The crypto market has experienced quite a number of ups and downs in its performance over the years, with the co-pioneer of the BTCC exchange, Bobby Lee being among those favoring the boom in the industry, with his favoritism being verified by several tweets he sent out recently.
Also known as the Bitcoin bull, Lee further expressed his inclination towards the crypto boom when he stated that as per his expectations, the primary crypto asset would see a boost in its value to $60,000 in future times. Furthermore, the BTCC exchange founder also mentioned that the cumulative value of the asset had the potential to cross the $1 trillion barrier, consequently putting it in a close race with the value of several signature markets. Bobby Lee’s tweet concurs with the theory that the $1 trillion ‘barrier’ would be quite significant in persuading many ‘noncoiners’ by proving to them the usefulness and success of the Bitcoin and hence proving that this elementary asset possesses true worth.
Although predictions are nothing more than bringing one’s knowledge on the subject into use and guessing, Bobby Lee’s tone made him sound like he was certain and hence proved his attitude towards establishing himself as a Bitcoin bull.
Those inclined towards the Bitcoin slump, also referred to as the Bitcoin bears, strongly condemned Lee’s predictions based upon his doubtful and superficial justification of the predictions. Countering the opposition calmly, Bobby Lee made use of his 7 years of experience in the industry to support his predictions.
Lee also mentioned that if the Bitcoin Network’s hashrate continues to face an exponential growth, together with the block reward halving in the Spring of 2020, the asset’s worth could be insight if the $60,000 figure mentioned by him earlier if miners consumed $54 million of electricity per day. According to Bobby Lee, this projection of the asset price is just “simple maths.”
Exhibiting peculiar behavior, Lee did not pay heed to the Bitcoin’s substitute, Altcoins, hence keeping the critics’ eyes open incase he deviates from his bullish stance for the other 1800+ crypto assets.