Bobby Lee

Founder of BTCC.

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Bobby Lee Predicts $2.5K Bitcoin Price Bottom As 15-Month Lows Near

The Bitcoin price could “bottom” at $2500 in January 2019, BTCC co-founder Bobby Lee has forecast in his latest prediction which many traders already consider too optimistic. Lee: Bitcoin Price Under $2K ‘Very Surprising’ On the back of an ongoing social media poll involving almost 5000 participants, Lee, who is becoming increasingly known for his bullish price predictions, said “a lot of buy orders and support” would keep Bitcoin above $2000. “I’ll be very surprised if it ever hits $2,000 again,” he wrote December 8. I suspect there will be a lot of buy orders and support at both $3,000 and $2,500 mark. We will see! Despite a previous flurry of prophecies claiming the Bitcoin price would reverse its bear market to reach significant levels before the end of the year, markets have so far failed to do so. How Low Is Low Enough? The past week has seen the largest cryptocurrency fall to new lows not seen since September 2017, the current local ‘bottom’ appearing Friday at $3220. Now, attention is focusing on Bitcoin’s bear cycle having similar characteristics to its previous one, which Lee notes saw BTC/USD 00 drop 87 percent from $1200 to $150 between December 2013 and January 2015. “Now from Dec 2017 high of $20,000, going down 87% would take it to $2,500. So maybe bottom out in Jan 2019?” he quizzed his audience. Respondents appeared unconvinced. At press time, the most popular answer to the survey with 39 percent of votes claimed that Bitcoin would fall further and that this would last beyond next month. Through its current performance, the Bitcoin price is on the way to mimicking the ‘Outrageous Prediction’ made by pro-crypto Saxo Bank for 2018. At a time when crypto markets were all beating all-time highs, analysts at Saxo decided a joint effort from the Russian and Chinese governments would take Bitcoin down to just $1000. “After its spectacular peak in 2018, Bitcoin crashes and limps into 2019 close to its fundamental ‘production cost” of $1,000,’ they concluded. You can check out the latest Bitcoin price analysis from Bitcoinist here. Do you agree with Bobby Lee’s Bitcoin price prediction? Let us know in the comments below! Images courtesy of Shutterstock The post Bobby Lee Predicts $2.5K Bitcoin Price Bottom As 15-Month Lows Near appeared first on

Bitcoin Bull Bobby Lee Says BTC by Jan 2019 at $2,500 USD but by Dec 2021 at $333,000 USD

Bobby Lee seems to be very bullish about Bitcoin’s future. However, the market has been in a bear trend since the beginning of the year and it can reach a new bottom in the near future. Bobby Lee is the co-founder of BTC China, creator of BTCC Mobi and a recognized person in the cryptocurrency community. He has always been very positive about Bitcoin and virtual currencies and now he has made a very bullish prediction for the future of the virtual currency. On Twitter, Bobby Lee talked about the future of the space and has invited the community to answer a few questions about Bitcoin. He compared the current market crash with the downtrend that Bitcoin experienced back in 2013. At that time Bitcoin reached an all-time high of $1,200 and plummetted for the next 13 months over 87% and bottomed close to $150. At the same time, Bitcoin reached an all-time high in December 2017 of $20,000 and now it has plummetted around 80%. 13 months later would be January 2019 and the Bottom would be close to $2,500. He provided four different options for Twitter users to answer. He asked whether Bitcoin will bottom in 2019 or not and if it will reach $2,500 or not. 40% answered that it will go below $2,500. 27% said that it will reach $2,500 in January 2019. 20% selected the option that Bitcoin will bottom in January but it will not bottom around $2,500. The last answer was that Bitcoin will reach $2,500 but not in January 2019, having 13% of the votes. Although the virtual currency market is unpredictable and very volatile, Lee assumed that the same conditions are going to be applied to Bitcoin this year and the coming ones. In another tweet, Bobby Lee said that the next rally would start in late 2020 and peak out in December 2021 at $333,000, crashing after it back down to $41,000 in 2023. He then wrote that if the next Bitcoin rally in 2021 reaches $333,000, Bitcoin would have the same market capitalization as gold, close to $7 trillion dollars. One more coincidence: If the next #bitcoin rally (in 2021?) does indeed reach $333,000, that’ll bring Bitcoin’s price to roughly that of #Gold, at $7 trillion each!#BitcoinGoldFlippening — Bobby Lee (@bobbyclee) December 8, 2018 There were several users that answered Lee that the market would react in a different way since Bitcoin is not the same as it was back in 2013. Now there are Bitcoin futures and soon institutions will start entering the market and placing their funds in the space. According to CoinMarketCap, Bitcoin is currently being traded close to $3,410 and it has a market capitalization of $59.39. If it wants to achieve $333,000 it will have a lot of work to do in the coming months and years.
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Bitcoin [BTC] could rally upto $333k by December 2021, after reaching $2,500 in January 2019: Bobby Lee

