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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 Bitcoinist.com.
Bitcoinist

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 https://t.co/LNDayQIW2z — 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.
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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?🙂 https://t.co/M8ljIVnt73 — 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?🙂 https://t.co/M8ljIVnt73 — 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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Bobby Lee, Brad Garlinghouse, Robert Sluymer, Brian Stutland and Adena Friedman speaking on cryptocurrency and blockchain issues.

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Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto?

While Elon Musk has yet to formally delve into the Bitcoin space, he has long been a fabled member of the crypto community. Since finding his way to the headlines of the world’s media, the Tesla chief executive’s pro-innovation mindset has struck a chord with many enamored with cryptocurrencies. In fact, some say that Musk’s unsaid raison d’etre of bettering society at large, especially by amending the world’s most harrowing issues (climate change, confinement on Earth, financial inequality), lines up with the goals held by many cryptocurrency insiders. Thus, some have even argued that Musk could be Satoshi Nakamoto. Sahil Gupta, a former intern at Musk’s second multi-billion dollar enterprise SpaceX, once infamously claimed that Musk’s brief mentionings of cryptography, economics, the C++ computing language, along with the entrepreneur overarching vision scream Satoshi. The South African-Canadian entrepreneur has done his best to keep his mouth zipped regarding his candidacy for the Satoshi title, but that hasn’t stopped him from talking about cryptocurrencies. We had @elonmusk on the latest episode of @ARKInvest's podcast! He had a few things to say about Bitcoin. "Paper money is going away and cryptocurrency is a far better way to transfer value than pieces of paper." – Elon Muskhttps://t.co/U5qOnM7nBo — Yassine Elmandjra (@yassineARK) February 19, 2019 Bitcoin Is “Quite Brilliant” While the crypto market has remained in a depressed state, save for Monday’s jaw-dropping rally, stars have begun to descend on this industry. Weeks ago, NewsBTC reported that a mass of celebrities, including the Spice Girl’s Mel B, Johnny Depp, Madonna, and Lionel Messi, had some involvement in cryptocurrency. More recently, Jack Dorsey of both Twitter and Square took to Joe Rogan to claim that the native currency of the Internet is likely to be Bitcoin. Related Reading: Twitter CEO Loves Lightning on Bitcoin: is it the Future of Fast, Instant Payments? And just on Tuesday, Elon Musk, the most well-known Silicon Valley guru, took to the New York-based ARK Invest’s “FYI” Podcast to touch on Tesla’s plans, autonomy, other innovations, such as crypto. Per The Block, who compiled his comments regarding cryptocurrencies, Musk made his comments with explicitly bullish tones. After discussing Tesla’s most recent advancements, the hosts of the podcast, the CEO and an analyst at ARK, a disruptive innovation-centric investment group, took a brief aside. They asked Musk if he agrees with Dorsey’s recent comments on Bitcoin and cryptocurrencies at large. Interestingly, Musk responded with an answer, albeit somewhat cursory. He tacitly agreed, noting that the “Bitcoin structure was (is) quite brilliant,” adding that Ethereum and “maybe some of the others” have merit too. Musk did admit that he isn’t too enamored with Bitcoin’s Proof of Work (PoW) consensus mechanism, noting that it is energy intensive. Yet, he explained that fundamentally, crypto assets are great as they bypass currency controls, especially in nations embroiled in financial and political turmoil, like Venezuela. He added that cryptocurrencies are also a “far better way to transfer value than pieces of paper,” subsequently quipping that he’s sure of this “without a doubt.” In spite of all this, he made it clear that Tesla isn’t going to foray into the crypto space in any capacity, noting that it would be a good use of his firm’s resources to prop up an offering. Musk’s abrash comments quickly elicited responses from each and every corner of the crypto space. Matt Odell, a long-time pro-Bitcoin coder and industry personality, joked that the comments “confirmed” his bias that cryptocurrencies could oust banknotes. Changpeng “CZ” Zhao of Binance noted that eventually, “[Musk] will join the brotherhood,” adding that he is unequivocally sure that the businessman will take up a crypto mantle. CZ notably called on the Tesla founder to take up the Lightning Network Trust Chain torch last week, just days after Twitter’s Dorsey openly lauded Bitcoin in dozens of tweets. Crypto Is Better Than Banknotes? While Musk made notable acknowledgments in his brief appearance on ARK’s “FYI,” what stood out to many crypto investors was his thoughts on the dichotomy between banknotes & physical cash, and crypto assets, not centralized e-money. For a brief recap, Musk simply stated that he is unequivocally sure that crypto, whether it be Bitcoin, Ethereum, or otherwise, is a “far better” medium of exchange than pieces of paper. Shocking, right? This may be deemed hearsay by pundits of the legacy world, but the world is already adopting digital mediums of exchange. Per previous reports from this outlet, Arthur Hayes of BitMEX took to his company blog to claim that platforms like WeChat Pay and AliPay have already begun to take over China’s financial system. Who’s to say that cryptocurrencies, a decentralized counterpart to these systems that tout their own currencies, cannot have a similar impact on society at large. The fact of the matter is that these digital payments systems, whether decentralized or centralized, offer benefits that cash/plastic cannot. Case in point, payments on both Bitcoin and WeChat Pay are cheap, rapid, and relatively secure. But arguably, decentralized payment ecosystems, which are non-sovereign, private, immutable, and non-censorable, are even better than their centralized peers, which is likely what Musk was touching on. Featured Image from Shutterstock Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? was last modified: February 20th, 2019 by Nick ChongThe post Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? appeared first on NewsBTC.
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In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange

