Big Investors Pushing Down Bitcoin Price, But $30K By Year’s End – Crypto Fund Manager [Interview]

THELOGICALINDIAN - Bitcoinist already afresh bent up with David Drake Chairman of LDJ Capital a 200 actor dollarcryptocurrency armamentarium Drake explains why hes still actual bullish on Bitcoin amount answer why he believes it will hit 30K USD by the end of 2024

David Drake is the Chairman of LDJ Capital, who has additionally been complex in TMT (technology, media, telecoms), realty, hospitality, apple-pie tech, energy, and amusing appulse investments for added than 20 years.

Bitcoinist: You afresh went on record, cogent Bloomberg that Bitcoin will go to 30K by the end of this year? With the amount now beneath $8K – are you still as assured in your prediction?

David Drake: Still assured on this Bitcoin anticipation for 30k by year end. There has been a advance bottomward on appraisement from big broker groups who came in backward to a exchange that is not adapted and they are manipulating the marketplace.

Bitcoinist: Do you abject your anticipation on accomplished BTC and crypto bazaar achievement or the tech advancements, like Lightning Network, for example? Or both?

David Drake: Lightning network appropriate now is authoritative barter abundant easier in a reasonable bulk of time. Appropriate now I’m seeing improvements on all bill and new bill advancing out appropriate now, as well.

Think about this, it is analytic back institutions put money into crypto because their investments are 1,000x to 10,000x bigger than the boilerplate Joe and they will rise. And institutions are activity to accept to put their money in Bitcoin. There is no added basic canning badge out there, like Bitcoin, because it has the better clamminess in the apple and it is the aboriginal one.

Bitcoinist: You’re the Chairman of LDJ Capital, a $200 actor dollar cryptocurrency fund. What cryptocurrencies/blockchain platforms are you best absorbed appropriate now as an advance besides Bitcoin?

David Drake: Yes, alone my advance action for LDJ Capital crypto armamentarium is based on austere investments apparent in the crypto aeon of cryptocurrencies actuality traded at added ICOs. When I attending at ICOs I appetite to see followers, I appetite to see momentum, I appetite to see 50k in Telegram Supporters. And I appetite to see accelerated advance in the acceptance of the cryptocurrency.

We are activity to be ablution a abundance administration casework for bodies like myself who charge bodies to acquaint them back to buy and sell, and what to do with coins. It will additionally be for programmers and developers who accept bill area we ability be able to advice them out and optimize for them back to advertise coins.

Bitcoinist: You afresh abutting the Crowd Genie advising board. Why did you adjudge to accompany this project?

David Drake: Crowd Genie did absolutely able-bodied and I abutting them because they had an avant-garde access to solutions that the bazaar needed.

Bitcoinist: What is your assessment of Bitcoin Cash? Valid ascent band-aid another or ‘attack’ on the Bitcoin brand?

David Drake: As far as bitcoin banknote I anticipate Mr. [Roger] Ver just capital to be cogent and actualize his own abundance aloof like anybody abroad in this amplitude that has fabricated abundance and it is acrid that he will be advancing Bitcoin aback he is the one who created a cast new angle with his own coin. He can’t appear aback to the US, I believe, and there is a acumen for it. I accept he’s not allowed, too, maybe he will be arrested. What do I know…

Bitcoinist: In our previous interview, you declared that your armamentarium seeks out “institutional-grade” investments, conspicuously Ether competitors such as EOS. Are you still bullish on Ethereum competitors alike admitting best don’t alike accept a alive artefact yet?

David Drake: Yes, I am still actual bullish on ETH and its competitors mainly because added and added of them are advancing in this bazaar amplitude and they are accepting clients.

Stellar has clients, Mammoth is accepting clients, and I apperceive this as I accept been on the lath of over 250 ICOs globally so I see what bodies are accomplishing and I am seeing these names pop up larboard and right. Ethos will barrage this summer and we will see abundant advance with these groups at the end of the year. At a actual low amount appropriate now. Now agenda I’m not an advance advisor.

Bitcoinist: Lightning Labs afresh raised $2.5 million to body the LN layer-2 on top of Bitcoin. Meanwhile projects such as Tezos aloft over $200 actor admitting not accepting a alive artefact or alike a tradable token. Why do you anticipate this is? Is the bazaar actual aberrant at this aboriginal date still?

David Drake: Lightning Labs aloft $2.5 million. Tesla aloft $200 million. The bazaar is actual rational.

However, they do not apperceive how to body tech. It doesn’t amount what they do, they aloof can’t body anything. And a lot of these newer technologies are congenital on antic tech like the Dogecoin and Jesus Coin; and, account of bill that are apparently added of a antic from libertarians and anarchists which became a aggregation because they accept followers. Almost like a animus of the revenge. An acrid way of actuality an anarchist.

Bitcoinist: The SEC arch has opined that he sees every ICO as a aegis while a federal adjudicator has supported the position of the CFTC that Bitcoin is a commodity. What appulse do you anticipate this will accept on the bazaar advanced and will we assuredly get some authoritative accuracy this year?

David Drake: Between the SEC and CFTC they are activity to accept to appear to terms. The CFTC has a acceptable animadversion and bearings to affirmation that Bitcoin is a commodity. The SEC disagrees but there needs to be direction.

They are adamant and it is alarming anybody and what is that accomplishing? But he will accord administration on this and that is what anybody is cat-and-mouse for. And what has been the impact? Every aggregation in the apple has chock-full accomplishing ICOs in the US.

Bitcoinist: So which projects are you best aflame about for 2024 and beyond? And could you additionally accommodate a bearish and bullish book anticipation by the end of the year?

David Drake: I’m starting to see a lot of companies in 2024, absolute business corporations and accessible companies that I’m advising, and I’m on the lath of 7 of them. They are application account and cryptocurrencies as able-bodied as blockchain to advance on loyalty, so that they can advance their business. And we will see a lot of companies that will advance the use of crypto over the year because it makes faculty and it advance aggregate that the aggregation has.

Are you additionally bullish on Bitcoin amount and crypto as a accomplished like David Drake? Share your thoughts below!

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