In line with the perception of billionaire Tim Draper, Market Expert Tone Vays is now bullish on Bitcoin price for the next few years but still believes $250K is a ludicrous prediction for the cryptocurrency in the next 3 years.
Bitcoin is demonstrating growth at the beginning of the week. According to CoinMarketCap analytical service, the BTC rate has grown about 5.69% over the past 24 hours, which allowed the cryptocurrency to reach the level of $ 7,600. Most of the crypto assets in the TOP 10 capitalization ratings, except for Tezos and the stablecoin Tether, are also in the positive zone.
At the press time, the Bitcoin rate is at $7,555 mark. The current growth of BTC is a consequence of the cryptocurrency rebound rate from the main support level.
To continue the positive movement, Bitcoin has to overcome resistance at a height of $ 7,845 mark, according to the BTC/USD chart.
The trend line of support has also indicated that Bitcoin is at present exhibiting positive movement in the market.
Bitcoin Price Predictions
Amid an increase in the value of digital assets, a popular analyst, Tone Vays, predicted further Bitcoin movement on the upside trend. According to him, the achievement of a BTC level at $ 50,000 by 2023 is possible.
— BLOCKTV (@BLOCKTVnews) December 22, 2019
Vays implied that he’s not a fan of the $250K prediction made by Draper, saying the forecast “grossly irresponsible.” However, Vays said Bitcoin is still bullish.
Members of the crypto community responded to Vays. A twitter user drew attention to the discrepancy between the current forecast and the prediction made by the analyst predicted in 2017. Previously, the specialist was confident that BTC could overcome the level of $ 100,000 in 2018.
Note that venture capitalist Tim Draper previously announced the growth of the Bitcoin rate to $ 250,000 over several years. In his opinion, the coin will start growing in value due to the halving, within 6-12 months after this event will take place.
Draper considered the upcoming New Year holidays as one of the factors that will affect the adoption of digital currency positively. According to him, traders and investors will present cryptocurrencies to their friends or relatives as a gift.
Note, that many participants in the crypto community expect from BTC growth to the level of $ 100,000 in 2020.
Crypto industry veteran and Casa startup technical director Jameson Lopp believes that the current position of BTC and the digital asset market can be taken advantage of.
“There are many reasons why Bitcoin isn’t ready for mainstream adoption; development is ongoing. On the bright side, if you are reading this then you are (or still have the opportunity to be) an early adopter,” the specialist wrote in his microblog.
Recall that well-known analyst Peter Brandt also spoke positively regarding the possibilities for further BTC movement.