One of the major investors and Bitcoin Bull, Tim Draper, has predicted that in the upcoming years, Bitcoin will see a huge rise in its market value. Draper said that he had underestimated the value of Bitcoin previously when he had predicted it to reach $250,000.
The Venture Capitalist is sure claiming that in the next four years, Bitcoin market value will go over $250,000. He has predicted it to happen by 2023. He has made his prediction on the basis that soon, this new form of digital currency will reach the mainstream and global adoption of this new currency will support to raise the market value of Bitcoin.
Though, one can say Bitcoin is still complex for many of us. People still prefer formal currency notes that have a centralized authority and have the risk to get manipulated under political pressure. Still, this formal currency seems to be the easiest way to pay for the services we use. According to Tim Draper, this is because Bitcoin lacks the ease of use, that is holding it up from reaching the mass global audience.
However, when there is something that is bound to happen and that is the adoption of a cryptocurrency over the years. Decentralized system and safe easy way to transfer funds will make people choose Bitcoin as their currency. Leaving behind the fiat currency that is again, porn to get affected by the political influence and centralized system.
This is the long term prediction by Tim Draper and judging from his previous predictions that have also come true, chances are Bitcoin will cross the market value $250,000 of by 2023. Though, in the short term, Bitcoin is still dealing with its sideways trading pattern.