Bitcoin price will pass $60,000 in the coming years, says BTCC co-founder Bobby Lee, who remains optimistic despite continued volatility and hostile attitudes from governments and financial institutions.
Writing to his 78,000 followers on Twitter, Lee spoke about $60,000 as a major milestone for Bitcoin, leading to faster adoption.
He tweeted: “When Bitcoin passes the USD $60,000 price level in the coming years, it’ll reach a total circulation value of $1 Trillion. That will be a huge milestone for $BTC, and it’ll lead to more price stability, higher global liquidity, and even faster adoption worldwide.”
Before this, Lee was aiming even higher, saying that his medium-term price target is actually over $77,000, which he believes may be hit by August 2020. The long-term price target is ‘much higher’, he added.
Lee is far from the only industry figure predicting big things for Bitcoin and cryptocurrency more wildly, with many making statements about their chosen coin’s potential value rise.
Earlier this year, LDJ Capital founder David Drake claimed that Bitcoin value will hit $30,000 by the end of 2018, due to increased involvement from Wall Street and regulatory bodies.
Other experts have had similar thoughts, with the head of APAC business development at Gatecoin saying back in February: “Increasing regulatory recognition of cryptocurrency exchanges, the entrance of institutional capitaland major technology developments will contribute to the market’s rebound and push cryptocurrency prices to all new highs this year.”