Oliver Isaacs, a bitcoin (BTC) price analyst, has stated he believes the price will hit $25,000 by the end of 2019, according to a report by The Independent.
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“There are multiple drivers behind the recent resurgence,” Isaacs stated.
“There are geopolitical, technological and regulatory drivers. The net effect of the trade war between the U.S. and China has led to the sudden interest in bitcoin as a hedge on investments.”
Billionaire tech investor, Tim Draper, takes this prediction even further, stated BTC will hit $250,000 by 2023.
“I think when you go to Starbucks to buy a cup of coffee, and you try to pay with dollars, they will laugh at you because you are not using bitcoin or other cryptocurrency,” stated Draper.
“It will be like the old lady paying out with pennies.”
When asked how much cryptocurrency Draper is currently HODLing, the billionaire responded: “a lot.”
Currently, the price of BTC is down 2.58% in the past 24 hours but is up +32.58% in the last 30 days.
The top cryptocurrency by market capitalization is trading at 7,858.17, at press time.