2021-03-22 yahoo! - 'Bitcoin Winter' Could Last For Years After Price Hits $300k

[acquafredda]

Despite predicting that Bitcoin price will rise to $300,000 in the current bull market, Bobby Lee, founder of BTCC exchange, believes that crypto markets could spend years in decline after the market reaches its peak.

What Happened: “Bitcoin bull market cycles come every four years and this is a big one,” said Lee who co-founded UK-based cryptocurrency exchange BTCC in an interview with CNBC earlier today.

According to him, the market-leading cryptocurrency is likely to reach $100,000 this summer and may even reach $300,000 if historical cycles were to repeat.

https://finance.yahoo.com/news/bitcoin-winter-could-last-years-171101499.html

This is a very interesting one: Bobby lee is not some stupid commentator but someone who predicted earlier than other the huge institutional boost before others did? What do you guys think about his take on a possible forthcoming crypto winter? Is that likely?

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[Darker45]

This is one opinion among thousands of different opinions. Bobby Lee may not be so stupid to just blabber without any basis, but so are the rest of early Bitcoin enthusiasts who may have opposite views.

Crypto winter is no rare occurrence. It's nothing but a bearish season, sometimes it's worse, sometimes it's not. But we need to remind ourselves that bear prices of Bitcoin are getting higher. Gone are the days when we see Bitcoin price bearish at $4,000 or $5,000. We are already at a certain phase where a bear price is still so high at $35,000 or even $50,000.

I also don't agree that a 90% drop of Bitcoin's price is happening.

[cr1776]

He might be right. Or not.

Every time is different.  Now you have corporate use really starting with MSTR, Tesla, etc being just the tip of the iceberg.  With taproot, tapscript etc you have plenty of new use cases coming in defi etc.  Speedy trial to activate is bullish in the fiat market.  With large uses coming online and lessened new supply the trajectory is up.  With corporations buying hundreds of millions of dollars at a time vs individuals buying thousands of dollars the economics has changed.

I'll tell you in 2025 whether the newbie was right though. 

[20kevin20]

This bull run isn't "a big one" if we talk purely about percentages the market has moved this year vs the other 4-year cycles.

I think we need a "crypto winter" at one point. One thing is for sure: this price run cannot last forever. And times like 2014-2015 I believe are very healthy after extraordinary bull runs. But I'm not sure the guy is right.. after all, there's no crystal ball properly and accurately predicting the market's future. What happens in the futute depends completely on the conditions the market will be in at the time..

[acquafredda]

After Tesla news today I would not be surprised by anything more: the guy is setting a new standard which could revolutionize the world out there. Cutting the banking middleman out of the payment flow is an act of war! Do you see what that means?
Anyway, the next crypto winter will be different, like the next 24 hrs are always critical.

[Betwrong]

~
This is a very interesting one: Bobby lee is not some stupid commentator but someone who predicted earlier than other the huge institutional boost before others did? What do you guys think about his take on a possible forthcoming crypto winter? Is that likely?

I like his optimistic predictions regrading $300k this summer, but I disagree with the following

“It could go down by quite a bit and that’s when the bubble bursts. In the bitcoin crypto industry, we call it ‘bitcoin winter’ and it can last from two to three years.”

I think all processes around the world are accelerating exponentially these days ( of course I mean social processes, not biological ones). So I predict not more than a year for that 'Bitcoin Winter', and then we are reaching a new ATH. That's what I think.

[cr1776]

~
This is a very interesting one: Bobby lee is not some stupid commentator but someone who predicted earlier than other the huge institutional boost before others did? What do you guys think about his take on a possible forthcoming crypto winter? Is that likely?

I like his optimistic predictions regrading $300k this summer, but I disagree with the following

“It could go down by quite a bit and that’s when the bubble bursts. In the bitcoin crypto industry, we call it ‘bitcoin winter’ and it can last from two to three years.”

I think all processes around the world are accelerating exponentially these days ( of course I mean social processes, not biological ones). So I predict not more than a year for that 'Bitcoin Winter', and then we are reaching a new ATH. That's what I think.

I think time frames do compress in some things like this, at least for a while. 

Reminds me of "internet time" from the mid-late 1990s though.  :-)



*Since many may not be familiar:
 https://www.technologyreview.com/2001/04/01/275725/the-myth-of-internet-time/

[stomachgrowls]

This is one opinion among thousands of different opinions. Bobby Lee may not be so stupid to just blabber without any basis, but so are the rest of early Bitcoin enthusiasts who may have opposite views.

