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Jack Dorsey of Twitter and Square Crypto is working to solve the Bitcoin scalability problem.
A multi-trillion-dollar market cap could be at stake.
Tim Draper has not backed off his Bitcoin prediction that the BTC price will skyrocket to $250,000 in 2023.
The venture capitalist who invested in Skype, Tesla, and SpaceX believes that key improvements happening on the Bitcoin network will catalyze the surge in valuation.
Developments such as the Open Node and Lightning Network are helping Bitcoin’s cause.
Nevertheless, Draper believes that more engineering needs to be done so that the number one Crypto can become a widely-used currency.
Fortunately, Jack Dorsey is hard at work to help create the infrastructure so that Bitcoin (BTC) can become the “native currency” of the internet.
Draper believes that the Bitcoin price can get to $250,000 if people start using it for day-to-day payments.
Currently, the top cryptocurrency is having a huge problem with scaling.
It can only process seven transactions per second.
This means when buying coffee, it will get cold before the merchant receives payment.
The good news is that Twitter and Square CEO Jack Dorsey is developing solutions to supercharge Bitcoin’s throughput.
Earlier this month, Square Crypto announced that its team is developing a Lightning Development Kit (LDK).
Bitcoin Price Indicator That Called 2019 Bull Run Flashes Green Again Leading the positive signs is a useful but somewhat forgotten indicator dubbed the Guppy.
This is a collection of exponential moving averages which has flashed green on the daily chart for the first time in around 300 days.
The interval is significant – the last flip from red to green for Guppy was on April 9, 2019, coinciding with Bitcoin’s rapid rise to highs of $13,800.
Before that, Guppy also turned bullish on Jan. 14, 2018, when Bitcoin briefly rose above $9,000 on the way down from the all-time high a month earlier.
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