Despite the fact that the latest grow in the price of Bitcoin did not come as a surprise to the CEO of BTCC, he believes the charge of the digital currency can attain up to $7000 if it scales over its previous all-time high.
Bobby Lee stated that humans have been anticipating a time like this for quite some time. Bitcoin’s charge has been growing gradually during the last 8 jaar, which include the few six years wherein the currency expanded in cost by more than one thousand times.
Bobby Lee introduced in the video that he doesn’t recognize how high it would go in subsequent 2017 jaar, as he wouldn’t want to make predictions within the short-time period, the long-time period outlook appears promising.
Bobby Lee zei:
“I suppose long-time period, we all take into account that Bitcoin could be very specific. It’s the world’s first virtual asset and in that sense, nowadays’s cost is just around sixteen billion dollar. As compared to other property, mainly such things as gold, stocks and actual property, sixteen billion dollar is a drop inside the bucket. So if it is going to thirty two billion dollar, which could be doubling the charge. In the past few years, what we’ve seen is: every time we hit an all-time high, Bitcoin itself would truly exceed its all-time high and move up by 3x to 5x or maybe more. So if it crosses the $1300 kind of high, it’d even move up to $7000 per Bitcoin.”
Bobby Lee’s BTCC is one of the main Chinese Bitcoin exchanges, the biggest Bitcoin trading platform available on the market to record a brand new all-time high price of $7666 of $1103. He continues that the drivers of Bitcoin charge have not modified but have been the equal for the last 8 years of its life.
Bobby Lee noted:
“The reason that people are more being attentive to Bitcoin in the last 12 months is due to the geopolitical stuff occurring around the world. We have the demonetization attempt in India and Venezuela. We’ve the foreign capital manage in China. Daarnaast, we’ve the excessive cash printing in other countries, particularly in the united states, Japan and others and the high debts. So when the existing money system has issues, people maybe turn to Bitcoin.”