Bitcoin Price Prediction - BTC Slips But Here’s Why Draper Still Sees $250,000 For Top Crypto
During the Asian session, BTC is consolidating just below the $17,000 level and the closing of candles above $16,750 is keeping Bitcoin price prediction bullish. Tim Draper, a venture capitalist, has been a consistent bitcoin bull despite the lead cryptocurrency's 60% decline in 2022.
Draper predicts that bitcoin's value might rise to $250,000 in the coming year. "Bitcoin bull Tim Draper had one of the more positive calls on bitcoin of 2022," CNBC said, "predicting the token would've been worth $250,000 by the end of the year." Although bitcoin's value reached about $70,000 by year's end in 2021, it had a precipitous decline in 2022, prompting Draper's prediction.
Last year, Bitcoin followed stocks and bonds in falling as growing inflation dampened investor enthusiasm for virtually all investment assets. The price of bitcoin continued to fall after the FTX cryptocurrency exchange went bankrupt. To this day, though, Draper remains committed to his audacious forecast.
At an FTX bankruptcy court hearing in Delaware on January 4, Seth Shapiro, an attorney with the US Department of Justice (DOJ), stated that the US government is in the process of taking 56 million shares of Robinhood Markets. The shares are worth approximately $460 million and are linked to FTX founder Sam Bankman-Fried (SBF).
According to a filing by Robinhood with the Securities and Exchange Commission (SEC) in May of last year, Bankman-Fried was the company's sole director and majority owner, and Emergent Fidelity Technologies purchased a 7.6% stake in the company.
The current FTX management, Bankman-Fried, a specific FTX creditor, and cryptocurrency lender Blockfi, which also declared bankruptcy in November of last year, have now challenged the ownership of
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