Bobby Lee, the co-founder of BTCChina, has made a Bitcoin forecast for 2021. His extremely bullish attitude was explained by Litecoin founder Charlie Lee’s brother on Twitter. How the price in the future should behave in his opinion, described Bobby Lee in several Twitter posts.
The next Bitcoin block-halving is scheduled for the end of 2020. As a result, miners will receive only half of the current block rewards. Again and again, such a Halving is interpreted as a bullish signal, because it comes to a kind of scarcity of Bitcoin.
Lee also explained the background to his way of thinking. He believes Bitcoin market capitalization will overtake gold. He believes Bitcoin is accepted by the public as a second gold, only in digital form.
According to Lee, the value of $333,000 is no coincidence, the market capitalization would rise to seven trillion US dollars. This would correspond to the entire gold deposit worldwide.
Be careful with price forecasts
However, this price forecast is to be treated with caution. In order to do this, no deeper knowledge is needed. Mathematical constructs from which reliable price forecasts can be derived do not exist. Therefore, Bobby Lee’s predictions are more than inspiration, rather than a realistic future scenario.
In addition, Lee seems to have recently corrected in a positive sense. Because Bobby Lee saw the Bitcoin a few months ago at the time of the upcoming Halvings at $60,000.
Author: Marko Vidrih