Bobby Lee - price target in 2020; after block halving: USD $5k-$11k

[Hazir]

Bobby Lee CEO of Chinese exchange BTCC made a prediction about Bitcoin's price after halving in 2020.
Remember: after next halving block mining reward will be lowered to 6,25 BTC

According to other speculations I have seen, Bobby's guess is rather on lower side of the spectrum. Will it come true?

Tweet: https://twitter.com/bobbyclee/status/835875006731034624

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[BrewMaster]

according to logarithmic charts representing bitcoin price rise so far, this prediction falls nearly on the same line. and he is predicting a very wide range anyways that is a $6000 difference between the min and max price he is predicting!

and i don't see any reason for price not being above $5K by then.

[Iranus]

according to logarithmic charts representing bitcoin price rise so far, this prediction falls nearly on the same line. and he is predicting a very wide range anyways that is a $6000 difference between the min and max price he is predicting!

and i don't see any reason for price not being above $5K by then.

Sure, it's a wide range but sometimes you need a voice of reason when people are giving loads of outrageous predictions of it falling to nothing or rising to tens of thousands.

It makes sense that the price will be a few thousand or a bit higher by then and rise more later.

[pixie85]

I'm even more on the low side and expecting not more than $5k ever. I know Bitcoin pumps ended up doubling the starting price within days or weeks. People became so used to it that they no longer see how high the price already is.
Let's take a look back. It took Bitcoin 2 years to break $1000 for the second time. Doubling that in the next 3 years is possible but Bobby's talking about quadrupling it. I don't see it.

[European Central Bank]

I'm even more on the low side and expecting not more than $5k ever. I know Bitcoin pumps ended up doubling the starting price within days or weeks. People became so used to it that they no longer see how high the price already is.
Let's take a look back. It took Bitcoin 2 years to break $1000 for the second time. Doubling that in the next 3 years is possible but Bobby's talking about quadrupling it. I don't see it.

and that's a prime candidate for a future necro posting chuckle.

bitcoin is still nothing in the middle of nowhere. if it started to get a fraction of the attention that other markets get then hang on to your hat.

he could well be low balling. equally bitcoin might be abandoned by then.

[cellard]

Bobby Lee CEO of Chinese exchange BTCC made a prediction about Bitcoin's price after halving in 2020.
Remember: after next halving block mining reward will be lowered to 6,25 BTC

According to other speculations I have seen, Bobby's guess is rather on lower side of the spectrum. Will it come true?

Tweet: https://twitter.com/bobbyclee/status/835875006731034624

The price needs to be 5 figures by the next halving. So im going to give the $10,000 prediction a pass. It may seem crazy now, but bitcoin's marketcap is tiny so we are going to see either continued growth or a massive parabolic rise 2013 style all the way up to $10,000+.

The fundamentals may not be perfect but we'll get through it. Bitcoins going only up. Limited supply, continued demand = moon. It's really that simple.

[NamedUser]

Who is Bobby Lee and why would I care what his random guess would be? This makes no difference to anyone.

https://youtu.be/aO2ZMlqVoA0

Uh oh! Hotdog!

[European Central Bank]

Who is Bobby Lee and why would I care what his random guess would be? This makes no difference to anyone.

https://youtu.be/aO2ZMlqVoA0

Uh oh! Hotdog!

i'm sure he doesn't care about your opinion either. but he's the guy who operates btc china, once the world's biggest exchange, and his brother charlie created litecoin.

[socks435]

I hope that  it will happen in the future.. since we already seen the big changes when the block halving last year are happen just like now we are seen the price is increasing fast.. due to low or decreased block rewards..

[LFC_Bitcoin]

That tweet is from February but yeah, if his prediction comes true it'd be very, very good for us. The next halving will to some extent make or break bitcoin imo.

[Denker]

I'm even more on the low side and expecting not more than $5k ever. I know Bitcoin pumps ended up doubling the starting price within days or weeks. People became so used to it that they no longer see how high the price already is.
Let's take a look back. It took Bitcoin 2 years to break $1000 for the second time. Doubling that in the next 3 years is possible but Bobby's talking about quadrupling it. I don't see it.

The $1000+ in 2013 was highly manipulated and driven by mt.gox.That's why I believe this was a totally unrealistic price at that time.Who knows where we would be without that desaster what brought us two years of depression?!
Therefore I think after 6 months of block halving in 2020 we could see 5 figures for the first time if nothing big unexpected or extremely manipulative is happening again.
In 3+ years we will know more.

[maku]

That tweet is from February but yeah, if his prediction comes true it'd be very, very good for us. The next halving will to some extent make or break bitcoin imo.

It doesn't matter how old is this tweet really. Lee is talking about possible bitcoin's price at certain point in rather distant future.
Do you think that Bobby would say something totally different if he posted this tweet today or two month from now?

