Massive printing of the dollar could send people to the cryptocurrency. Bitcoin prices may touch $250,000 by 2020. Currently, Bitcoin is trading a little higher after a $7,789 opening value. The price is $7,872.65 at the time of writing this article.
The trend is bearish while its volatility is expanding. A Bitcoin evangelist Tim Draper believes Bitcoin will hit $250,000 by the end of the year 2022.
That’s my prediction. Sticking with it. I’m very confident that that is going to happen. That’s happening. It’s kind of funny.
Tim Draper Doubles Down on His $250k BTC Prediction https://t.co/rh0evGAq9y pic.twitter.com/n5eq4ur314
— FXNews24.co.uk (@DavidGr52957428) 28 April 2020
Massive printing of the U.S dollar because of the Coronavirus stimulus package is the main reason behind this prediction. Many believe UD dollar value will likely go down and possibly divert people to crypto. This will increase the demand for Crypto resulting in its high price, a promise Bitcoin showed a few years back before its value dramatically dropped by the year-end.
Robert Kiyosaki, the famous author of the book “Rich Dad Poor Dad” have also voiced his opinion about USD dying. In many tweets, he has pointed out the importance of buying Bitcoin because USD may lose all its value in the near future.
WHY IS DOLLAR DYING? 2008 Fed printed $4.5 Trillion to save rich. 2020 Fed will have to print $6-8 Trillion, maybe more to save US economy. There is only $9.5 Trillion in gold in WHOLE WORLD. Buy real gold silver Bitcoin. No paper ETF gold or silver. PhDs at Fed are IDIOTS.
— therealkiyosaki (@theRealKiyosaki) 7 April 2020