Women Are The Key
It is no surprise that more women are moving into the market. Even though males still disproportionately dominate crypto investing, the number of women moving into the space has been on the rise, reaching as high as one in every three investors now being a woman. Nevertheless, there is still a long way to go when it comes to bringing more women into crypto and billionaire Tim Draper believes that they will drive the next bitcoin rally.Related Reading | Bitcoin Dominance Remains High As Market Sell-Offs Settle
BTC recovers above $30,000 | Source:Women, who only currently make up 30% of all crypto investors in the United States, are still yet to move into the market en masse compared to their male counterparts, who by comparison possess less retail purchasing power. The factors behind this disparity usually come down to the fact that males are said to be risk-takers compared to women. Hence, are more comfortable playing in a relatively new space with little to no regulation.
Driving Bitcoin To $250K
Draper’s analysis of more women moving into the market could mean that bitcoin will hit new all-time highs. He puts forward where he believes that the price of the digital asset may end up and that number came out to $250,000.Related Reading | Bearish Indicator: Is Bitcoin Headed For Its Ninth Red Weekly Close?
However, the billionaire explains another factor that will drive the price to this point. Alongside more adoption from women, he cites adoption from merchants who save more money when they accept bitcoin compared to credit cards.Featured image from Blockchain Journal, chart from TradingView.com
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