- VC Tim Draper predicts $250,000 per BTC by the end of 2024.
- Draper cites the changing political situation and the halving event, but Arthur Hayes disagrees.
American venture capitalist (VC) investor Tim Draper expects it to rise 3.5 times. Bitcoin (BTC) Until the end of this year. In recent years interviewThe VC predicted that Bitcoin could reach $250,000 by the end of 2024.
“Probably, if we had to estimate it by the end of the year, it would be $250,000 by the end of the year. “It looks pretty good.”
This forecast implies a significant increase of 3.5x from the current price of around $70,000 and highlights BTC’s potential upside.
The VC previously predicted the same target for BTC by the first quarter of 2023. However, the prediction did not come true. However, his 2014 prediction that BTC would reach $10,000 within three years has been confirmed.
Politics, Macro and Bitcoin Price Prediction
When asked why $250,000 per BTC was not reached by the first quarter of 2023, Draper said:
“I was a little too optimistic. I did not expect all the resistance from bureaucrats in a free country. I expected a free country to be a free country and allow the market to decide what happens there.”
“A good leader is one who trusts people and sets them free,” Draper said. And weak leaders are those who try to control everyone with fiat money.” He pointed out that great leaders are emerging right now.
On the upcoming halving event, the VC was very optimistic, as he said.
“If you’re an investor in the stock market, I tell you not to bet against the Fed. If you’re a Bitcoin buyer, don’t bet on halving.”
He emphasized that a supply shock following the halving could push BTC prices higher.
But in other words, BitMEX founder Arthur Hayes said: predicted The halving was framed as a news selling event, citing a liquidity crisis expected around mid-April.
“Given that the halving occurs at a time when dollar liquidity is tighter than usual, this will add momentum to the furious selling of crypto assets.”
Meanwhile, BTC has expanded its near-term price consolidation around previous cycle highs.
With only a few days left until the halving, it is limited to between $68.3K and $71.5K. The market’s indecision shows more players are on the sidelines as the halving approaches.