Bitcoin (BTC), the world’s leading cryptocurrency by market value, has fallen from am all-time high of $69,044.77 reached on November 10, 2021 to $16,746.62 currently, according to data firm កាក់ហ្គេកកូ . When many individual investors joined the crypto craze at the end of 2021, BTC evangelists predicted that the cryptocurrency was on its way to hitting $100,000 before the end of 2021.
FOMO Lured by these tantalizing predictions, many retail investors gave in to FOMO, which stands for Fear of Missing Out. FOMO is a crypto acronym used generally for anxiety of missing out on making money.
While the market slump has chilled amateur investors, BTC and crypto evangelists have not lost faith even as they got their fingers burned. This is the case of billionaire venture capitalist Tim Draper. He predicted that bitcoin would hit $250,000 by the end of 2022.
He just reiterated that prediction for 2023 in an email to CNBC. Given the current price of bitcoin, this means the digital currency will soar 1,400%.
“My assumption is that since women control 80% of retail spending, and only 1 in 7 bitcoin wallets are currently held by women that the dam is about to break,” Draper told the news outlet.
Draper believes that there are positive factors to restart the rise of cryptocurrency.
“I suspect that the halvening in 2024 will have a positive run,” the founder of Draper Fisher Jurvetson told CNBC.
The halving is an essential phenomenon of the Bitcoin protocol which takes place approximately every four years. It consists of halving the reward given to bitcoin miners who register new blocks on the blockchain .
The Bitcoin protocol contains a number of rules written into its code and which cannot be violated. The first of these is the limitation of the number of bitcoins: there will never be more than 21 million bitcoins in circulation. It is this notion of scarcity that makes the value of bitcoin.
Originally, the Bitcoin network’s initial block reward was 50 BTC. But a special clause in the protocol, another rule that cannot be transgressed, reduces this reward over the years: it is the halving.
ភាពមិនប្រាកដប្រជា Every 210,000 blocks, the miners’ reward for maintaining the Bitcoin network is thus halved. The halving therefore has a dual purpose: it limits the quantity of new bitcoins in circulation on the network and allows the longevity of the blockchain to continue.
Since a new block is created approximately every ten minutes on average, the halving generally corresponds to a duration of four years. There is nothing to do for the halving to occur, since it is written into the source code of the crypto-asset: the rewards are automatically halved when it occurs.
The big problem with Draper’s prediction is that there is a lot of uncertainty currently surrounding the cryptocurrency industry. We still do not know all the collateral victims of the bankruptcy of the empire of Sam Bankman-Fried, the former disgraced king of crypto.
អាណាចក្រគ្រីបតូរបស់ Bankman-Fried បានផ្ទុះឡើងក្នុងរយៈពេលប៉ុន្មានថ្ងៃនៅថ្ងៃទី 11 ខែវិច្ឆិកា បន្ទាប់ពីស្ថិតនៅកណ្តាលនៃឧស្សាហកម្មគ្រីបតូ។ ចក្រភពនេះត្រូវបានបង្កើតឡើងដោយការផ្លាស់ប្តូររូបិយប័ណ្ណ FTX និងក្រុមហ៊ុនបងស្រីរបស់ខ្លួន Alameda Research, a មូលនិធិការពារហានិភ័យ ដែលបានបម្រើការជាវេទិកាពាណិជ្ជកម្មសម្រាប់អ្នកវិនិយោគស្ថាប័នផងដែរ។
និយតករកំពុងព្យាយាមបញ្ចូលគ្នានូវអ្វីដែលបានកើតឡើង និងជាពិសេសរបៀបដែល FTX ដែលមានតម្លៃ 32 ពាន់លានដុល្លារក្នុងខែកុម្ភៈ អាចផ្ទុះឡើងពេញមួយយប់។