[2019-09-12] Bobby Lee Suddenly Makes $200,000 BTC Price Prediction

[CryptoBry]

Bobby Lee, the former CEO of BTCC, with Ballet, is done going on vacations after selling the first Chinese exchange for an eight-figure sum. The cryptocurrency veteran has announceda new cryptocurrency startup that will make it easier for the average Joe to spend crypto. Lee claimed that Bitcoin was still a good investment in 2018. This time around, he suggests that BTC could even go to even $200,000.

"We are in one of many, many cycles to come. Any cycle will take us to higher and higher heights. I’m quite confident sitting on my bitcoin investment that in a very short amount of time we’ll exceed $20,000 and go to $50,000, $100,000, even $200,000.”

Read more here...

I think there is a shortage of incredible predictions for Bitcoin lately so this statement coming from Bobby Lee can fill in the demand for it. Well, nothing new actually as many known and not-so-known personalities did the same thing so maybe we should just take this as just another entertainment. However, I would say a big thank you to Bobby in case his prediction can come true.

[1715318437]

1715318437

[1715318437]

1715318437

[RivAngE]

I don't know this guy but his hardware wallet is yelling "SCAM"!

From the article in coin desk (https://www.coindesk.com/early-bitcoin-entrepreneur-returns-with-a-crypto-hardware-wallet-for-the-masses)
"On each wallet, beneath the QR code, there is a string of printed encryption code"
So they basically give you a pre-issued private key which is probably locked for the sake of "simplicity" and which they can very easily have copies of in their servers.

I suppose that his plans are as following,

• Release a compromised hardware wallet in a very low price
• Call a random huge target for Bitcoin in order to get people's attention
• People who noticed will google for the name "Bobby Lee" and they'll find out about a new hardware wallet which is very cheap
• Some will buy this wallet and store their coins in
• When he has sold enough and the BTC price goes higher, he uses the private keys he has stored, steals the coins and pulls an "oops, we got hacked"

Technically though, I suppose this wouldn't be a steal... since the private keys were his from the start and people decide to store money on HIS keys!

I need to bookmark this post of mine and lol about it when this comes true in a year or two!

[jseverson]

So they basically give you a pre-issued private key which is probably locked for the sake of "simplicity" and which they can very easily have copies of in their servers.

It is locked, since it's not as much a hardware wallet as a glorified paper wallet (which he conveniently made for you):

The wallet, also dubbed Ballet, is a piece of metal the size of a credit card that prints a QR code associated with the cryptocurrency wallet address set up by Lee’s firm.

I don't know how they could think this has more security features than a standard hardware wallet considering you have no control of any of the security steps: address generation, generation of the two encryption codes, and combination of the codes into the private key. Regardless of whether they're trustworthy or not, this is just a very misleadingly marketed custodial wallet at best.

Also worth mentioning that this article is almost certainly a promotional piece; they just needed to headline it with something to bait readers. Notice how they prop up this guy's reputation from the get go, and how the prediction isn't talked about in detail at all lol. Still, I suppose it's good that people know in advance that they need to avoid him and his wallet like the plague.

[btc_newspaper]

Hello guys,

I have included this article and more important btc news in my new website: https://mervalnews.wixsite.com/crypto

I hope you enjoy my 10 btc articles of the day! Thanks so much.

[gentlemand]

He has a new product to hawk so of course he's going to make lots of noise and everyone likes to hear a far out price prediction. It would be more interesting if for once someone made a far out prediction about its eventual uses and how it'll change the world - 'your sexbot will run on Bitcoin by 2030'.

I guess that's less eye catching.

[Naida_BR]

I think that those statements are made from desperate guys who want to bump the price.
How is that possible for BTC to reach 200k suddenly?
The environment is very strict and investors reach very carefully to the market without showing any confidence for altcoins which is something negative for the cryptocurrency market.

[stomachgrowls]

Unrealistic Bitcoin price prediction = Side advertisement with his Ballet hardware wallet. -Sounds Legit- 

[RivAngE]

He has a new product to hawk so of course he's going to make lots of noise and everyone likes to hear a far out price prediction. It would be more interesting if for once someone made a far out prediction about its eventual uses and how it'll change the world - 'your sexbot will run on Bitcoin by 2030'.

