Billionaire venture capitalist Tim Draper says anyone who speculates about Bitcoin in the short term may want to think.
In a new ask-me-something on Facebook, Draper explains why he does not make any short-term predictions about the price of BTC.
"I never make Bitcoin predictions in the short term because anything can happen in the short term. People can manipulate the price. It moves up and down, depending on whether large customers are buying or large owners are for sale. It moves up and down, and if you invest in the short term, you make a mistake.
Bitcoin is a long term stop, because what it is is the future of the currency. And the currency will be decentralized and open, and you will have a much more fluid and dynamic currency if you own Bitcoin than if you own dollars. Sometimes Bitcoin feels very valuable and sometimes you feel like dollars that you really want to hold onto. If you feel that dollar is what you really want to hold on to, you should probably buy Bitcoin. And if you feel that Bitcoin is something that you really want to hold onto, you should probably buy dollars. "
Draper purchased 29,656 bitcoins from the US Marshall Service in 2014 for approximately $ 18 million, which now has a value in excess of $ 117 million.
At the moment, Bitcoin has risen 0.54% to $ 3,961. Ethereum rose 0.40% to $ 135 and the XRP 0.35% to $ 0.3041.
Technical analysts expect Bitcoin's rigorous moves to hold around $ 4K while Ethereum, XRP and Litecoin struggle for traction.
NewsBTC – The Bitcoin price will not go quietly, the risk of breakage increases
Fxstreet – We are still waiting for a decisive breakthrough of over $ 4,000
Münzlautsprecher – BTC / USD consolidates, breakout is imminent
ETHNews – Danger if the price continues to struggle at $ 137.50 to $ 140
Crypto Potato – The ETH-side trade forms a triangle
Blockonomi -ETH price for many hurdles near $ 140
Live Bitcoin News – XRP signals a significant downtrend
Fxstreet – XRP follows a bearish trend line that was born on the 20th
NewsBTC – XRP sellers are still clearly responsible
In bitcoins – LTC is facing another potential downside
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