Bitcoin Seen Dropping Lower Before Shooting Back Up

Billionaire Tim Draper says bitcoin (BTC) could hit $250,000 next year while renowned investor Mark Mobius counters it could crash to $10,000.

Helped by the world's largest cryptocurrency and the troubled cryptocurrency market, it is expected to remain in the doldrums for most of next year, if not for long.

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Speaking at the Web Summit tech conference in Lisbon earlier this month, Draper stuck to his forecast for mid-2023, though he predicted the currency would reach a quarter million dollars by the end of 2022

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The financier mentioned a flight. Quality will decrease in the coming months, increasing the demand for bitcoin and turning other alternative coins into "relics".

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Women, who have stayed on bitcoin's fringes, will also begin buying, further boosting its price, Draper told CNBC.

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In contrast, Mobius, who has made a name for himself as an emerging markets expert, noted that bitcoin would drop to $10,000 after breaking the technical level of $17,000,

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as higher interest rates would keep cryptocurrencies down, which could lead to crypto lender bankruptcy. After that no interest is paid. Unattractive.

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Credit-Getty images

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