$250,000 BTC?
And with all this in mind, he doubled-down on his price prediction that Bitcoin could eventually foray out of its quintuple-digit cell to finding a home at $250,000. Jeffrey was hesitant to give an explicit timeline, but, considering his aforementioned comments about the time compression in the cryptosphere, such a figure has the potential to be achieved in a few years’ time.
Jeffrey isn’t the only analysts making calls in this range. Speaking to CoinTelegraph, Tim Draper, a legendary venture capitalist based in the heart of Silicon Valley, explained that he believes that $250,000 for each BTC is possible… eventually.
Draper, who parents a crypto-friendly venture capitalist, explained that Bitcoin’s recent move lower could just be a byproduct of market cycles, potentially accentuated by external bearish pressures. Draper then noted that in any business, a disruptor — Bitcoin in finance’s case — often moves with immense volatility, even if the innovation holds immense value for the health of society.
Regardless, the staunch cryptocurrency optimist remarked that over time, U.S. dollars and other fiat currencies will depreciate rapidly, creating an environment that could see BTC gain notable levels of traction. Echoing comments made by Travis Kling, Draper even explained that cryptocurrencies aren’t tied to a central bank, which by extension, includes the whims of inflation and the flaws in human nature.
Yet, some have been even more optimistic. Through the use of a compilation of the Internet’s historical growth cycles, Bitcoin’s adoption curve, among other fundamentals factors and points of in-depth analysis, Filb Filb noted that $333,000 for each BTC could make sense eventually.