Crypto winter is no rare occurrence. It's nothing but a bearish season, sometimes it's worse, sometimes it's not. But we need to remind ourselves that bear prices of Bitcoin are getting higher. Gone are the days when we see Bitcoin price bearish at $4,000 or $5,000. We are already at a certain phase where a bear price is still so high at $35,000 or even $50,000.

I also don't agree that a 90% drop of Bitcoin's price is happening.

Are these comments actually different into those common or typical sentiments that we do able to read up almost everyday when it comes to price speculation? This one is really no different into those.

Crypto Winter or long bearish season no matter what they do call of it, it wouldnt really matter at all since most people are much aware of these kind of scenarios that could happen into this
market excluding those noobs or who just recently join up this market and arent aware on how this market works.

This one talks about $300k.. Why wouldnt mind on talking about on how we gonna get first to $100k instead? $300k is just too far off for some discussion.

We do even have a hard time on breaking this $60k resistance and now we've been talking about those hundreds.A normal day you do usually read up these kind of sentiments.

[Saint-loup]

This is one opinion among thousands of different opinions. Bobby Lee may not be so stupid to just blabber without any basis, but so are the rest of early Bitcoin enthusiasts who may have opposite views.

Crypto winter is no rare occurrence. It's nothing but a bearish season, sometimes it's worse, sometimes it's not. But we need to remind ourselves that bear prices of Bitcoin are getting higher. Gone are the days when we see Bitcoin price bearish at $4,000 or $5,000. We are already at a certain phase where a bear price is still so high at $35,000 or even $50,000.

I also don't agree that a 90% drop of Bitcoin's price is happening.

Are these comments actually different into those common or typical sentiments that we do able to read up almost everyday when it comes to price speculation? This one is really no different into those.

Crypto Winter or long bearish season no matter what they do call of it, it wouldnt really matter at all since most people are much aware of these kind of scenarios that could happen into this
market excluding those noobs or who just recently join up this market and arent aware on how this market works.

This one talks about $300k.. Why wouldnt mind on talking about on how we gonna get first to $100k instead? $300k is just too far off for some discussion.

We do even have a hard time on breaking this $60k resistance and now we've been talking about those hundreds.A normal day you do usually read up these kind of sentiments.

I totally agree with you, this is just another common bull shit prediction for crypto medias. They have nothing to publish, so they make articles about baseless predictions from half celebrities. Bobby Lee said $300 000 in the same way he could say $3 000 000. Why would BTC increase by x6 times in less than 6 months (summer is in 3 months)? I don't understand.

[acquafredda]

~
This is a very interesting one: Bobby lee is not some stupid commentator but someone who predicted earlier than other the huge institutional boost before others did? What do you guys think about his take on a possible forthcoming crypto winter? Is that likely?

I like his optimistic predictions regrading $300k this summer, but I disagree with the following

“It could go down by quite a bit and that’s when the bubble bursts. In the bitcoin crypto industry, we call it ‘bitcoin winter’ and it can last from two to three years.”

I think all processes around the world are accelerating exponentially these days ( of course I mean social processes, not biological ones). So I predict not more than a year for that 'Bitcoin Winter', and then we are reaching a new ATH. That's what I think.

I think time frames do compress in some things like this, at least for a while. 

Reminds me of "internet time" from the mid-late 1990s though.  :-)



*Since many may not be familiar:
 https://www.technologyreview.com/2001/04/01/275725/the-myth-of-internet-time/

That is an absolute masterpiece! Gives all the arguments when nocoiners and bitcoin haters fail to see the point of what Bitcoin is here for and how it will move towards its goal. You are always so witty and sharp to point out these gems. Thank you 

[Kittygalore]

If there is going to be a long winter for bitcoin market when it reached the 300k USD point then I think that it is a good thing for many people because it means that it will be an opportunity to buy more bitcoin and accumulate more in the process and considering that bitcoin can bounce back and have its price go higher than it was expected, I think that enduring this winter is going to be fruitful for those who will do so.

[Kakmakr]

When people talk about fixed price points and fixed price cycles with Bitcoin, I know they do not know what they are talking about.    We know Bitcoin does not follow specific patterns and it is totally based on open market movement. It is also not a "fad" after 12 years.... like most people seem to think.  

I even doubt if Bitcoin is going to reach $100 000 by the end of this year, because it is not guaranteed like most people are commenting on Social media. They want to use traditional prediction formulas and strategies on a very volatile Currency/Commodity.  

