Will Bitcoin Explode After the Halving?
Tim Draper has long been a Bitcoin believer. The legendary investor who also invested in Twitter Hotmail & Tesla bought 30,000 Bitcoins at an auction in 2014. He notoriously claimed that Bitcoin will reach $10,000 within 3 years shortly after the purchase.
Recently Draper has claimed that Bitcoin will reach $250,000 after the halving which is expected to occur in 2020.
"I predicted $10,000 three years from when it hit $10,000 â and was even being interviewed at the time I did it - and we hit it on the number. And this $250,000... I am more confident of $250,000 by 2022 or the first quarter of 2023 than I am of the prediction of $8,500 on December 31." Draper said
Bitcoin Weekly Price Prediction
Here is our weekly BTC review.
We can see developing growth for Bitcoin. It has found support on 7000 level and moving up very quickly. Traders are making a lot of money taking 30-40 Swing trades a day on 1H chart. MACD is in green for few days already. Commodity Channel Index is above Zero and confident enough to push bullish market up. ADX indicator is absolutely ready to have a green crossover and if it does the market should explode.
A special thanks to Senin for his technical analysis.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado