Billionaire Tim Draper Stands By Bullish $250,000 Bitcoin Price Target For 2022

patispace

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Quote from: Tapyaks72 on September 26, 2018, 05:18:29 PM

Quote from: thecodebear on September 26, 2018, 04:44:05 PM

I'd say no, because in 2022 it will likely be between the next boom and the one after. Next boom in ~2020 will likely go to ~$100k. So 2022 could very well be in the build-up phase for the following boom so I think in 2022 we'll see a price between $50k and $100k for most of the year, with the price rising. I think $250k MIGHT be possible in 2023 or 2024 though.

All of as here is just an assumption, but for me bitcoin has a wider scoop it is global there are countries, business establishment, who now making study how bitcoins and crypto currency can be used in their businesses, because that demand will spike any time.

I have no doubt that cryptocurrencies will play a fundamental role in the economy in 2022, and its use will be widely disseminated in the formal economy in the near future. What remains unclear to me is if bitcoin will remain for many years as the preferred cryptocurrency to carry out the daily transactions that the future economy will demand, because at the end of 2017 when bitcoin was put to the test by the great euphoria that prevailed, it did not seem to respond well to massive use, which caused the transactions to take several days to be confirmed, and the fees were extremely expensive. Therefore I am not sure if the bitcoin will be able to survive succesfully the new wave of cryptocurrencies that is coming, more efficient and flexible than the current cryptos, otherwise I do not see how bitcoin can continue to dominate the market to reach such a high price.

Kevin77

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Quote from: Deamindit on September 25, 2018, 09:13:25 PM

We will see 50.000 at the middle of 2019. Mark my words.
We will see Bitcoin ETF earlier, then price will rise until middle of 2019.

There is actually no need marking your words, as one thing I know for sure, what you have just said will always be a speculation and assumption as no one can see exactly what the future holds. Simply more like you trying to state what you would like to see happen, come 2019.

In a market I have always known, what would be will be and as long as you stay focused, monitor the trends and make decisions based on what you see, then you would not have a problem. 2019 may come with good surprised but however it comes, it is one thing to just be patient and wait for it and then act based on how you perceive it.

Osarman

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Quote from: honghe99 on September 26, 2018, 03:23:09 AM

I have some personal opinions to express, please forgive me English is not very good!
Billionaire Tim Draper is not the same as our ordinary people. It enters the market to play the role of whales and sharks, and we are just their food!

Quite some personal opinion but I really feel you. Your English is not that bad anyway, at least better than a lot I have seen on this thread. I totally understand with you that Tim Draper is just another whale that is accumulating the dips and then try to dish out to the community how he really want to see the price move by 2022, but technically, even being a whale or not, it is something that is actually reasonable for us to see happen and it depends on each individual if they want to get fed on or if they actually are smart enough to understand that whichever way, to beat the whales to it, is to always take advantage of the dips and sell the peaks. Although, the part where you said we are just foods is quite hilarious and somehow for real for most part of it.

Tapyaks72

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Quote from: thecodebear on September 26, 2018, 04:44:05 PM

I'd say no, because in 2022 it will likely be between the next boom and the one after. Next boom in ~2020 will likely go to ~$100k. So 2022 could very well be in the build-up phase for the following boom so I think in 2022 we'll see a price between $50k and $100k for most of the year, with the price rising. I think $250k MIGHT be possible in 2023 or 2024 though.

All of as here is just an assumption, but for me bitcoin has a wider scoop it is global there are countries, business establishment, who now making study how bitcoins and crypto currency can be used in their businesses, because that demand will spike any time.

thecodebear

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I'd say no, because in 2022 it will likely be between the next boom and the one after. Next boom in ~2020 will likely go to ~$100k. So 2022 could very well be in the build-up phase for the following boom so I think in 2022 we'll see a price between $50k and $100k for most of the year, with the price rising. I think $250k MIGHT be possible in 2023 or 2024 though.

zazarb

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Quote from: justspare on September 25, 2018, 02:51:16 PM

Quote from: LeGaulois on September 22, 2018, 12:42:15 PM

$250k in 4 years by now is too much but I won't complain if it becomes a reality, trust me :p
But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

As it is now, all we have in our hands is a theory and with the chart posted by WindFury and the consistent increase analysis Franky1 posted, I guess it seems like something that is quite close to being possible. However, we really do not know how the future is always going to play out but at least; it is worth keeping up the hope and optimism till then for those who really do not have any single idea why they invested in the market in the first place and the essence of focusing on the long term.

Quote from: zazarb on September 25, 2018, 02:15:17 PM

Theoretically, everything seems to be possible, and a ~3.466x price increase is really normal, but from the point of realistic view there is little promise that everything will be so good, and 250,000% in 2022 seems a little to much.

In the past bitcoin had brought all the theoretical into reality hence why not in coming days. In my speculation bitcoin may test $1 million levels too by 2022. Yes, it is still within Franky's calculations. He revealed the minimum of every year so far but the maximum is as per demand still. For example, as per his calculations the optimum price of 2013 is $12.13 but in open market we had experienced $1200 in 2013. (I assume you made a typo of % instead of $ Wink

).

