Venture crypto enthusiast said that the main crypto coin will rise tenfold

Venture investor Tim Draper believes that in 2023 the price of bitcoin will increase tenfold and reach $250,000. Amid the current bearish trend and turmoil due to the collapse of FTX, the businessman insists on his previous forecast for BTC to rise.

According to Draper, FTX is in no way related to the state of the first crypto coin, and the bankruptcy of the project does not affect the achievement of the level announced by the investor.

“I am not changing my forecast. Still waiting for $250,000 early next year. FTX has always been a centralized platform, with a single founder. When a currency, asset or business is centralized, they have a single point of failure and can be manipulated. I think the collapse of the exchange will attract even more people to bitcoin. They will understand that any centralized system is unsafe, works with fiat money or cryptocurrencies,” the entrepreneur said.

According to him, the crisis in the crypto market has demonstrated the need for real decentralization of both digital currencies and trading platforms. And just BTC is a truly decentralized system. Tim Draper also noted that investors do not need to trust their assets to centralized projects and wallets.

And top managers of cryptocurrency companies believe that the bitcoin rate may collapse, up to a complete depreciation. This is stated in a study by BDC Consulting among more than 50 project managers from different industries.

On average, survey participants expect bitcoin to stop falling at $11,479. More than 90% of respondents believe that the collapse of FTX will not affect the peg of stablecoins to the US dollar.

The study also showed that more than 50% of top managers intend to increase investments in digital currencies and do not want to reduce them. About 65% can expand the portfolio before the end of the year.

Do you think the crypto market will recover soon?