Legendary venture capitalist Tim Draper caused a stir in the crypto community when he predicted during a CNBC interview in June 2021 that Bitcoin would surge to $250,000 by the end of 2022. With bitcoin currently trading around $30,000 and trading in a range between $28,000 and $31,000, that is on the cards for the end of the second quarter. Many believed Tim Draper tried to downplay his earlier bold claim. But Tim Draper came out and doubled his claim.
Bitcoin (BTC): Why is Tim Draper so optimistic?
Bitcoin hit a new all-time high (ATH) in November 2021 and rocketed to $69,000. Since then, bitcoin has continued to slide lower apart from a brief rally in March that turned out to be a false breakout. Bitcoin has been in a bearish trend for months.
Inflation continues to rise across Europe and the United States. Jerome Powell and the Fed continue to hike rates, but quantitative tightening seems an impossible task given the amount of raw debt in the system. The dollar’s value has collapsed over the past century, and now ordinary consumers are paying the price for the money-printing frenzy during COVID. The dollar has depreciated and people are desperate for an alternative.
Bitcoin offers the best hedge against inflation. Due to Bitcoin’s scarcity with a supply capped at 21,000,000, its value will naturally increase over time. Bitcoin offers people an alternative store of value and is becoming more mainstream.
Will Tim Draper’s prediction come true? People who have been in the crypto space for a few years will always notice how quickly bitcoin can move in either direction if it wants to.
Gnox Token (GNOX): Will it be able to redefine the DeFi space?
gnox is a protocol where DeFi is clearly targeted. Scheduled for launch in late Q2 2022, Gnox is a protocol that will offer yield farming as a service. Gnox is the first protocol to offer this service and plans to revolutionize the way investors interact with the DeFi space.
The protocol features a treasury designed specifically for token holders. The treasury is funded by buying and selling taxes on each token transaction. Then it is used in DeFi protocols to generate income. This return is reflected every 30 days in stablecoin for token holders, and since the treasury’s capital is never touched, only the proceeds, the Gnox protocol seems hard-built to favor long-term investors looking to generate passive income .
Gnox token holders will be exposed to DeFi due to token ownership, and the protocol will make DeFi investing available to everyone, removing current technical hurdles. In the pre-sale phase, early investors are eagerly awaiting how the token will perform.
Learn more here:-
Participate in the pre-sale: https://presale.gnox.io/register
Website: https://gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://twitter.com/gnox_io
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