Investor Tim Draper believes that by the first quarter of 2023, the Bitcoin exchange rate will reach the level of $ 250,000, however, strengthening the position of the cryptocurrency as a means of accumulation can inhibit the movement of the exchange rate to this indicator.
In an interview with Yahoo! Finance, venture capitalist Tim Draper reiterated his optimistic outlook for BTC to reach $ 250,000. However, taking into account current market trends, Draper believes that the implementation of the forecast may be a little delayed.
Draper explained that BTC consolidation took place earlier than he expected. The investor believed that competing projects would be able to attract more attention, but the society is focusing on BTC, as this cryptocurrency offers decentralization.
Note that analyst Mike McGlone spoke about consolidation the day before. He believes that Bitcoin has entered a phase of long-term consolidation. According to his assumptions, you should not expect an explosive increase in the price of cryptocurrency even on the eve of the halving, which will take place in May next year. McGlone's opinion is supported by other traders.
Meanwhile, expert Brian Kelly believes that 2019 will be a turning point for Bitcoin, as investors begin to use cryptocurrency as an alternative and a substitute for gold to hedge risks in the face of macroeconomic instability.