Bobby Lee, the co-founder of BTC China and a prominent person in the crypto-community who has always been bullish on the cryptocurrency/blockchain aspects, tweeted on December 7, making a speculative prediction about the Bitcoin’s price and where it could bottom. Lee took into perspective the last three cycles of Bitcoin market and compared it to the current bear market that we are all in right now, where Bitcoin has lost 82% of its market cap since its all-time high in December 2017. The cryptocurrency market as a whole has lost ~$700 billion in market cap. Lee added a poll at the end of his tweet. Although the vote will last for two more days, 40% of the people who voted [~750] were convinced that Bitcoin would go lower than $2,500. Lee compared today’s bear market with the bear market that lasted between 2013 and 2015. Bitcoin, in December 2013 rallied to an all-time high of ~$1,200, and the prices from this point fell down to a low of ~$150, which is a percentage decrease of ~87%. Although the Bitcoin and cryptocurrency markets, in general, are very volatile and unpredictable, Lee assumed the same percentage drop for the bear market of 2018. Assuming that this bear market also slashes 87% off of the Bitcoin’s all-time high [i.e., $20,000], Bitcoin’s price at the end of this bear market should be around ~$2,500 range and should happen in the month of January 2019. According to Lee, if Bitcoin follows the same trend, Bitcoin’s bottom could be somewhere in the first month of next year. Lee follows up this tweet with another, predicting the next rally for Bitcoin, which according to him would go up to $333,000 in 2021 after starting the rally in late 2020. A Twitter user, Tommy Mustache replied with an infographic of major crashes of Bitcoin agreeing with Lee: “Bitcoin has survived 4 major crashes over 80% now. It will survive a few more in our lifetime because Bitcoin has 9 lives. It is the new monetary system created by the people for the people and there are over 30 million of us that believes in this new system right now. $BTC” Source: Twitter, by Tommy Mustache Another user, MatoshiSakamoto replied: “With institutions coming in 2019, the narrative is different, so I don’t see history repeating itself to the exact.” The post Bitcoin [BTC] could rally upto $333k by December 2021, after reaching $2,500 in January 2019: Bobby Lee appeared first on AMBCrypto.

Bitcoin would bottom out at $2500 in January 2019, betting $41000 by early 2023 says Bobby Lee

While many analysts predicted bitcoin price in late 2017 that its value would go beyond $25000 by end 2018, Bobee lee calculated its value in late 2018 and predicted to fall at the bottom of $2500. A co-founder and board member of BTCC Chinese crypto exchange, Bobby Lee predicts the price of Bitcoin in near future. His latest tweet states that he believes, if history repeats itself, the price of Bitcoin will reach the bottom of $2500 in next month 2019. He continued talking about the next rally which bitcoin price would join and states that it should peak out to $333000 in Dec 2021 and $41000 in Jan 2023. If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019. And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023. Something like that?🙂 — Bobby Lee (@bobbyclee) December 7, 2018 $17000 in 2017 and $3457 in 2018 At press time, Bitcoin is valued $3457.61 with the market cap $60,205,284,187 which was, however, trading with $17802.90 on the same day a year ago. Since late 2017, Bitcoin is struggling with the lowest price and finally led analysts to predict the nethermost value. Following his tweet, the major crypto enthusiast, Tommy Mustache responded the reason behind the crash and said: “Bitcoin has 9 lives”. He claimed that If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019. And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023. Something like that?🙂 — Bobby Lee (@bobbyclee) December 7, 2018 However, the latest prediction of Bobby Lee comes in follow up to his earlier tweet where he asked people about their opinion by creating a poll on twitter. He explained that the Bitcoin’s price of $1200 in December is dropped down to $150 in January 2015 and opened a poll, From then all-time high of USD $1,200 in Dec 2013, for next 13 months, #Bitcoin went down by over 87% to bottom out at just $150 in Jan 2015. Rock bottom! #AllHopeLost? Now from Dec 2017 high of $20,000, going down 87% would take it to $2,500. So maybe bottom out in Jan 2019? 🤔 — Bobby Lee (@bobbyclee) December 7, 2018 Imminent Bottom or Meteoric Rise? In contrast to lowest value prediction of Bobby Lee, yet another most prominent analyst and the co-founder of Fundstrat bets on a high volume of Bitcoin and believes that “bearish market needs patience”. He said that; “I think people need to be patient. But I think one of the most important things that we advise our clients is that crypto as an investment should really be 1 to 2% of their allocation, so that number one, they’re not worrying about it every day. But also, that 2% can become 50% in a decade. It can grow dramatically,” What do you think? whose prediction seems more practical – Bobby Lee or Tom Lee? The post Bitcoin would bottom out at $2500 in January 2019, betting $41000 by early 2023 says Bobby Lee appeared first on Coingape.
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Quotes, Week 23 ’18

Bobby Lee, Brad Garlinghouse, Robert Sluymer, Brian Stutland and Adena Friedman speaking on cryptocurrency and blockchain issues.

