Bobby Lee: Bitcoin will reach $2,500 in January 2019
Bobby Lee, the co-founder of BTC China, stated that the Bitcoin price could “bottom” at $2500 in January 2019. However, his latest prediction is considered too optimistic by many traders.
In his tweet, Lee quizzed his audience with the question: «Now from Dec 2017 high of $20,000, going down 87% would take it to $2,500. So maybe bottom out in Jan 2019?»
Respondents appeared unconvinced. At press time, the most popular answer to the survey with 39 percent of votes claimed that Bitcoin would fall further and that this would last beyond next month.
As a reminder, Bitcoin is currently trading at $3457.61 with the market capitalization of $60,205,284,187 which was, however, trading with $17802.90 on the same day a year ago. The Bitcoin dominance index is 55%.
It was reported earlier that BitMEX CEO Arthur Hayes made a prediction that Bitcoin will reach $5,000. Hayes is confident that he has accurately predicted bitcoin’s value, recently stating that his new “sweet spot” is a value of $2,000 to $3,000. He also believes that the current bear market may continue for another year to 18 months.
Earlier last week, Bloomberg analyst Mike McGlone siad that prices for Bitcoin and other cryptocurrencies are likely to weaken, with Bitcoin falling to around $1,500.