First of all this thread is open for discussions or insights are welcome as this topic is just a speculation or prediction by a man named Tim Draper.
So basically, Tim is a Billionaire venture capitalist and investor and has been one of cryptocurrencys biggest bulls, technically he earned a lot of profit already from bitcoin. He said that bitcoin price will rise up to $250,000 each BTC! But we all know that the bitcoin price has sunk more than 67 percent from its all-time high. So, for you as an investor or a fan of bitcoin, would you believe in this statement?
We are talking about the future here, we all know that BTC started very cheap from the beginning, but look at it now. Can it really rise again on 2022?
I think that the next major bull market is most likely going to come at the next halving, or the year after the next halving (so namely, 2020 and 2021), if the trend that has been the case for 3 halvings repeats.
Thus, I don't see 2022 as much of a bullish year at all. In fact, it'd be probably on the way down from a correction from all the hype that is generated by a potential bull market the year before.
But either way, I don't see the next bull market going up to $250k. That prediction is almost McAfee-like. Yes, institutional investors are flooding in atm, but it doesn't mean that $250k is guaranteed or even probable. There will be a huge chance though that this ATH of $20k will be broken during the next bull market. But prices at or beyond 6 figures is something else entirely, as it would require adoption to increase drastically over the next few years, and also see extremely high levels of hype imho.
I actually think McAfee is not insane and still has a chance. Sure he is a bit of a troll but his model is pretty solid, we just need to stay above "296 days below" as we were "296 days above" the prediction during the $20k peak. This site for reference:
For me, it's still a perfectly valid prediction, given how ahead of the curve we went during December. To stay safe, we would need to hit $20k again before October, otherwise we will need to break way above $20k in October to get some air ahead of the mean curve and some margin for the correction. According to the McAfee model, $100k will come in 2019 around September.