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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.
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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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Mike Novogratz: Facebook’s GlobalCoin Won’t Rival Bitcoin

Coinspeaker Mike Novogratz: Facebook’s GlobalCoin Won’t Rival BitcoinMajor Bitcoin bull and former Wall Street exec Mike Novogratz recently discussed the current state of the cryptocurrency industry. The Galaxy Digital CEO explained why he thinks the crypto winter is finally over and why ‘Facebook Coin’ won’t rival Bitcoin.During his interview, Novogratz reminded that everyone had their own version of Bitcoin and the supply exponentially grew. Bitcoin, he thinks, had really established itself as a store value. He said:“This is hard to do because there is just one more stored value of this kind. It’s gold. It is hard to be worth something just because it’s worth something. Almost everything else is different. For example, Uber shares are worth something because people are using it. What Bitcoin has done is a unique thing.”He also referred to Bitcoin’s intrinsic value saying:“You can take all the gold in history that has been mined and put it in three Olympic swimming pools and it’s worth $8,5 trillions. Why? Because it sits in the vaults.”Novogratz went to mention that retailers are buying Bitcoin but also the institutions are moving in. There are Yale, Harvard and Stanford endowments.Microsoft Wanting to Link with Bitcoin Blockchain is a Big ThingThe CEO claims the original Bitcoin boom witnessed around 2016-2017 was influenced by the retail-driven investments by around 98%. This means more companies were buying cryptocurrency at a time when it looked like the future of finance. The recent developments in the crypto world are also affected by ‘credentialing’ according to the CEO especially with the recent move by Microsoft in the industry.“Also, there is Microsoft, one of the biggest companies in the world that says they want to do identify solution by linking it to the Bitcoin blockchain. Now this is big.”Microsoft recently announced their initiation of an identity solution to add to the Bitcoin blockchain. As more investments crowd Bitcoin, its value soars higher as witnessed in the recent spike. Microsoft is not the only big organization enabling the ‘credentialization’ of Bitcoin. Not long ago, Facebook lifted all the bans it had imposed on cryptocurrency and any blockchain-related advertisements.He also mentioned Facebook coin saying that it is really important for the ecosystem.“Crypto is going to be part of Facebook’s future. However, this coin will be listed to some stable currency and will be used for payyments. Bitcoin on the other hand is not going to be the payment currency – it will be stored vault, just like gold. If you really think bitcoin is gonna win this store of value, everything else needs to be used for something.”GlobalCoin Isn’t a Threat to BitcoinAs we’ve already wrote, Facebook’s GlobalCoin will probably be established as a stablecoin, pegged to the dollar or local currencies in the countries that will be allowed to use it. It is also likely to run on a private, centralized blockchain, owned and controlled by the company. Based on this fact, it can not be perceived as a direct competition to Bitcoin or other peer to peer decentralized digital currencies.Other coins that piqued Novogratz’s interest include Ethereum and EOS. These projects have to encourage developers to build on top of their platforms. Just few days ago he was comparing various cryptocurrencies with chemical elements in the periodic table. He then considered the role of altcoins, hinting that each coin will have “to prove themselves out” in order to provide a certain use case.On this note, Novogratz argued out that “there’s no one building anything on the Litecoin blockchain,” as opposed to the Ethereum blockchain.Recently, Novogratz made yet another Bitcoin prediction, claiming that the major cryptocurrency will beat its all-time-high record of $20,000 within the next 18 months.Mike Novogratz: Facebook’s GlobalCoin Won’t Rival Bitcoin
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Binance Exchange soon To Roll Margin Trading Service For the First Time

An official blog released by Binance exchange confirms the launch of Margin trading service. However, earlier on May 24, 2019, Binance tweeted two screenshots, seeking user’s suggestion on which layout would they be preferred, a white background one and the black background. It was first noticed on Binance’s Twitter handle when a tweet was posted with two different colors included with the tab of Margin. Nonetheless, it was to create the buzz of its upcoming feature but according to TechCrunch, it has already been tested among a few users. As the testing has already been undergone, it is worth to predict that the margin trading option will go live anytime soon. By usage, Margin trading is an option that enables traders to boost up their buying power by using their balances as collateral. However, it wasn’t available at Binance exchange even the binance itself as the largest exchange as well as  the margin trading option carries potential profit margin. It is the first of its kind of Binance to launch margin trading service whereas the other trading platforms including BitMex, Huobi Pro, Poloniex, Coinbaes’s GDAX and Kraken are already serving this service to their customers. Also Read – Binance’s BNB Token Jumps 12% to Hit $34 Following Margin Trade Interface Tease At the moment, Binance is the second largest cryptocurrency exchange in terms of adjusted volume of the last 24 hours. It presently counts the volume of $2,088,850,554. Nonetheless, its native token, Binance Coin (BNB) is soaring a new peak of $33.87 against US Dollar. According to data provided by Coinmarketcap (CMC), BNB is surging with 6.42 percent over the past 24 hours and presently valuing the average trading volume of $4,781,168,385. Image source – Coinmarketcap What’s your take on BNB’s soaring value.? Do you think it will jump higher citing margin trading option by Binance exchange.? Let us know in the comment below Image source – Techcrunch The post Binance Exchange soon To Roll Margin Trading Service For the First Time appeared first on Coingape.
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Is Facebook Launching its GlobalCoin Cryptocurrency Next Year? BBC Says Yes

There’s been a lot of information circulating that Facebook is moving into the crypto market. And while some of this information is outright false, other bits are true — at least, that’s what the sources say. Take today, for example. On Friday, BBC said Facebook (NASDAQ:FB) is going to roll out GlobalCoin next year in several countries. Here’s everything we know. Facebook’s GlobalCoin Hitting the Market Soon? According to BBC, a London, UK-based broadcasting company, Facebook is planning to roll out its cryptocurrency “GlobalCoin” in 2020. The online media giant, according to the BBC ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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Facebook’s GlobalCoin Allegedly to be introduced in 2020

The post Facebook’s GlobalCoin Allegedly to be introduced in 2020 written by Wieke Beenen appeared first on Blockchain News - Security and Utility Tokens, Tokenomics, Cryptoeconomics According to a report by the BBC, Facebook has serious plans introduce its own crypto currency. The facebook coin, internally referred to as ‘GlobalCoin’ will be introduced in multiple countries in the first quarter of 2020, after extensive testing at the end of this year. The new stablecoin which has been rumored about for a […] The post Facebook’s GlobalCoin Allegedly to be introduced in 2020 written by Wieke Beenen appeared first on Blockchain News - Security and Utility Tokens, Tokenomics, Cryptoeconomics
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