In this edition of The Daily we cover some largely supportive remarks the famous entrepreneur Elon Musk has made about Bitcoin, the latest academic institution to launch a blockchain R&D center, and a new offering from Malta-based exchange Xdat. Also Read: Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship Elon Musk Talks Bitcoin The founder of Tesla and Spacex, Elon Musk, is once again making headlines about crypto. He recently went on the Ark Invest podcast to discuss the future of autonomous driving technologies. Most of the half-hour interview focused on the strategy behind his electric car company but the topic of cryptocurrency eventually popped up in the last four minutes. Musk commented: “I think the Bitcoin structure is quite brilliant. There seems like there is some merit to Ethereum as well, and obviously others. But I’m not sure if it’s a good use of Tesla resources to get involved in cryptos … We’re really just trying to accelerate the advances of sustainable energy. One downside of Bitcoin is … computationally it’s quite energy intensive. There has to be some kind of constraint on the creation of crypto. It’s very energy intensive to create the incremental bitcoin at this point … It bypasses currency controls. Paper money is going away, and crypto is a far better way to transfer value than pieces of paper. That’s for sure.” Shanghai’s Fudan University Launches Research Center Shanghai’s Fudan University has become the latest academic institution to launch a blockchain R&D center. Founded in 1905, Fudan is one of the most prestigious and selective schools for higher learning in China. The Shanghai Blockchain Engineering Technology Research Center is tasked with carrying out basic research in the field, developing demo applications in collaboration with the broader industry, and training talent to serve Shanghai’s economic development. Last month the University of California, Berkeley announced the formation of its own blockchain-focused startup accelerator program, the Berkeley Blockchain Xcelerator. This program is meant to help aspiring entrepreneurs create high-value ventures in the blockchain space with industry guidance from Silicon Valley. Xdat Exchange Lists 18 Trading Pairs Xdat, a new Malta-based cryptocurrency trading exchange, has announced the listing of 18 trading pairs. These comprise ETH/BTC, BCH/BTC, EOS/BTC, ETC/BTC, XRP/BTC, DASH/BTC, LTC/BTC, BTC/ETH, BCH/ETH, EOS/ETH, ETC/ETH, XRP/ETH, DASH/ETH, LTC/ETH, BTC/TUSD, ETH/TUSD, BTC/EURO, and ETH/EURO. The company has further plans to add other pairs over time. The exchange is compliant with Maltese regulations for KYC and AML procedures and caters to both retail and institutional investors. Its fiat gateway allows users to deposit funds in 12 major currencies: USD, GBP, JPY, HKD, CHF, AUD, NOK, SEK, DKK, CZK, PLN, and HUF. This selection is meant to eliminate the need for involvement of a foreign bank for the supported options and allows users to work solely with Xdat’s bank. “Xdat is on a mission to address the key problems of existing exchanges … including lack of flow of new capital, lack of trust, no approach for mass adoption, and high fragmentation,” said CEO Prashanth Swaminathan. “Our aim is to bring crypto to all. To that end, we will be working closely with our community and using their support and feedback to make our interface more user-friendly and trading as streamlined as possible.” What do you think about today’s news tidbits? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange appeared first on Bitcoin News.
Bitcoin News

