Mr. Lee revealed that if history would repeat itself, Bitcoin would bottom out at $25,000 next month, Jan 2019. He further stated the crypto would then rise in late 2020 peaking at $333,000 by December 2021.
The Bearish Trend
According to his own word, Bobby Lee thinks Bitcoin will continue the bearish run till the end of the year and beginning of Jan 2019. He stated this saying if History repeats itself perfectly then the cryptocurrency Bullish trend would start in late 2020. In believes the Bitcoin could hit a peak price of $333,000 by December 2021.
As of this writing, Bitcoin is trading for just $3419.99 after dropping from about $6,000 barely a month ago. Many crypto experts predicted bitcoin would surge in the last quota of 2018 due to the anticipation of Bitcoin futures trading. However, bitcoin futures trading never came to fruition as SEC is not yet convinced enough to approve it.
Bobby Lee further mentioned that Bitcoin price would crash to around $41,000 in January 2023. Commenting on the early morning Tweet, many people believed that history might repeat itself and Lee’s prediction could become true. Meanwhile, others think institutional adoption of Bitcoin is coming in 2019 and any wild prediction as such could not be very viable.
Meanwhile, it is uncertain to predict Bitcoins actual future performance, history reveals that the market surge of 2017 was predicted by Kay Van-Petersen, an analyst at Saxo Bank. Although other capitalists like Warren Buffet think bitcoin is headed for a bad ending. However, Bitcoin is governed by a community of more than 30 million people who control the price of the crypto through demand and supply.
While commenting on Bobby Lee’s Tweet, a user identifying himself as a Veteran Entrepreneur. Crypto Investor, Freedom Lover, says;
The bull market in 2017 was nothing like 2013. Why would the bear market repeat the same? If this was true just buy Crypto on every third year & sell at the end of 4th year. History may repeat but it’s different every time. I can bet this bull market coming will be different.
On the other hand, the SEC allegations of Bitcoin price manipulation might be truthful. If we look in giving the amount of bitcoin mining power which some individuals accomplish. We are yet to see if Bobby Lee’s prediction could turn out true.
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