After the last drops, the bitcoin price stopped at $8841, gaining only 0.34% in the last 24 hours. BTC volatility has been quite high recently, and every decisive move up and down the price chart triggers a wave of comments and subsequent price projections. One of the most optimistic is Bobby Lee’s recent opinion that two more bubbles will suffice for the bitcoin to reach $1 million.
Bobby Lee and a million-dollar bitcoin.
Bobby Lee, who was at the head of the oldest stock exchange in the world, cryptovalute BTCC believes that bitcoin has a bright future ahead of it. The brother of the creator of Litecoin Charlie Lee said that in the coming years BTC is likely to reach a valuation of one million dollars. He expressed his opinion on this issue at the AIBC summit in Malta.
Some may agree that a million-dollar bitcoin vision may seem ridiculous in the current situation. Nevertheless, Bobby Lee is convinced that bitcoin can successfully reach this level. What’s more, Lee has described BTC as “the millionth class asset”. He added that bitcoin is currently worth only a small portion of its future value, which will be realized in the next five to ten years.
According to Lee, the BTC course moves in waves, which are bulbs, and these, in turn, raise the value of the “cyprocurrency king” to new max ATH. He explained that with each new bubble the price of BTC increases tenfold, and in other cases it increases 20 times. Lee expects new waves in the coming years that will put bitcoin value in the six-digit ceiling. Bitcoin for a million dollars is, according to Lee, a completely realistic forecast.
Or is it just a marketing ploy?
Is Lee’s high forecast just a marketing ploy to draw attention to his Ballet hardware portfolio? You might think so, considering that the optimism about BTC’s future valuation coincided with the promotion of Lee’s new startup portfolio.
During a recent interview at AIBC Malta, Bobby Lee talked about his new company, which created a hardware portfolio called Ballet. It supports mainly bitcoins, but also other cryptocurrencies such as ethereum, XRP, Litecoin, Binance Coin and DOGE.