Bobby Lee: Bitcoin leans towards $80,000

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The brother of Tom Lee (Fundstrat Global Advisors), Bobby Lee, co-founder of BTCChina, clarified his stance regarding future Bitcoin price. He wrote that “On this Thanksgiving Day 2018, my new price target for Bitcoin is USD $80,000/BTC. Go, go, go! As always, my number of Twitter followers is also my long-term Price Target for Bitcoin. (Short term prices are volatile, but in the medium to long term, we will get there!)”

Previously he stated that “in this bear market for Bitcoin, it’s worth reminding everyone that $BTC is still only one-hundredth of the value of #Gold: $80 billion vs $8 trillion. Gold is worth 100 times more than Bitcoin today!” At the same time he guesses that now in bear market probably many people sell all their Bitcoins since they “can’t afford to lose all my money” as one of the Lee’s followers, Felix Kern, has said. Maybe better to wait? Lee elaborates and thinks “that’s a long time for everyone except true believers. Enough time to scare away all of the weak long positions. Especially those on margin or those on the fence!”

Lee also got a feedback from Adam Back, CEO of San Francisco and Victoria-based Blockstream
who claims that “I consider $250k-$500k/BTC plausible in the years ahead, from the digital gold, censor-resistent competitor to physical gold, and internet-native digital money.” Lee also believes that one may anticipate the Bitcoin my touch $3,000 before it “goes to the Moon.” He stresses that he likes the idea of a strong sharp drop of Bitcoin since Bitcoin investors saw that in 2014, and “it was jaw-dropping, with BTC hitting ~$150.”

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