Bobby Lee: Bitcoin will cost $500,000 in 9 years and surpass gold capitalization

Bobby Lee: Bitcoin will cost $500,000 in 9 years and surpass gold capitalization

Analytics
November 11, 2019 by cryptorolling.com
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Bobby Lee, co-founder and former CEO of BTCC's oldest Chinese crypto exchange, is confident that by 2028 the Bitcoin price will reach $500,000.
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“Today, the gold market is $8 trillion, which is 50 times the value of Bitcoin. I predict that flip-flopping will take place within 9 years and BTC will rise above $500,000. Given the global scale of money printing that is taking place today, the BTC price is likely to exceed $1 million.

The basis of Lee’s forecast is the deficit character of Bitcoin, which suggests an inevitable increase in the price of the asset.

“Bitcoin was designed to be super valuable over time. In the first 10 years there were only two half awards for the block, but in the next 10 years there will be three (50% more)! By 2020, the daily emission will be only about ~255 BTC, annual inflation will be less than 0.5%. Less than gold!”

It is obvious that Bobby Lee’s hypothesis is in harmony with the models of Saifedean Ammous and the popular analyst Plan B, based on the ratio of reserves and growth, according to which halving inevitably leads to an increase in the price of BTC.

Let’s remind, analysts of German bank BayernLB have suggested that after halving expected in May, 2020 the price of Bitcoin will reach $90 000.

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