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The value of cryptocurrencies, and Bitcoin especially, has been a subject of careful studies and naive guesses for years now. Many believe that cryptos are about to go higher than ever before, while others say that they might drop, and never go up again.

But the question remains, how high can Bitcoin rise?

The rise of Bitcoin

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Tim Draper, a well-known Bitcoin bull and venture capitalist, says that the price of Bitcoin is about to go way, way up. He believes that it might even reach $250,000 in the next four years and that some serious changes are coming.

After the Blockparty, Draper’s cryptocurrency celebration that happened on Thursday, he left a tweet in which he states that he predicts that Bitcoin’s value will go up to $25k in 2022.

Several hours later, he posted another tweet in which he states that the last one was missing a zero, and has corrected that by saying that $250k by 2022 is the true number that he predicts.

In fact, Draper seems to be convinced that this is what the future holds, which is why he decided to memorialize this predicament via a poster which was placed in front of the Draper University.

Draper’s experience with Bitcoin

Tim Draper is a known investor and has already led some memorable investments when it comes to many different companies. Those include Twitter, Skype, SpaceX, as well as Tesla. He also recognized the future importance of Bitcoin back in 2014 and had purchased around $30,000 in Bitcoin. After the downfall of the exchange known as Silk Road, those funds were gone.

He also invested in other companies that are working with Bitcoin and other cryptocurrencies, such as Coinbase.

Draper’s prediction

As for Draper’s prediction about the price of Bitcoin, it came after its value rose 17%, settling at $8,000. 2018 brought a serious struggle for this currency, and many investors were worried that their governments would bring regulatory crackdowns.

Draper has yet to share how exactly did he come up with these calculations. This estimation can only be taken into consideration if we assume that Bitcoin will become an accepted currency worldwide, which is something that even the most optimistic crypto enthusiasts question. For now, Bitcoin has serious stability issues to resolve. Its network currently deals with 8 transactions per second, while Visa says that it can work with 65,000 during a second, at max.

Many disagree about the future of cryptos, and especially that of Bitcoin. Due to a dispute, back in 2017, Bitcoin Cash forked off of the main blockchain. There were also many different ideas about doubling blocks in size, but many developers believed that this would bring even more damage to Bitcoin’s basis.

The debate between Bitcoin and Bitcoin Cash continues to this day.

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