Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

BTCC’s Bobby Lee: Bitcoin Price to be Between $5,000 and $11,000 By 2020

Monday, February 27, 2017 14:42
% of readers think this story is Fact. Add your two cents.

(Before It's News)

by William Suberg, Coin Telegraph:

BTCC CEO Bobby Lee has forecast Bitcoin being worth between $5000 and $11,000 by 2020 after the block reward halving.

In a tweet on Sunday, Lee, who has made regular predictions, stated that the daily inflow of cash into Bitcoin would also scale accordingly from the current levels of $2 million per day to up to $10 million.

Lee added that for the “medium-term” he expects a price equal to the number of his followers – $5,600 – but did not stipulate what length of time that might refer to.

His upbeat tone comes amid continued frenzied trading in China, despite the country’s Bitcoin exchanges only semi-operating due to regulatory concerns.

Lee’s BTCC announced on Feb. 15 that it would continue to suspend BTC withdrawals “until March 15,” whereupon it would have introduced new security requirements in line with requests from the People’s Bank of China.

Traders have thus turned en masse to peer-to-peer marketplace LocalBitcoins, with the platform recording two consecutive record weeks. In the seven days ending Feb. 25, over 50 mln yuan went through its books, up from 36 mln the week before.

Weekly LocalBitcoins Volume

Read More @ Cointelegraph.com

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.