The co-founder of BTCC, Bobby Lee, gave hint at a very bullish prediction for BTC via a series of tweet. Lee who is a long-time cryptocurrency proponent created positive hypothetical scenarios to his followers.
According to Lee, if “history repeats (itself) perfectly,” by January 2019, bitcoin will first find its real long-term bottom at $2,500, with a 30% drop from current prices ($3,600).
In his speculation, immediately BTC bottoms at $2,500, the well-known digital asset will enter a lull, this might make the cryptocurrency markets be in a seduced state until late 2020.
Bobby Lee further explained the idea behind this call, making reference majorly to his expectation that Bitcoin’s market capitalization will exceed that of gold very soon, due to the classification of BTC as the second coming of gold, but in a digital version.
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The BTCC co-founder explained that BTC’s market capitalization will get to $7 trillion (the assumed value of all gold on earth), if it goes for $333,000 per piece.
This is not the craziest cryptocurrency prediction
Despite the fact that Lee’s prediction is undoubtedly ludicrous, the Bitcoin co-founder is not the only one to predict such enormous value.
According to the previous report made by Ethereum World News, John McAfee, the founder of McAfee Software told CoinTelegraph that the bear market has not been irksome, as the basis of Bitcoin Network are alluding as a result of the true value of BTC still “escalating tremendously.”