I partly agree with your opinion, your facts are true, but I'm left with my opinion, that Bitcoin price will not reach 250000$ in 2022. Of course, this is just my opinion.

honghe99

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Buy, sell and store real cryptocurrencies

I have some personal opinions to express, please forgive me English is not very good!
Billionaire Tim Draper is not the same as our ordinary people. It enters the market to play the role of whales and sharks, and we are just their food!

Wind_FURY

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Quote from: audaciousbeing on September 25, 2018, 07:43:06 AM

Quote from: Wind_FURY on September 25, 2018, 03:34:56 AM

Quote from: audaciousbeing on September 25, 2018, 02:35:07 AM

When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

If you believe that Bitcoin is only good for trading to make more fiat for your bank account, then maybe it will be the biggest bubble the whole world will ever see.

But if you believe in Bitcoin as hard money, an asset for true sovereign ownership, a means for censorship resistance, and a good store of value, only then will you see that Bitcoin is no bubble.

I was only making a sarcastic comment. Imagining how bitcoin as a currency and an assets that goes beyond the trading aspect of it, could increase from $6,000+ to $250,000 within four years is going to be a long run without taking into consideration the challenges that comes along with such huge increase, is nothing but a mere wishful thinking.

But the more "challenging" years were during 2009 - 2013, when no one believed in Bitcoin. But it still went from nothing to $1000, before it crashed, and then went to $20,000 after that.

Would you have "imagined" Bitcoin to reach $20,000 after MtGox? I believe your answer would be no because, I admit, it was hard to "imagine". But today, it is not that hard in my opinion.

Quote

There is need to be practical here percentage growth is possible but at some point, it cannot no longer be growing at an incremental rate as nothing grows forever. During the all time high of 2016, its was something that everyone was joyous about but at the same time skeptical about how its going to be sustained which the market failed to keep up with eventually because there are factors outside the control of enthusiasts that influence the crypto market and today, people who bought at the time who are hopeful that things will turn out well, are still waiting.

You might be right. But I am confident that Bitcoin's upward volatility will prove that wrong.

I will see you in the next having. Cool

Deamindit

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We will see 50.000 at the middle of 2019. Mark my words.
We will see Bitcoin ETF earlier, then price will rise until middle of 2019.

justspare

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Quote from: LeGaulois on September 22, 2018, 12:42:15 PM

$250k in 4 years by now is too much but I won't complain if it becomes a reality, trust me :p
But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

As it is now, all we have in our hands is a theory and with the chart posted by WindFury and the consistent increase analysis Franky1 posted, I guess it seems like something that is quite close to being possible. However, we really do not know how the future is always going to play out but at least; it is worth keeping up the hope and optimism till then for those who really do not have any single idea why they invested in the market in the first place and the essence of focusing on the long term.

Quote from: zazarb on September 25, 2018, 02:15:17 PM

Theoretically, everything seems to be possible, and a ~3.466x price increase is really normal, but from the point of realistic view there is little promise that everything will be so good, and 250,000% in 2022 seems a little to much.

In the past bitcoin had brought all the theoretical into reality hence why not in coming days. In my speculation bitcoin may test $1 million levels too by 2022. Yes, it is still within Franky's calculations. He revealed the minimum of every year so far but the maximum is as per demand still. For example, as per his calculations the optimum price of 2013 is $12.13 but in open market we had experienced $1200 in 2013. (I assume you made a typo of % instead of $ Wink

).

zazarb

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Quote from: franky1 on September 22, 2018, 02:12:05 AM

3 years hmm

$6k to $250k.. hmm

math time
if bitcoin is to stay at $6 this year
it only needs to *3.46681 each year
end of 2018 $6000
end of 2019 $20800.86
end of 2020 $72112.63
end of 2021 $250000.79

i think a ~3.466x price increase is normal, healthy and achievable after all if we done the same number historically
EG
lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

Theoretically, everything seems to be possible, and a ~3.466x price increase is really normal, but from the point of realistic view there is little promise that everything will be so good, and 250,000$ in 2022 seems a little to much.

audaciousbeing

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Quote from: Wind_FURY on September 25, 2018, 03:34:56 AM

Quote from: audaciousbeing on September 25, 2018, 02:35:07 AM

When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

If you believe that Bitcoin is only good for trading to make more fiat for your bank account, then maybe it will be the biggest bubble the whole world will ever see.

But if you believe in Bitcoin as hard money, an asset for true sovereign ownership, a means for censorship resistance, and a good store of value, only then will you see that Bitcoin is no bubble.

I was only making a sarcastic comment. Imagining how bitcoin as a currency and an assets that goes beyond the trading aspect of it, could increase from $6,000+ to $250,000 within four years is going to be a long run without taking into consideration the challenges that comes along with such huge increase, is nothing but a mere wishful thinking. There is need to be practical here percentage growth is possible but at some point, it cannot no longer be growing at an incremental rate as nothing grows forever. During the all time high of 2016, its was something that everyone was joyous about but at the same time skeptical about how its going to be sustained which the market failed to keep up with eventually because there are factors outside the control of enthusiasts that influence the crypto market and today, people who bought at the time who are hopeful that things will turn out well, are still waiting.

