Billionaire Draper Mocks Bitcoin Sellers: 'They Must Want to Be Minnows'
Legendary venture capitalist Tim Draper mocked Bitcoin sellers following a recent correction, with Bitcoin dropping to $101,411, its lowest in four months and now down 19.7% from its October all-time high of $126,080. Draper's $250,000 price prediction for Bitcoin this year seems unlikely, with Polymarket bettors estimating just a 1% chance of it reaching the target.
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Tim Draper's Reaction to Bitcoin Correction
Legendary venture capitalist Tim Draper has already reacted to the most recent Bitcoin correction, mocking those who are selling their coins. "I hear some whales are selling. They must want to be minnows," Draper said, implying that selling Bitcoin during a downturn might not be the smartest decision.
Bitcoin's Significant Price Drop
Earlier this Thursday, the leading cryptocurrency by market cap plunged to just $101,411, reaching its lowest level in roughly four months. Bitcoin is now down 19.7% from its all-time high of $126,080 that was logged on Oct. 6. With this sharp decline, the cryptocurrency has entered technical correction territory.
Draper's Bold $250,000 Prediction
Tim Draper has long predicted that Bitcoin might finally reach its oft-repeated $250,000 price target this year. However, the uber-bullish target now appears increasingly out of reach as Bitcoin continues to struggle with its recent price corrections.
Odds of Draper's Prediction
According to Polymarket bettors, Bitcoin has just a 1% chance of hitting $250,000 this year. This statistic underscores the skepticism surrounding Draper's ambitious forecast, especially in light of Bitcoin's recent downward trend.