I guess that's less eye catching.

oh no believe me, that's really eye-catching!
It has the S-word in it so that's enough as good as calling a 6-digits BTC prediction!

[Jating]

No surprises here, I mean the the guys has been in the market for so long that he really knows how this guy play. And him being a social media influencer, he should tweet something positive like the exorbitant $200,000 claim and obviously, make him more money.

Oh and it supposedly wallet? Nah, I'll pass, just get a hardware wallet and you are good to go. And yes this is a paid advertisement so don't take it seriously.

[buwaytress]

Why is he still smiling when he should be frowning at how so unbullish he has become. I mean come on 200k is only 10x of the last ATH. If that is the best a supposedly ultra bull can go, the maybe it is really only Mister McAfee who has any virtual balls these days.

If you're in the business of spouting arbitrary 6 digit figures, why not go for broke. Not like there's much reputation left to protect.

[Reid]

I don't know this guy but his hardware wallet is yelling "SCAM"!

You easily detected it so I guess he wont do it anymore since maybe a lot does said it to him already specially his team behind it.

If there is a hole then you cannot continue creatingg a scam specially when you are already known. It will be jail time in a blink.

About the 200k though, I doubt that will happen. We are even in a phase where it is getting difficult to reach the 2017 ATH. So I bet there is another purpose doing this.
Is he holding a lot of bitcoin? It could be for withdrawal purposes and he just want a hype before selling.

[Duzter]

Something miraculous need to happen with the network to experience the predicted $200k value. This is simply an attempt to promote his service. What he mention doesn't make sense, earlier people aren't aware about the market which helped such persons to make use of them and get the best out of their pockets. Now the awareness keeps people stay away from scams and what's been initiated is an indirect path to trap.

[redsun114]

"Even 200k" is not really insane to think about, I mean bitcoin has moved higher and higher over the years and I doubt he is giving any deadlines to that 200k prediction so maybe in 10 years we can be 200k? Who knows what will happen to bitcoin in 10 years but if it keeps up the way it has so far in the past 10 years then the next 10 years could be full of bull runs that will eventually make it to 200k, that is why I find him right.

He made a ton of money selling his company and he has ton of bitcoin as well so his prediction is more like a "wishful thinking" instead of prediction but at the same time since he lacks a deadline I totally agree that one day eventually bitcoin will become 200k, we just don't know how long it will take. If it happens in 2030 then I doubt its a great investment to wait that much for 20x return.

[serjent05]

I have heard enough 200k prediction in these months and his does not weigh any, nor can push the price of BTC to the amount he predicted.  Anyway I think it is just a waste of time listening to this kind of people.  Making noise that favors the majority and at the same time promoting his product.

Regarding of his extra ordinary locked hardware wallet, I would stay out of it as much as possible.  Having an electrum wallet is way secure than this so called locked hardware wallet.

I don't know this guy but his hardware wallet is yelling "SCAM"!

From the article in coin desk (https://www.coindesk.com/early-bitcoin-entrepreneur-returns-with-a-crypto-hardware-wallet-for-the-masses)
"On each wallet, beneath the QR code, there is a string of printed encryption code"
So they basically give you a pre-issued private key which is probably locked for the sake of "simplicity" and which they can very easily have copies of in their servers.

I suppose that his plans are as following,

• Release a compromised hardware wallet in a very low price
• Call a random huge target for Bitcoin in order to get people's attention
• People who noticed will google for the name "Bobby Lee" and they'll find out about a new hardware wallet which is very cheap
• Some will buy this wallet and store their coins in
• When he has sold enough and the BTC price goes higher, he uses the private keys he has stored, steals the coins and pulls an "oops, we got hacked"

Technically though, I suppose this wouldn't be a steal... since the private keys were his from the start and people decide to store money on HIS keys!

I need to bookmark this post of mine and lol about it when this comes true in a year or two!

I agree with this reasoning.

[vintages]

So he is setting up 'a new cryptocurrency startup that will make it easier for the average Joe to spend crypto' , then he suddenly made a $200k Bitcoin price prediction; sounds to me like a marketing strategy. Just his way of stiring up interest and bringing in more investors as some investors are losing hope in the price of Bitcoin

I'm not saying that Bitcoin can't reach that price, it will certainly do, glad he didn't say it's the ending of the year like others did.

