Bitcoin WILL PASS 60K, It’s Easy Math!” - Bobby Lee, BTC Veteran Tells Why Price Rise WILL HAPPEN BTC News 2018

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Welcome back to another Article here. Each day coming from the tech cash, els, hope all of you are having a good one. In today's Article, I'll be discussing the opinion of Bobby Lee. That's right. Not Tom Lee, not Charlie Lee Blunt, bobby Lee, who was actually Charlie's brother. Interestingly enough, and uh, bobby Lee has recently stated that bitcoin is sent to surpass a 60 grand because it's quite simply simple math. Now, what exactly is he talking about? Well, in this Article we'll take a closer look at that. So before we go ahead and dive right in, drop a link if you like the Article, Follow and share more and let's go ahead and jump right in. So the cryptocurrency market and has had it's fair share of bulls and bears over the years. Bobby Lee, the cofounder of the BTCC exchange, and Charlotte Lee's brother ostensively, falls into the former category recently issuing a series of tweets regarding his undying bullish sentiment on bitcoin.

For example, he recently tweeted, quote one bitcoin, passes the USD $60,000 price level in the coming years. It will reach a total circulation value of $1,000,000,000,000 that will be a huge milestone for bitcoin and it'll lead to more price stability, higher global liquidity, and even a faster adoption worldwide and he goes on to say it's a virtuous cycle, so I would definitely have to agree with that and I think a sentiment here is really a pretty reasonable. Obviously as bitcoin's price grows and it becomes more viable, more and more people will be using it and that is obviously a positive feedback loop where good increases or gains will be get further gains. So on Friday afternoon, industry veteran and Bitcoin and bull bobby Lee for revealed that he fully expects for the price of the foremost crypto asset to skyrocket do $60,000 in the coming years. So no specific timeframe, but in a few years along with reaching 60 grand apiece.

The crypto entrepreneur noted that the total market cap of the asset will surpass $1,000,000,000,000, which would put bitcoin on par with the value of some legacy markets. And on this he added. That will be a huge milestone for bitcoin and it'll lead to more price stability, higher global liquidity, and even a faster adoption worldwide. This statement alludes to the fact that $1,000,000,000,000 will be an important mental barrier for Bitcoin to cross as once it does no corners or people who don't hold any coins may begin to see that this asset class holds true value. While predictions are often educated guesses at best, Lee made it sound much more like a certainty rather than a forecast which only goes to show that he is a hard set of bull and to set on portraying himself as a bitcoin bowl. However, really quickly received a lot of flack from bitcoin pessimists with many noting that his reasoning behind the prediction was shallow and vague.

At best simply responding to the criticism, the BTCC executive later issued a series of tweets that were meant to bring credence to his afro. Mentioned prediction leave first brought up the idea of mining and bitcoins. Next, having referencing his seven years of experience in the industry, he wrote when I started in 2011 daily global output or the new bitcoin price was at 36 grand in 2015, this went up to one point $8,000,000. Today we're at $12,000,000. It means that globally hash power keeps going up using up to $12,000,000 of electricity costs. Bobby Lee went on to note that if the bitcoin networks hash rate continues to grow, nonlinearly coupled with 20 twenty's block reward having or 900 bitcoin a day, the price of the asset will be pushed up to new heights. Doing some Napkin math. He noted that if the bitcoin miners use up $54, million dollars worth of electricity a day, bitcoin could easily see the $60,000 price level that he mentioned earlier.

He added that. This all goes back to the liquidity needs of the market, noting that if bitcoin's daily demand eclipses $54, million dollars a day, prices will move to if not beyond 60 grand per unit. And Lee even noted that this price forecast is a case of simple math. So what do all of you think? Is this truly a case of simple math? Maybe not for the common person, but if you do sit down and think about it for a little while, it does start to make sense. So anyway, folks, that is my opinion, coupled with the opinion of Bobby Lee. Obviously he is an expert in his field and he does know what he's talking about. Of course, that doesn't mean that you need to agree with him. So let me know what all of you are thinking down the comments section below. As always, drop a like on this Article if you like it, Follow and share for more. Thank you all for the support as of late. I really appreciate it. And anyway.

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