Who is Bobby Lee?
Bobby Lee is the CEO of BTC China. It was the China’s first bitcoin exchange way back in 2011, and the world’s second largest bitcoin exchange by volume in the last quarter of 2014.
He also revealed the reasons why Chinese love Bitcoins: Chinese love of investing and the popularity of bitcoin mining in the country.
Bobby Lee has indeed been part of the early years of Bitcoin, which makes it even more amazing as he revealed amazing predictions about Bitcoin that will surely make Bitcoin users very happy.
BTCC CEO Bobby Lee has forecast Bitcoin being worth between $5000 and $11,000 by 2020 after the block reward halving.
In a tweet on Sunday, Lee, who has made regular predictions, stated that the daily inflow of cash into Bitcoin would also scale accordingly from the current levels of $2 mln per day to up to $10 mln.
— Bobby Lee (@bobbyclee) February 26, 2017
Lee added that for the “medium-term” he expects a price equal to the number of his followers – $5,600 – but did not stipulate what length of time that might refer to.
His upbeat tone comes amid continued frenzied trading in China, despite the country’s Bitcoin exchanges only semi-operating due to regulatory concerns.
Lee’s BTCC announced on Feb. 15 that it would continue to suspend BTC withdrawals “until March 15,” whereupon it would have introduced new security requirements in line with requests from the People’s Bank of China.
Traders have thus turned en masse to peer-to-peer marketplace LocalBitcoins, with the platform recording two consecutive record weeks. In the seven days ending Feb. 25, over 50 mln yuan went through its books, up from 36 mln the week before.