Wind_FURY

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Quote from: audaciousbeing on September 25, 2018, 02:35:07 AM

When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

If you believe that Bitcoin is only good for trading to make more fiat for your bank account, then maybe it will be the biggest bubble the whole world will ever see.

But if you believe in Bitcoin as hard money, an asset for true sovereign ownership, a means for censorship resistance, and a good store of value, only then will you see that Bitcoin is no bubble.

nydiacaskey01

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Looks like the formula used to attain $252,653 USD is 246% increase every year and if that formula is correct $252,653 USD is really possible. Last years growth if you start from December 16 2016 to December 18 2017 it shows that growth is 2,286 %. That is $780 USD at December 16 2016 and $18,615 USD at December 18, 2017.

audaciousbeing

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When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

Wind_FURY

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Quote from: jseverson on September 24, 2018, 04:50:37 AM

Quote from: LeGaulois on September 22, 2018, 12:42:15 PM

But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

I completely agree that this is all completely speculation, but Tim Draper isn't really considered an analyst. The only reason people care about his predictions is because he predicted that Bitcoin would hit $10k in 3 years back in 2014, which ended up being true. He's really just a permabull who got lucky with an almost equally absurd prediction in the past. Getting an absurd prediction right kind of makes his newer ones seem less absurd, but I'm not holding my breath for it lol.

Then what would be the maximum price, that you can imagine, for Bitcoin in 4 years?

If your maximum price is less than 6 digits, then I believe you are short-changing those coins in your wallet. Haha.

wuvdoll

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Quote from: Pursuer on September 22, 2018, 02:26:13 AM

"stands by"? LOL.
it seems like news sites are running out of bullshit to publish so they sometimes start re-posting the same old news again. specifically since they move with the current and the current market current! is a rising one (even if it is a small one) so they started pulling out old news.
nothing has changed for predictions like this to change. $250k is still as possible as it was before. no more, no less. and it is mainly based on extrapolation of some data and based on history of bitcoin and its spikes.

They have always run out of bullshit to post a long time ago since they never end up having any real news at the end of the day though. You are totally right with $250k being possible at that point in time he mentioned, if all things being equal and looking at the 3.466 incremental percentage franky1 made clear and in that case, probably by then, without any craziness in the market, one might see $252,653.36 in even 2021.

Moreover, all this would just be assumptions anyway as we all do not know what the future can hold anyway, but it sounds a lot plausible.

jseverson

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Quote from: LeGaulois on September 22, 2018, 12:42:15 PM

But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

I completely agree that this is all completely speculation, but Tim Draper isn't really considered an analyst. The only reason people care about his predictions is because he predicted that Bitcoin would hit $10k in 3 years back in 2014, which ended up being true. He's really just a permabull who got lucky with an almost equally absurd prediction in the past. Getting an absurd prediction right kind of makes his newer ones seem less absurd, but I'm not holding my breath for it lol.

But yeah, if he gets lucky again I'm not complaining either lmao.

Wind_FURY

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Quote from: franky1 on September 22, 2018, 02:12:05 AM

3 years hmm

$6k to $250k.. hmm

math time
if bitcoin is to stay at $6 this year
it only needs to *3.46681 each year
end of 2018 $6000
end of 2019 $20800.86
end of 2020 $72112.63
end of 2021 $250000.79

i think a ~3.466x price increase is normal, healthy and achievable after all if we done the same number historically
EG
lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

Or it would be better to base your forecasts on past performance.

I believe it said $100,000 on 2021, and near Tim Draper's 250,000 prediction on 2020.

All the pieces of the puzzle fits! Cool

1Referee

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Quote from: LeGaulois on September 22, 2018, 12:42:15 PM

$250k in 4 years by now is too much but I won't complain if it becomes a reality, trust me :p
But theory and practice are different. It's still a speculation and it will stay until proven.

By the time it is 2022 the price has gone up to such degree, that people won't even bother pointing him at his wrong prediction.

He can always say; well, the price didn't go up to $250,000 but we are at least above $100,000 which is fine as well, and everyone will agree with him.

Honestly speaking. I hope for the sake of Bitcoin that we won't reach $250,000 by that time. I prefer Bitcoin to be fundamentally ready and reflect being worth such figures before actually reaching them. Bitcoin as it is right now is not fundamentally ready. It will be eventually, but there is no need to rush things. Let's enjoy this journey, because this is the first and last one we'll ever be able to witness.

Quote from: LeGaulois on September 22, 2018, 12:42:15 PM

No idea why people don't call me Bitcoin analyst expert when I make such claims

You are an expert amongst a community full of other experts. Now happy? I'm still more expert than you though. I'm the expertest expert in existence.

Topic: Billionaire Tim Draper Stands By Bullish $250,000 Bitcoin Price Target For 2022 (Read 394 times)