Elon Musk Praises 'Brilliance' Of Bitcoin And Ethereum, But Clash With Tesla's Energy Stance

Main Street seems to be giving cryptocurrency a second look. Last week, Jamie Dimon and JPMorgan Chase & Co. (NYSE: JPM) announced an investment in JPM Coin, which will become the first digital token provided by a U.S. bank. This week, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk lent cryptocurrency additional validation. “Paper money is going away, and crypto is a far better way to transfer value than pieces ...Full story available on Benzinga.com
Benzinga

Elon Musk Calls Bitcoin "Brilliant" | Here's Why He's Optimistic

What are your thoughts on this news? Are you optimistic or bearish? Feel free to leave a comment below! Thank you all so much for watching the video. If you enjoyed the video, please consider dropping a like and subscribing. Running into some trouble or questions? Feel free to leave them down in the comments below! ---------------------------------------------------------------------------------------------------------- Check out Yellow: https://www.youtube.com/channel/UC2u2FXKKyIFsNBr_MlpCMfA Interested in signing up for our newsletter? Click the link below! Link: https://www.nicholasmerten.com/newsletter-dash-report-1/ Looking to file your crypto taxes? Check out TaxBit! https://app.taxbit.com/invite/DataDash/ ---------------------------------------------------------------------------------------------------------- What are your thoughts on current markets? Are you optimistic or bearish? Feel free to leave a comment below! Thank you all so much for watching the video. If you enjoyed the video, please consider dropping a like and subscribing. Running into some trouble or questions? Feel free to leave them down in the comments below! *I WILL NEVER PURSUE PROJECTS THROUGH TELEGRAM OR OTHER SOCIAL MEDIA OUTLETS. CONTACT MY EMAIL LISTED BELOW FIRST AND THEN VERIFY MY IDENTITY THROUGH A VIDEO CALL BEFORE MOVING FORWARD. THERE ARE MANY SCAMMERS IN CRYPTO. EMAIL SPOOFING IS RAMPANT, SO VERIFY MY IDENTITY THROUGH VIDEO* For consulting, speaking, or other business inquiries, please feel free to reach me at contactdatadash@gmail.com Patreon: http://patreon.com/data_dash Telegram: Alerts | https://t.me/Data_Dash Discussion | https://t.me/datadash Discord: https://discord.gg/S7MtTcB Donate NANO: xrb_3y7qi1z5kcpgi9cnk4bctus155qntiy1cszfmeh9zg7eqqqjb9imebsqf33t BTC: 14DHXJa9CgeBPf6m7UeMKE9yzAYFKPW2nV ETH: 0xa34d3461ae04953489e9aa464689c022836751d0 Want to start trading cryptocurrencies? Sign up through this link to get $10 of free bitcoin with your first purchase of over $100 ↓↓↓ https://goo.gl/woCYL6 Want to start trading coins? My top choice is Binance. ↓↓↓ https://goo.gl/DZVYPn Want to trade OTC? Caleb & Brown is my personal favorite to get started. https://partners.calebandbrown.com/datadash Looking to buy physical gold or silver? Check out the link below: https://goldsilver.com/?aff=DD Disclaimer: Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.
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