Tim Draper Says Some Bitcoin Investors Are ‘Making a Mistake’ – BTC, XRP, Ethereum, Litecoin Price Analysis

Billionaire venture capitalist Tim Draper says anyone speculating on Bitcoin in the short term may want to reconsider.

In a new ask-me-anything on Facebook, Draper explains why he doesn’t make short-term predictions on the price of BTC.

“I never make Bitcoin predictions in the short term because, short term, anything can happen. People can manipulate the price. It moves up, moves down depending on big customers coming in to buy or big owners coming in to sell. It will move up and down, and if you’re investing in the short term you’re making a mistake.

Bitcoin is a long-term hold because what it is, is the future of currency. And the currency is going to be decentralized and open, and you’re going to end up with a much more fluid and dynamic currency if you own Bitcoin than if you own dollars. And sometimes Bitcoin’s going to feel very valuable and sometimes you’re going to feel like dollars are what you really want to hold onto. When you feel like dollars are what you really want to hold onto, you should probably buy Bitcoin. And when you feel like Bitcoin is something that you really want to hold onto, you should probably buy dollars.”

Draper bought 29,656 Bitcoin from the US Marshall Service in 2014 for about $18 million, which is now worth more than $117 million.

Right now, Bitcoin is up 0.54% at $3,961. Ethereum is up 0.40% at $135, and XRP is up 0.35% at $0.3041.

Source: Coin360

Technical analysts expect Bitcoin’s tight movements around $4K to continue as Ethereum, XRP and Litecoin fight to gain traction.

Bitcoin

  1. NewsBTC – Bitcoin price won’t go quietly, risk of break grows
  2. FXStreet – Still waiting for a decisive breakthrough above $4,000
  3. Coinspeaker – BTC/USD consolidates, breakout is imminent

Ethereum

  1. ETHNews – Danger if price continues to struggle at $137.50 to $140
  2. CryptoPotatoETH sideways trading is forming a triangle
  3. Blockonomi –ETH price facing a lot of hurdles near $140

XRP

  1. Live Bitcoin NewsXRP signaling significant bearish break
  2. FXStreet – XRP following a bearish trend line that was born on the 20th
  3. NewsBTC – XRP sellers are still clearly in charge

Litecoin

  1. Inside Bitcoins – LTC facing another potential move to the downside

The views and opinions expressed in this article Tim Draper Says Some Bitcoin Investors Are ‘Making a Mistake’ – BTC, XRP, Ethereum, Litecoin Price Analysis do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research. In rounding off this piece Tim Draper Says Some Bitcoin Investors Are ‘Making a Mistake’ – BTC, XRP, Ethereum, Litecoin Price Analysis, here’re the Top prominent words: Bitcoin Investors. BTC XRP Ethereum. BTC XRP Ethereum Litecoin. BTC XRP Ethereum Litecoin Price. Ethereum Litecoin Price. Ethereum Litecoin Price Analysis. Feel Like Dollars. Litecoin Price Analysis. Making A Mistake. Making A Mistake BTC. Making A Mistake BTC XRP. Mistake BTC XRP. Mistake BTC XRP Ethereum. Mistake BTC XRP Ethereum Litecoin. XRP Ethereum Litecoin. XRP Ethereum Litecoin Price. XRP Ethereum Litecoin Price Analysis.

Aren’t You Curious How’s Your Favorite Cryptocurrency Performing Today on October 22, 2020?

Check out 48coins price analysis category on 48coins. Explore price predictions from all industry experts. Select your favorite cryptocurrency for more data, such as crypto exchanges, historical data, charts, FIAT converter, social hype and much more!

Real Time Data at Your Fingertips
#CoinPricePrice Graph (7D)
1$ 12,855.30
2$ 411.38
3$ 0.998485
4$ 0.259907
5$ 270.98
6$ 30.94
7$ 11.44
8$ 4.27
9$ 54.92
10$ 0.109060

Leave a Reply