[STT]

Seems to be a disparity here, he is commending Bitcoin as if there is only one direction possible forward, as if it will be so pivotal to society in its secure value transfer that it comes to a price hundreds of times higher then its a initial peak prices.    Then he is seemingly compromising that secure capability by issuing something in his own favor.  
   I dont like to hear people talk about 200k price or similar because when too many people believe this it puts the danger of having the crowd of popular opinion all standing on one side of boat.  If way too many people are bullish they over speculate on development and growth in Bitcoin which still has a massive road ahead of it to actual achievement.     Its a case of be careful what you wish for because 200k spike could be the end of Bitcoin as we know it, due to it being such a volatile unexpected event and really not justified across the range of finance options.   I think it would be destructive and ironic if it occurred any time in the next year and I would not be surprised to hear the price was inaccessible to most ordinary people somehow and only a virtual price achieved between large parties.  

very short amount of time

  I'll go with the slow steady progress and actual change that makes BTC a feature still standing in twenty years, that would be game changing and the price is not the most important part of its appearance in society; its the utility and ability it unlocks in communities especially distant and isolated from the dollar banking system, people denied capitalism their whole lives.

[Kemarit]

So he is setting up 'a new cryptocurrency startup that will make it easier for the average Joe to spend crypto' , then he suddenly made a $200k Bitcoin price prediction; sounds to me like a marketing strategy. Just his way of stiring up interest and bringing in more investors as some investors are losing hope in the price of Bitcoin

I'm not saying that Bitcoin can't reach that price, it will certainly do, glad he didn't say it's the ending of the year like others did.

Pretty obvious that the guys really needs to attract some attention here by predicting exorbitant price and then at the end promote his wallet. And it's really not hard to spot though, specially if you have been in this market already and you have seen this kind of sweet talk to get beginners and noobs listen to him and then make a pitch about his product. Maybe next week we may see a tweet from him saying that Bitcoin is going to reach $1 million, like what John "gonna eat my manhood in tv" McAfee.

[Febo]

Bobby Lee Suddenly Makes $200,000 BTC Price Prediction

Who dont think that Bitcoin will ever be $200k is delusional. His prediction is in next few years what is most possible scenario. By far biggest chance fro that price for happen is 2-3 years from now.

[pooya87]

The cryptocurrency veteran has announceda new cryptocurrency startup that will ~

it seems like this is becoming a very common pattern these days
everyone who starts a new business in cryptocurrency space and wants their name heard (free advertisement) starts predicting bitcoin price. and they are always the same usual prediction without any value that basically say "price is gonna rise". then the news sites go crazy and advertise their crap...

[fabiorem]

I don't know this guy but his hardware wallet is yelling "SCAM"!

From the article in coin desk (https://www.coindesk.com/early-bitcoin-entrepreneur-returns-with-a-crypto-hardware-wallet-for-the-masses)
"On each wallet, beneath the QR code, there is a string of printed encryption code"
So they basically give you a pre-issued private key which is probably locked for the sake of "simplicity" and which they can very easily have copies of in their servers.

I suppose that his plans are as following,

• Release a compromised hardware wallet in a very low price
• Call a random huge target for Bitcoin in order to get people's attention
• People who noticed will google for the name "Bobby Lee" and they'll find out about a new hardware wallet which is very cheap
• Some will buy this wallet and store their coins in
• When he has sold enough and the BTC price goes higher, he uses the private keys he has stored, steals the coins and pulls an "oops, we got hacked"

Technically though, I suppose this wouldn't be a steal... since the private keys were his from the start and people decide to store money on HIS keys!

I need to bookmark this post of mine and lol about it when this comes true in a year or two!

You've just summarized how all this "hacking" in exchanges go.

But most people prefer that way. They dont want to have responsibility over their own money. Thats why I dont believe bitcoin will destroy the banking system. Banks oppose it only because they are run by boomers.

I like to think that if you dont have your own private keys, then you are still a nocoiner. This people who keep all their bitcoin in exchanges, and dont have their own wallets? Nocoiners, all of them.