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Prosecutors Call for Ten Year Jail Term for Karpeles Over Mt. Gox Embezzlement

Mark Karpeles, the CEO of Mt Gox, is currently being accused of embezzlement by Japanese authorities. The prosecutors of the court case are seeking a 10-year sentence for the ex-CEO, which commanded the now-defunct Mt Gox exchange. This comes in the midst of the extension announced for civil rehabilitation claims. Japanese prosecutors say as much by alleging that Mark Karpeles's actions "played a great role in totally destroying the confidence of Bitcoin users. The actions in question are that he allegedly embezzled a total of 341 million yen (US$3 million) of customer funds from the Mt Gox account, moving it to his personal account between September and December 2013, while padding the numbers on his company's trading system to cover up the loss. Karpeles has sworn his innocence and says the money, moved in the last four months of 2013, was meant to serve as only a temporary loan. He also argued, earlier in the trial, that the funds in question did not belong to clients but were his now-defunct company’s revenue. In response to the former CEO’s statement, the prosecutors at the court said: There was no documentation of loans, and there was no intention of paying back the money. The prosecutors went further to demand a harsh sentence for Karpelès. According to the Japanese prosecutors, the Mt. Gox Chief betrayed his clients’ confidence and misused most of their funds. The ex-CEO is currently confined to Japan as a condition of his bail and has been answering in freedom. He has often protested his innocence and publicly appealed to the industry. It remains unknown when the trail will conclude, the publication added.

Tezos [XTZ] Story – XTZ and Waves Highest Gainers

As many crypto enthusiasts have started to notice, there is a slight attempt by the bulls to get Bitcoin – BTC against the US Dollar up back on its feet. Read: Bitcoin (BTC) Price Analysis: Are Bulls Back on Their Feet? Bitcoin bull Mike Novogratz insists that bitcoin won’t fall to the $80 level despite signs that the bear market could persist. In an interview with Bloomberg, he reiterated that bitcoin will become digital gold and that revolutions don’t happen overnight. If the supportive trend line starts to gain momentum and hold-off any waves of bears that tend to tank the value downward, a ripple-effect could present itself impacting all following altcoins as the pioneer cryptocoin always does. Among the top 20, the highest gainer in the last 24-hours without a doubt is Tezos [XTS]. Per time of writing, the pair XTS/USD is changing hands at $0.4197 – marking an increase of 13.23%. Source: coinmarketcap Tezos for starters – During one of the most successful and largest ICOs ever held – Tezos Foundation raised over $232 mil bringing a new cryptocurrency in the market. During a contact made by Reuters to the president of the foundation it was confirmed that its MainNet was set to launch on the 14th of Sep, 2018. #Breaking @millervalue #ValueInvesting #Crypto #Bitcoin #Cryptocurrency project #Tezos to launch main #network next week:… — John M. Spallanzani (@JohnSpall247) September 14, 2018 What is Tezos (XTZ)? Tezos is a decentralized computing platform for Turing-complete smart contracts. Tezos has three key features. (1) “Liquid Proof-of-Stake” consensus – there is a relatively low barrier to consensus participation and delegation is not required. (2) Smart contract verification – Tezos invented the Michelson programming language that allows formal proofs of contract properties for better contract security. (3) On-chain governance – all aspects of governance are contained in the platform: voting on proposed protocol upgrades, paying developers and implementing the upgrades. – Via Kraken’s blog post – Kraken Listing XTZ Blog Post Right on its tail is Waves which is welcoming a daily price hoist of 10.01% against the US Dollar reaching the mark of $1.85. Its beginning of December price surge as it seems is still continuing. The reason for this trend was the recent announcement of the release of a significant update to the mobile wallet. We are excited to announce a long-awaited update of the #Waves Mobile app! Deposit, store and withdraw your #crypto securely, trade your assets on DEX, lease your $WAVES — everything is now available right on your smartphone! Read more about it here: — Waves Platform (@wavesplatform) December 3, 2018 The post Tezos [XTZ] Story – XTZ and Waves Highest Gainers appeared first on Ethereum World News.
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