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Bobby Lee publishes Tweetstorm, tips for Crazy Bitcoin (BTC) Prediction
Through a series of tweets, starting a so-called "tweetstorm", Bobby Lee, co-founder of BTCC and brother of the creator of Litecoin, Charlie Lee, hinted at an extremely bullish forecast for Bitcoin (BTC). This tweetstorm, which began on Friday, saw Lee, a longtime supporter of cryptocurrency, propose hypothetical optimistic scenarios to his followers on social media.
Tracing demarcation lines between the decades-old Bitcoin history of turmoil, dismal bear markets and stunning parabolic rallies, the businessman crypto-centric claimed that if "history repeats itself [itself] perfectly, "BTC for the first time will find its true long-term fund by January 2019 and at $ 2,500, a further 30% fall from current prices ($ 3,600), somewhat echoing the comments made by its employees at work.
If history repeats itself perfectly, then the current bear market #Bitcoin the minimum would touch $ 2,500 next month, in January 2019.
And then the next rally would start towards the end of 2020, the peak in December 2021 to $ 333,000, and then collapsed back down to $ 41,000 in January 2023.
Something like that? 🙂 https://t.co/M8ljIVnt73– Bobby Lee (@bobbyclee) December 7, 2018
In Lee's speculative scenario, once BTC hits $ 2,500, popular digital assets will enter a stagnation phase, which could keep the encrypted markets in a seduced state until the end of 2020. By the end of 2020, a few months after the next Bitcoin Block Halving, the anti-traditionalist expects that the next monumental run of Crypto will begin to rot, and eventually undertake an unprecedented rally that will lead to BTC over $ 250,000 a piece, over 100 times the price that has touched. The prominent cryptocurrency player wrote:
[The next rally] it would have peaked at $ 333,000 in December 2021, and then returned to $ 41,000 in January 2023. Something like that?
In subsequent tweets, the BTCC co-founder further outlined the rationale behind this ambitious call, mainly referring to its expectation that Bitcoin's market capitalization will exceed that of gold in due course, as a result of the classification of BTC as the second coming of the aforementioned precious metal, but in a semblance of a digital.
Lee explained that if BTC wins $ 333,000 a piece, the market capitalization of the asset will reach $ 7 trillion, the all-time value of all gold on Earth. He wrote on the question:
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!
Although it would be difficult to state that this was an explicit prediction, considering Lee's earlier comments praising BTC and cryptocurrencies, it would be fair to assume that $ 333,000 / BTC is a logical possibility in his mind. However, it is interesting to note that Lee's most recent forecasts come only a few months after claiming that the next halving would only (relatively) send BTC above $ 60,000.
Not the most cryptic Crypto prediction …
While Lee's (ish) prediction is undoubtedly a little ridiculous, especially considering that cryptocurrencies still have a way to go, the Bitcoin Foundation board member is not the only industry expert to make claims so extravagant.
As previously reported by Ethereum World News, John McAfee, the eccentric multi-millionaire who founded McAfee Software and a long-standing zealous anti-government figure, told CoinTelegraph that the bear market was not annoying, like the The fundamentals of the Bitcoin network allude to the fact that the true value of BTC is still "tremendously escalating".
He explained that if "we keep track of the usage curve [of Bitcoin], "$ 1 million for BTC by 2020 (its original forecast) is prudent, adding that eventually, BTC will be assessed by its use, not by speculative factors and investors.
Title Image Courtesy of Brian Garcia Via Unsplash
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