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Cryptocurrencies have kept a relatively low profile in 2019 following a record-breaking rise in 2017 and then a spectacular crash in 2018. Are they worth revisiting in 2020? We asked these experts and Advisors in The Oracles to share where they think crypto is headed next.
EDITOR’S NOTE: This article expresses the views and opinions of individuals and is not a substitute for professional financial advice. Do your own research and consult your own financial adviser. Any claims in this article have not been independently verified.
1. Cryptocurrency will transform banking.
The world is getting ready for a financial and banking transformation. Engineers and product developers have been hard at work getting products together to bring Bitcoin to general use and distribution. In a year, there will be no reason to pay banks 2.5 percent to 4 percent every time you swipe your credit card. Bitcoin is a frictionless transaction. As it and other tokens like Tezos, Ethereum, and Bitcoin Cash become more prevalent, their value will increase. I predict a $250,000 Bitcoin price by 2022 or the first quarter of 2023. —Tim Draper, legendary VC, founder of Draper Associates and DFJ, and author of “How to Be the Startup Hero”
2. It’s excellent, long term.
Whether you invest in crypto now should depend on whether you believe in the potential of blockchain technology. Yes, it didn’t live up to everyone’s expectations right away, but that’s also happened with basically every other disruptive technology….