Bobby Lee, the CEO of Ballet crypto wallet and crypto expert, has predicted a Bitcoin (BTC) price between $200,000-$250,000 before 2022.
It has been reported that Lee said that the next Bitcoin rally would start in late 2020, take off in early 2021, and follow with a peak in December.
If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019. And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023. Something like that?🙂 https://t.co/M8ljIVnt73 — Bobby Lee – Ballet: World's EASIEST wallet! (@bobbyclee) December 7, 2018
However, the recent bull run which started last year has seen the price of the crypto asset pass its previous all-time high (ATH) price of $20,000 in December and $30,000 the following month.
Lee said:
“Back [in 2018], Bitcoin was under $10,000 — no one was talking about it. People who weren’t drinking the Kool-Aid were thinking I was crazy to even make a prediction two years out that’s so specific.”
The report said that Lee did tone down his 2018 prediction of a $333,000 BTC peak by December but still said that the Bitcoin price was likely to leave the current one, around $56,000, in the dust.
He added:
“I think it’ll go up at least another 4-5 times, so it’ll hit $200,000-$250,000 this year.”
Likewise, he said that the most recent price movement was likely due to the news of institutional investors like Tesla getting into crypto, and many in the ecosystem believing the SEC will now be more open to approving a Bitcoin exchange-traded fund.
Lee further said that someone “as respected as Elon Musk” had moved part of his company’s balance sheet into virtual currency, “every board member of every publicly listed company and even board members of private companies” may have to consider the same investment.
He also felt that it was possible Musk’s other venture, the privately held company SpaceX, could follow. Bret Johnsen, the Chief Financial Officer of Aerospace firm, reportedly attended MicroStrategy’s recent web conference on corporate Bitcoin strategy.
It has been analyzed that among Lee’s other long-term predictions for the crypto asset include the price reaching parity with Tesla’s CyberTruck vehicle, priced at $39,900 in June, and the Bitcoin price crashing in 2022 before bottoming out at around $41,000 in January 2023.
Hey @elonmusk I’m looking forward to the #CyberTruck next year! By then, I predict you can buy it with just one #Bitcoin. If $BTC price exceeds $39,900 by late 2021, I’ll GIVE AWAY a FREE @Tesla CyberTruck to one lucky person who Likes & Retweets this. Yes, I’m serious. #Retweet pic.twitter.com/RcMpcqSPdV — Bobby Lee – Ballet: World's EASIEST wallet! (@bobbyclee) June 2, 2020
Lee even thinks the BTC market capitalization will flippen gold by 2028, at which time the price may reach more than $500,000.
#Gold is at about $8 trillion today, which is 50x the worth of #Bitcoin. I predict the #flippening will happen within 9 years and $BTC will shoot up past USD $500,000. And with all of the money printing that’s happening globally, $BTC will actually very likely be over $1 million! https://t.co/hbqGze38k5 — Bobby Lee – Ballet: World's EASIEST wallet! (@bobbyclee) November 10, 2019
He said:
“When [Bitcoin] does peak, it’ll crash, and then the crash will be devastating. To a lot of people, it’ll be a huge surprise.”
Thus, Lee concluded:
“The crypto asset would “track itself back up” over time.”
Source: Cointelegraph