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Bobby Lee seems to be very bullish on the future of Bitcoin. However, the market has experienced a bearish trend from the start of the year and can reach a new low in the near future. Bobby Lee is the co-founder of BTC China, creator of BTCC Mobi and a recognized person in the cryptocurrency community.
It has always been very positive about Bitcoin and virtual currencies and has now made a very bullish forecast for the future of virtual currency.
On Twitter, Bobby Lee talked about the future of space and invited the community to answer some questions about Bitcoin. He compared the current market crash with the downward trend Bitcoin experienced in 2013. At that time Bitcoin reached a record high of $ 1,200 and plunged for the next 13 months beyond 87% and touched a minimum close to $ 150.
At the same time, Bitcoin reached its all-time high of $ 20,000 in December 2017 and has now plummeted to around 80%. 13 months later it would be January 2019 and the Bottom would be close to $ 2,500.
He has provided four different options to which Twitter users can respond. He asked if Bitcoin it will end in 2019 or less and if it will reach $ 2,500 or less. 40% responded that it will go below $ 2,500. 27% said it will reach $ 2,500 in January 2019. 20% chose the option that Bitcoin will end in January but will not reach around $ 2,500. The last answer was that Bitcoin will reach $ 2,500 but not in January 2019, with 13% of the votes.
Although the virtual currency market is unpredictable and very volatile, Lee has speculated that the same conditions will be applied to Bitcoin this year and the next. In another tweet, Bobby Lee he said the next rally would start towards the end of 2020 and peak in December 2021 at $ 333,000, plunging back to $ 41,000 in 2023.
He then wrote that if the next Bitcoin rally in 2021 will reach $ 333,000, Bitcoin would have the same market capitalization of gold, close to $ 7 trillion.
Another coincidence: if the next #bitcoin rally (in 2021?) actually reaches $ 333,000, which will bring the price of Bitcoin to around that of #Gold, for $ 7 trillion each!#BitcoinGoldFlippening https://t.co/LNDayQIW2z
– Bobby Lee (@bobbyclee) December 8, 2018
There were several users who responded to Lee that the market would react differently since Bitcoin is not the same as that of 2013. Now there are Bitcoin futures and soon the institutions will start to enter the market and put the their funds in space.
According to CoinMarketCap, Bitcoin is currently traded near $ 3,410 and has a market capitalization of $ 59,39. If you want to reach $ 333,000 you will have a lot of work to do over the next few months and years.
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