a QR code associated with the cryptocurrency of one’s choice. Beneath the QR code, there is a layer of encryption, which is also present at the bottom of the card. The bottom part can be scratched off in a manner very similar to how scratch cards work.  Both encrypted pieces contain code which needs to be combined through the mobile Ballet application. In doing so, users can see the private key associated with their cryptocurrency balance. Interestingly enough, the private key is the same key to access all supported crypto assets on different blockchains. This makes the process of getting involved with Bitcoin or altcoins a lot more straightforward, both for advanced and novice users alike. Supported Currencies and Low Price Ballet can certainly gain a lot of traction in the weeks and months ahead. The native support for Bitcoin, Ethereum, Litecoin, XRP, and ERC20 tokens is quite significant in its own regard. Although more currencies and assets may be added in the near future, that has not been officially confirmed at this point. It also appears Ballet will support stablecoins, including USDT, USDC, and Dai. A very interesting selection, which could appeal to a lot of users. To this date, hardware wallets have a reputation of being fairly expensive. That is no longer the case in 2019, as Ballet is one of the cheapest products on the market today. With an expected price point of just $29, there is no reason for cryptocurrency users to not give this solution a try. One potential downside is how the company generates all wallet addresses and private keys prior to shipping units to customers. From a trust-based point of view, that is not an ideal situation. Image(s): The post What is the Ballet Hardware Wallet? appeared first on NullTX.
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Celsius Network Offers up To 12% APR on USDC, TUSD, USDT and Other Stablecoins

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VanEck, SolidX Pull Bitcoin ETF Filing From SEC Consideration

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