I can't wait to see all that angry people in the future when they will be crying that they didn't buy cheap BTC when the price was ~$1300.

[richardsNY]

I prefer to keep holding a defensive stance, but I do get excited when Bobby Lee predicts something. My conservative price prediction for that time will be between the $2500-$3000 level. Everything that the price manages to touch over these levels will be considered a welcome bonus. I normally don't pay much attention to certain predictions from entities as they are talking about $100K per Bitcoin before x number of years. This one seems far more achievable, and that's exactly why it fills me with great joy.

[darkangel11]

I'm even more on the low side and expecting not more than $5k ever. I know Bitcoin pumps ended up doubling the starting price within days or weeks. People became so used to it that they no longer see how high the price already is.
Let's take a look back. It took Bitcoin 2 years to break $1000 for the second time. Doubling that in the next 3 years is possible but Bobby's talking about quadrupling it. I don't see it.

The $1000+ in 2013 was highly manipulated and driven by mt.gox.That's why I believe this was a totally unrealistic price at that time.Who knows where we would be without that desaster what brought us two years of depression?!
Therefore I think after 6 months of block halving in 2020 we could see 5 figures for the first time if nothing big unexpected or extremely manipulative is happening again.
In 3+ years we will know more.

I'm positive about the price but since you've mentioned the halving, keep in mind that there were incredible expectations for this year's halving and the price didn't go to extremes. It sure kept going up, but to achieve $5k in the next 3 years we'd have to be moving up much faster. With current rate we'll still be below $2000 next year.

[European Central Bank]

I'm positive about the price but since you've mentioned the halving, keep in mind that there were incredible expectations for this year's halving and the price didn't go to extremes. It sure kept going up, but to achieve $5k in the next 3 years we'd have to be moving up much faster. With current rate we'll still be below $2000 next year.

the halving certainly delivered one hell of alot more than i was expecting. i thought it would still be sitting in the mid hundreds right now when people started to get excited about it a few months before.

[hase0278]

The price target of Bobby Lee in 2020 seems kinda decent considering that there is a possibility that bitcoin might go 5 times or more of it's current price 3 years or more from now. For now all we can do is wait until 2020, hold bitcoin and wait for the end of the year 2020 to really see whether his price target will be reached or not. If it is reached by then bitcoin might have a big transaction volume by then.

[jubalix]

Bobby Lee seems very conservative and measured in his opinions from what I have read, it speaks well he was able to get such segwit onto LTC

[Qartada]

I'm positive about the price but since you've mentioned the halving, keep in mind that there were incredible expectations for this year's halving and the price didn't go to extremes. It sure kept going up, but to achieve $5k in the next 3 years we'd have to be moving up much faster. With current rate we'll still be below $2000 next year.

the halving certainly delivered one hell of alot more than i was expecting. i thought it would still be sitting in the mid hundreds right now when people started to get excited about it a few months before.

It's not all about the halving though.  That's just a factor that's there throughout all of the other factors that are affecting the market directly.  Obviously the price doesn't have to double for the halving, it just has to double every four years for miner revenues to stay the same without transaction fees rising and that could happen due to a whole range of other factors.

[CyberKuro]

Bitcoin halving every 4 years is such a great idea from the founder.
Last halving on 2016 make the price increase as much $200, however it takes several months to rise until it reaches $900 by the end of the year. During 2016, bitcoin price increase more than 100%, so the best I can expect for this year is $2000 as bitcoin has started this year from $1000. In 2020, I guess bitcoin could reach $4000 but not beyond $5000, if I'm wrong and it turns out more than $5000, I'm happily to say > bitcoin has proven itself exceed my expectations.

[rajasumi3]

I am very much sure with him and believe that the price of bitcoins would be more than 5000$ by the end of 2020.
But i believe that the price of bitcoins would be more than $5k and the acceptance of bitcoins would be very much more rather than it is now.

[DonQuijote]

You know the destination, enjoy the trip.

[azguard]

Bitcoin halving every 4 years is such a great idea from the founder.
Last halving on 2016 make the price increase as much $200, however it takes several months to rise until it reaches $900 by the end of the year. During 2016, bitcoin price increase more than 100%, so the best I can expect for this year is $2000 as bitcoin has started this year from $1000. In 2020, I guess bitcoin could reach $4000 but not beyond $5000, if I'm wrong and it turns out more than $5000, I'm happily to say > bitcoin has proven itself exceed my expectations.

If we take this and end of last year as some markers for this to be true for 2020 year in price, then price wont pass for best possible scenario over 6k.
3000-4000 seem like good margin but still its unpredictable to tell what will be price and what to expect from it in any possible way.