For the past few weeks, everyone has been paying attention to the Tom Lee Bitcoin price prediction and the Tim Draper Bitcoin price prediction. You see both men are well-known figures in the financial system and they have a history of being bullish about Bitcoin and predicting the next crypto bull run. Even when others in the industry lost faith and started asking questions like is Bitcoin dead, will Bitcoin go back up, will Bitcoin recover, these two men never gave up on Bitcoin. Recently, Tim Draper made another amazing Bitcoin price prediction that placed the price of Bitcoin at $4 million.
Crypto News Today – Is Bitcoin Dead – Bitcoin Price Prediction 2019: Tim Draper Says Bitcoin Will Hit $4 Million
Toward the end of last year, many experts started calling for a Bitcoin bottom as reported in our crypto news outlet. This year, Bitcoin seems to have bottomed out marking the end of the bear market and the beginning of a new cycle that would be marked by a back to back Bitcoin bull run. So, the answer to the question; is Bitcoin dead, is no. Bitcoin is not dead. If Bitcoin is not dead, what does the future hold for the flagship cryptocurrency and the entire market? Well, the Bitcoin billionaire, Tim Draper believes the future is bright.
Tim Draper is one of the most confident Bitcoin traders in the world. During his latest YouTube interview, the billionaire said that the price of Bitcoin will hit $4 million. The interview was posted by TheBitcoinOfCryptoStreet. He reassured the public that he is certain that Bitcoin will become more valuable than fiat currencies. In his words;
“Here’s the way I look at it. There is about $100 trillion worth of fiat currency out there. Fiat currency is poor currency. It’s tied to political whims. It’s tied to political parties. Bureaucrats control it. It’s not really that good for you, and all of the new best, brightest engineers are working on cryptocurrencies. And so my belief is that over some period of time.”
While Tim Draper didn’t specifically say that Bitcoin will hit $4 million, his prediction about the rise of cryptocurrencies says in all. If the cryptocurrency industry rises by 1000 times from its current level, the price of Bitcoin which is currently $4,000 will be about $4,000,000. When asked to go into details about the time this prediction is expected to materialize, Draper said that he isn’t going to put a timeline on it but he is certain that this day would come. In his words;
“I don’t want to go into it in too great of depth, but at some period of time the cryptocurrencies will eclipse the fiat currency. So we’re looking at about 1,000x on what we’ve got now.”
He said that when this time comes, Bitcoin would become so popular that people would be using it more than fiat. He concluding by making reference to the Starbucks Bitcoin coffee deal that is going to allow people to buy coffee with Bitcoin. In his words;
“I think when you go to Starbucks to buy a cup of coffee, and you try to pay with dollars, they will laugh at you because you are not using Bitcoin or other cryptocurrency. They’ll laugh at you – it will be like the old lady paying out with pennies.”
What do you think about the Tim Draper Bitcoin price prediction in today’s crypto news? Is Bitcoin dead or will Bitcoin recover as Draper said? Share your thoughts in the comment section.