Bitcoin will be everywhere in two years time - Tim Draper

Bitcoin will replace fiat money as the primary means of payment in the nearest future.
BTC/USD is rangebound under $4,000.

Tanya Abrosimova Independent Analyst

A famous cryptocurrency enthusiast and billionaire Tim Draper believes that Bitcoin will be everywhere just in two years, while fiat currencies will become archaic.

“Over time, when they start taking bitcoin, I’m going to be pretty much moving everything [out of the banks]. There is no reason to hold on to shells, when you’ve got gold,” he said in the interview with FOX Business.

He is sure that the mass adoption will be driven by general public, because people will realize the benefits of decentralized money.

Reacting to JP Morgan’s decision to issue its own coin, Mr. Draper’s said that it was a great news for the industry as it has a potential to draw attention to the cryptocurrnencies in general.

“Not many bitcoin knockoffs have worked particularly well, but they all add to the interest in bitcoin,” he explained.

Meanwhile, some experts, including the CEO of Ripple Brad Garlinghouse, lambasted JPM Coin as a fake cryptocurrency as it is supposed to be used only for the internal needs of the bank. Moreover, it is not public and its main aim is to raise efficiency of the bank’s operations.

While cryptocurrency gurus debate about Bitcoin’s future, the coin is changing hands at $3,890, gaining less than 1% since this time on Tuesday. BTC/USD has been rising since the start of the week amid improved sentiments, supported by technical factors. The next important after $4,000 barrier lies at $4,300, and as soon as it is cleared, $5,000 will become a possibility.

BTC/USD, 1D chart

Author

Tanya Abrosimova

Independent Analyst

XRP extends recovery as on-chain activity grows

Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).

Ethereum Price Forecast: ETH continues July uptrend with 20% rise after triggering buy signal

Ethereum (ETH) has gained 3% on Tuesday, extending its July gains above 20% after key on-chain indicators highlighted a resumption of buying activity. The strong performance so far in July comes a few days after ETH triggered the Market Value to Realized Value (MVRV) Buy signal. ETH has been up by roughly 22% since the signal.

Chainlink becomes top 20 best performer, 3 reasons behind the move

Chainlink (LINK) has become the best-performing asset in the top 20 this week, leading every other major cryptocurrency. The cryptocurrency jumped 10.18% to $8.71, its highest level since early June. Three major factors explain the double-digit rise over the past week.

Crypto Today: Bitcoin, Ethereum, XRP extend rebound amid returning institutional capital inflows

Cryptocurrency prices extend a broad recovery, led by Bitcoin (BTC), trading above $66,000 at the time of writing on Tuesday. Ethereum (ETH) remains bullish above $1,940, after logging four straight days of gains. Meanwhile, Ripple (XRP) hovers around $1.13, building on the reclaimed $1.10 critical level.

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.