[prehisto]

I dont see how this is something new, just another click bait article. Sure, there wil be winter, every financial market has its cycles , after highs we have period of lows and then again highs. We have seen it crypto market again. The question remains, when the highs will end, what will be the ATH of Bitcoin in this cycle.. The 300k number also seems more like attenition grabber than real target for this cycle.

[acquafredda]

When people talk about fixed price points and fixed price cycles with Bitcoin, I know they do not know what they are talking about.    We know Bitcoin does not follow specific patterns and it is totally based on open market movement. It is also not a "fad" after 12 years.... like most people seem to think.  

I even doubt if Bitcoin is going to reach $100 000 by the end of this year, because it is not guaranteed like most people are commenting on Social media. They want to use traditional prediction formulas and strategies on a very volatile Currency/Commodity.  

As I have said above , Bobby Lee is not the usual nutcracker guy throwing predictions like they are poker cards. I believe he has some institutional sentiment that we miss and which is not available for us. Remember is not only about social media, otherwise we would have been already f*****d.

[bbc.reporter]

~
This is a very interesting one: Bobby lee is not some stupid commentator but someone who predicted earlier than other the huge institutional boost before others did? What do you guys think about his take on a possible forthcoming crypto winter? Is that likely?

I like his optimistic predictions regrading $300k this summer, but I disagree with the following

“It could go down by quite a bit and that’s when the bubble bursts. In the bitcoin crypto industry, we call it ‘bitcoin winter’ and it can last from two to three years.”

I think all processes around the world are accelerating exponentially these days ( of course I mean social processes, not biological ones). So I predict not more than a year for that 'Bitcoin Winter', and then we are reaching a new ATH. That's what I think.

I am very skeptical. It would take more institutional investors to pump bitcoin to $300k and it would also take those institutional investors to hold bitcoin after the bubble bursts. However, I predict that it will be those institutional investors who bursts the bubble and it will also be some of them that causes a 3 year bitcoin winter because of short selling.

[bryant.coleman]

These guys are making predictions based on what happened to Bitcoin after the ATHs of 2013 and 2017. They fail to take in to account the recent changes in the cryptocurrency market. Back in 2013 and 2017, we had very few institutional investors. Almost all of the investment came from individuals, who were susceptible to panic selling. Also, a lot of the trade volume was consisted of dirty coins (i.e coins from dark markets and hackers). These factors have changed now.

[decodx]

These guys are making predictions based on what happened to Bitcoin after the ATHs of 2013 and 2017. They fail to take in to account the recent changes in the cryptocurrency market. Back in 2013 and 2017, we had very few institutional investors. Almost all of the investment came from individuals, who were susceptible to panic selling. Also, a lot of the trade volume was consisted of dirty coins (i.e coins from dark markets and hackers). These factors have changed now.

Yes, I agree. We're witnessing a new investor class develop which isn't too concerned with the daily fluctuations of Bitcoin prices.

Existing investors (largely venture capitalists) have been cashing out of Bitcoin a lot, but this new class of investors is looking for long-term exposure to the crypto market. They're less concerned with short-term returns, and more about looking at the large-scale trends in the market.

[boyptc]

That was such high prediction but it's like the offer that we see in the supermarkets when they say "as much as" or "as high as".

$100k is coming closely and we're more than half of it already and going with the prediction of $300k, it needs more what I can ever imagine. More investors, more fundamentals needed to happen and adoption.

[stomachgrowls]

~snip~

I totally agree with you, this is just another common bull shit prediction for crypto medias. They have nothing to publish, so they make articles about baseless predictions from half celebrities. Bobby Lee said $300 000 in the same way he could say $3 000 000. Why would BTC increase by x6 times in less than 6 months (summer is in 3 months)? I don't understand.

When it comes to price predictions then i do usually go look into those realistic digits than on 300k.How much more into those talks about reaching a million? Dont know where they do get those numbers
basing or making up presumptions on things that most not likely to happen.

Nothing can predict out the future though but making up some speculations like this make them look like a fool.Just like on what happened with that bastard McAfee?
What happened on that $1M prediction?

On a forum like this though you would normally or continuously seeing these kind of calls thats what i do expect on day to day basis and somewhat already a boring thing to read on.  

[Sithara007]

The mainstream media is really funny. I don't know why they concentrate so much on the "Bitcoin Winter" part, when the statement also claims that the exchange rates are going to increase 5-fold to $300,000 per coin in the near future. From what I have seen, the media is getting more and more negative about cryptocurrency nowadays. They always concentrate on the negative part, while ignoring the positives.