Why Ultra Wealthy Bitcoin Bulls Are Buying More Bitcoin THAN EVER - Should You Be Too? Crypto News 2018

Also Read : Bitcoin Will Rise EVEN IN TOUGH TIMES” - Prominent Danish Banker And Maverick Analyst Explains Why BTC News 2018

Welcome back to another Article. Thank you for joining me here today. So in this Article I want to not only discuss why I believe bitcoin's price is going to make a pretty respectable recovery and the next couple of weeks, but I also want to talk about the opinions of for extremely wealthy individuals who have set their own price points that they actually expect for bitcoin. So it's all well and good for me to give you my opinion, but I like to give you the opinion of those truly entrenched in crypto and really involved in the industry on a personal level because I feel like that's pretty important and it lends credence to these overall price predictions. Right? So anyway, folks, I personally believe that the tax selloff that we experienced with crypto currency backgrounds tax day is actually now pretty much done. So if you're familiar with that, a lot of people were actually selling their cryptocurrencies and order to pay certain taxes or just pay their taxes and general taxes can definitely sneak up on people.

And if people need something to pay them off, cryptocurrencies can sometimes be a viable option. Also, if taxes were recruited during cryptocurrency trading, some people might actually need to sell off some of their assets in order to pay their cryptocurrency taxes. So I honestly believe that a major recovery for Bitcoin is right around the corner for that reason, primarily. And we've lately seen a couple of other technical indicators that really point to a pretty significant bitcoin recovery. So anyway, folks, what do these wealthy individuals actually have to say about bitcoin and its future value? So let me give you a brief introduction. Really quick. Last year, big one, exploded and value going from under $1,000 a coin at the beginning of 2017 to an all time high of nearly $20,000 on December 17th. Shortly thereafter, bitcoin entered a bear market and is down nearly 40 percent since the beginning of the year.

According to Google trends and trust has also steadily declined to sense its peak bear markets, however, usually don't last forever. And sooner or later something happens that reignites the public's interest and causes the bitcoin price to rise. For example, institutional investors such as endowment funds might decide to start dabbling in this new asset class and they probably will. I think that's almost a guarantee at this point. So bear markets such as these tend to be good times for longterm investors to start accumulating. And asset bitcoin currently sits at around $9,000 a coin, but some see bitcoin going much higher in the not too distant future. Some of these figures have impressive backgrounds in the fields of finance and technology, and they have made bold predictions in the past, some of which have actually come true. So let's take a look at four of the biggest bitcoin and bowls.

So bull number one, chamath Palihapitiya. So they predicted that bitcoin will be sitting at $100,000 by 20, 20 or 2021 and $1,000,000 by 20, 37. So shamatha ran aol instant messenger and later served as an executive of facebook. He founded the venture capital firm social capital in 2011, which has invested in startups such as box, inc and Yammer, which was acquired by Microsoft Corporation in 2012. He is also the partial owner of the Golden State Warriors. Now chamath got an early, having bought bitcoin at around $100 for coin. He owned $5,000,000 in Bitcoin in October 2013 when it was trading for under $200 per coin. Now, Shamatha is known for making bold predictions. As was noted in 2016, he sees Amazon reaching a market cap of $3,000,000,000,000. Last year he predicted the Tesla would eventually capture five percent of the global market for cars and a $336 billion dollar valuation. So bull number two and above that I personally believe has some of the most experienced in the cryptocurrency sphere.

Now bull number two is tim draper. His prediction is that bitcoin will be sitting at $250,000 by 2022. Tim Draper was an early investor in internet companies in 1985. He founded the Silicon Valley Venture capital firm, Draper Fisher Jurvetson, which invested in Skype, hotmail, Tesla, space x, and Baidu Inc. He is also bullish on cryptocurrencies. On april twelftH at draper, predicted that bitcoin would reach a price of $250,000 by 2022. He sees cryptocurrencies like bitcoin, eventually replacing fiat currencies such as the us dollar and the euro. So draper says that bitcoin, unlike fiat currencies, is not subject to the whims of some political force or another. And I think his opinion is honestly pretty respectable. He purchased 30,000 to bitcoin in 2014 for $19,000,000 in september of 2014. He predicted that the bitcoin price would reach $10,000 within three years, which he was actually correct about. SO bitcoin bull number three is john mcAfee.

Now honestly, I think john mcafee's opinion is a little too bullish and a lot of people have agreed with that, especially in polls that have actually taken on the Blog. But anyway, whatever you think about mcafee, he is still extremely bullish on bitcoin and he's made some pretty interesting claims. So mcafee actually predicted in july of 2017 that bitcoin will be sitting at $500,000 per coin by 2020. However, he upped that prediction in november of 2017 to $1,000,000 by 2020. So john mcafee founded mcafee inc, which sells antivirus software in 1987. Mcafee sought the libertarian party nomination for president in 2016. He also is an outspoken supporter of cryptocurrencies. Mcafee became chairman and ceo of mgt capital investments inc, a bitcoin mining firm in may of 2016 later that year, the securities and exchange commission or sec subpoenaed mgt causing the stock to fall. Mcafee steps down as chairman and ceo of mgt in august of 2017 and left the company a few months later in july of 2017, mcafee predicted that bitcoin would reach $5,000 by the end of the year and $500,000 by 20, 20 in november of 2017.

he increased this to $1,000,000. So like I said, I personally believe that mcafee's outlook is slightly too bullish for my liking. I think that honestly, draper has a fairly realistic prediction and a lot of people, especially people on this Blog that have participated in the surveys that I've taken, tend to agree with that sentiment. A lot of you have actually responded that you believe bitcoin will hit about $250,000 or so by 2020, which I personally think is really pretty reasonable. So as always, folks, let me know what you think about these bitcoin bowls down in the comment section below. Are tHey too bullish or they too comfortable at their opinions? Do they need to back off a little or they just write, you know, do they know they're talking about are their opinions valid and acceptable and even reasonable? So as always, let me know what you think. Thank you all for watching. I really appreciate it. See all of you in the.

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