Bitcoin Will Soar to $250,000 in 2023, Says Billionaire Tim Draper

The rout of the cryptocurrency market in 2022 scared away individual investors. 

The latter had flooded the sector a year earlier in the midst of the crypto craze in the hope of making a quick buck. 

But the fall in prices of most cryptocurrencies and numerous scandals have crushed all these dreams. 

The crypto market has lost over $2.1 trillion from its all-time high of over $3 trillion reached in November 2021. This drop means that investors have seen the value of their portfolios melt away. For some individual investors, almost all of their savings have evaporated. 

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