Bobby Lee, co-founder of the first Bitcoin exchange in China, has given the crypto-Space is a round of bull fodder. He sees the Bitcoin value in less than a decade, half a Million dollars. And trying to do so, the Stock-to-Flow model, and a good dose of "Hopium".By Christopher clover
11. November 2019 BTC $ 8,505.62 -1.84% part Facebook Twitter LinkedIn xing mail
The US-American IT entrepreneur, Bobby Lee makes no secret of his Bitcoin Bullentum. Why should he China, he was the co-founder of the BTCC in 2011, but the minds behind the first Bitcoin stock exchange. Meanwhile, Lee went under the Wallet manufacturer and sold physical storage methods for Bitcoin & co. Finally, the fact that Bobby is the brother of the Litecoin-founder Charlie Lee makes, the cops-Bingo, perfect.
in Order to give the hopes of the Hodler food and, possibly, the current Dent in the Charts to divert, Lee has tweeted a forecast for the Bitcoin price in the Ether, the Hodler is likely to beat hearts higher:
Gold is now around 8 trillion US dollars, which corresponds to 50 Times of the value of #Bitcoin. I predict that the #flippening will take place within 9 years and $BTC over 500,000 US dollars in addition to shoots. And with all the money in the world is printed, is $BTC amount to actually very likely to be over 1 Million US dollars.
In the crypto-sector is often a "Flippening" the speech, when there is capitalization, the placement of the Top cryptocurrencies in terms of their market and the two Coins of your "table" exchange. Lee means by "Flippening" here, that Bitcoin will one day have a higher market capitalisation than Gold.Bitcoin exchange rate at US $ 500,000 – when all the factors
In a previous Tweet Lee had shown how he comes to this assumption. He's trying to do this, the Stock-to-Flow ratio, however, without naming it explicitly:
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Bitcoin was designed to be in the course of time is SUPER valuable. In the first 10 years there was only 2 and a half coats of the Block Rewards, but in the next 10 years there will be 3 (50 percent)! Up to 20. Year, the daily production will amount to only ~255 BTC – an annual Inflation of less than 0.5 percent. More rare than Gold!
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That the price of Bitcoin, currently being carried by the Support to USD 8,700, on Sunday, the 10. November, of Lee's Tweets to make a new attempt to overcome the hurdle of US $ 9,000, took, wrote the Wallet seller, I Had moved to the Flag:
[...] today the markets? I've said before that the total value of #Bitcoin over a period of 9 years until 2028, is the exceed of #Gold. With the today's gold price is $BTC will probably be in excess until then, $ 500,000 or even $ 1 Million reach!
With so much uncompromising Bullentum and mathematically seemingly inevitable rate increases Skepis is, of course, appropriate. The more and more frequently – now a banking on Bitcoin, the applied Stock-to-Flow-analysis is, in fact, compared to some of the factors for the blind. Thus, the adaptation and the demand for Assets plays considerations have no role in the Stock-to-Flow. To rely on the mere rarity of the asset, is not sufficient as a basis for the Bitcoin Bullentum, however. The Stock-to-Flow-analysis also ignores technological and market dynamic developments that could leave Bitcoin in the long term, its advantage as a "First Mover" with the largest network and the biggest awareness melt away. Add to that the question of whether Mining is worth it, when the last Bitcoin is gemint and for found blocks, only transaction costs are distributed.