Benjamin Cowen Disputes Tim Draper’s $250k Bitcoin Prediction Says $100K Next Year Is More Likely

Benjamin Cowen Says it is simply not possible for Bitcoin to reach $250K in 18 months.

During a recent interview, Benjamin Cowen, a major member of the cryptocurrency trading community, Crypto Quant Analyst, and Founder & CEO at Into The Cryptoverse, was asked about his opinion on venture investor Tim Draper’s forecast that the price of bitcoin would reach $250k in 2023.

Tim Draper, an investor in venture capital, predicted at the end of the previous month that the price of Bitcoin would reach $250,000 next year. According to Cowen, he does not anticipate that the price of BTC will reach six figures during the next 18 months.

He said: “Once upon a time, I would have liked to believe that 2023 would have been the year where we hit those, maybe $250,000 was always going to be too high, I was thinking more $100,000 or something by 2023.”

According to Cowen, even if individual investors suddenly become very optimistic about Bitcoin, it is still not possible that this will be enough to drive the price of Bitcoin to $250,000 by the same time next year.

He proceeded to say that the general retail attitude still has to be very strong in order for risk assets such as Bitcoin to eventually reach $100,000 in value. He went on to remark that he has a hard time seeing a scenario in which we would reach a quarter of a million dollars in the next year, particularly given the current climate of rising inflation.

We may go back to the 1940s and the 1970s, which represent the second peaks of high inflation, and see that the stock market fared rather well throughout those decades. Nevertheless, the stock market continued to fall until inflation reached its highest point during the first peak.

However, he did say: “One thing that will possibly likely happen, and I don’t know exactly when is that the women will start using Bitcoin. It was one in 14 Bitcoin holders were women. And now it’s something like one in six. And I think it will eventually be even.”

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