Co-founder and former CEO of the oldest Chinese crypto currency exchange BTCC Bobby Lee is convinced that in the coming years, the price of bitcoin will win $60 000, with capitalization of the first cryptocurrency to reach $1 trillion.
When #Bitcoin passes the $60,000 price level in the coming years, it’ll reach a total circulation value of $1 Trillion. That will be a huge #milestone for $BTC, and it’ll lead to more price stability, higher global liquidity, and even faster adoption worldwide. #VirtuousCycle
— Bobby Lee (@bobbyclee) 24 August 2018 R.
“When in the next few years bitcoin will overcome the level of $60 000, the total value of cryptocurrencies in circulation will reach $1 trillion. This will be a great achievement for bitcoin and will lead to stabilizing prices, will increase global liquidity and will contribute to a more rapid adoption on a global level”, — shared his thoughts Bobby Lee.
Forecast If based on his study of the situation in the mining industry. So, the investor notes that as expected in the spring of 2020 “halving” the rate of emission BTC will be reduced to 900 coins per day.
After next #BlockRewardHalving in Spring of 2020, the new #Bitcoin output will drop again to just 900 BTC/day.
I predict #HashPower will continue to grow, with ever higher amounts of investment in mining (electricity costs).
If that amount reaches $54m/day, we’ll have $BTC at $60k.
— Bobby Lee (@bobbyclee) 25 August 2018 R.
Thus, Hasrat network of bitcoin will continue to grow, as well as the volume of investments in mining, including the cost of electricity. When daily cumulative cost will reach $54 million, the price of BTC will reach $60 000.
In addition, Lee compared bitcoin mining with the mining industry:
#BitcoinMining industry is at just $12 million/day, compared to $335m/day for #GoldMining industry.
I predict #hashpower will continue to grow for #Bitcoin with daily $ numbers increasing.
Once global daily output reaches $54m in 2+ years, that would give $a BTC price of $60,000.
— Bobby Lee (@bobbyclee) 26 August 2018 R.
“The industry of bitcoin mining generates only $12 million per day compared to $335 million in gold mining industry. I assume that the hash-power of bitcoin will continue to grow, as well as the generated value. About two years later, the global impact of mining will total $54 million, and the price, in turn, will reach $60 000”.
Earlier, the co-founder of Fundstrat Global Advisors Tom Lee expressed the opinion that by the end of the year the bitcoin price will reach $22 000.