The entire crypto market has been struck by the biggest sell-off recorded since the beginning of the year.
Bitcoin fell beneath $9,500 support which led to the bears gaining control.
XRP which had a dismal performance in the last three days went further down south as it skid from the prior day’s closing price of $0.2528 to $0.2341 present day’s low slipping by 3.85%.
Notable losses were seen on cryptocurrencies like Bitcoin SV, Tezos, Tron, Dash, NEO, Cosmos, and NEM.
On the flip side, the US venture capitalist still maintains his bullish outlook for pioneer crypto-asset Bitcoin. In a CNBC show, Draper discussed his bullish views on Bitcoin and why he believes Bitcoin may reach $250,000 in the next few years.
Tim Draper, who is said to have previously invested in Bitcoin, even when it has not yet gained fame, predicts that Bitcoin will reach $250,000 in 2022/2023. He further mentioned that, given the observed global incidents, an outbreak of the coronavirus is an example, and that it remains to be seen that Bitcoin will become a safe-haven and will subsequently become the “preferred currency”.
The reference of this writer is to Plan-B, a pseudonymous quantitative analyst working at a European institution, is the Bitcoin price, stock-to-flow model.
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