Legendary venture capitalist Tim Draper made waves in the crypto community when he predicted Bitcoin would fly to $250,000 by the end of 2022 during a CNBC interview in June 2021. With Bitcoin currently trading at around $30,000, moving in a band between $28,000 and $31,000, the end of Q2 is in sight. Many believed Tim Draper would have tried to downplay his earlier bold claim. But Tim Draper has come out and doubled down on his claim.
Bitcoin (BTC): Why Is Tim Draper So Bullish?
Bitcoin reached a new All-Time High (ATH) in November 2021, shooting to $69,000. Since then, Bitcoin has continued a slide downwards, save for a brief rally in March which turned out to be a false breakout. Bitcoin has been in a bearish trend for months.
Inflation continues to climb across Europe and in the United States. Jerome Powell and the FED continue to raise rates, but engaging in quantitative tightening with the amount of raw debt in the system seems an impossible task. The dollar’s value has crumbled in the past century, and now ordinary consumers pay the price for the money printing spree during COVID. The dollar has devalued, and people are desperately searching for an alternative.
Bitcoin offers the best hedge against inflation. Due to Bitcoin’s scarcity, with the supply capped at 21,000,000, its value will naturally appreciate over time. Bitcoin gives people an alternative store of value and is becoming more and more mainstream.
Will Tim Draper’s prediction come to pass? People who have been in the crypto space a few years will always remark on how quickly Bitcoin can move in either direction when it wants to.
Gnox Token (GNOX): Will It Be Able to Redefine the DeFi Space?
Gnox is a protocol with DeFi clearly in its sights. Slated to launch at the end of Q2 2022, Gnox is a protocol that will offer yield farming as a service. Gnox is the first protocol to provide this service and has plans to revolutionize the way investors interact with the DeFi space.
The protocol features a treasury custom-built for the benefit of token holders. The treasury is funded through buy and sell taxes on every token transaction. Then it is deployed in DeFi protocols to generate yield. This yield is reflected in stablecoin to token holders every 30 days, and with the principal of the treasury never being touched, only the proceeds, the Gnox protocol seems hard built to favor long-term investors looking to generate passive income.
Gnox token holders will be exposed to DeFi by virtue of owning tokens, and the protocol will make DeFi investment available to all and eliminate the current technical hurdles. In its presale phase, early investors wait eagerly to see how the token will perform.
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