Bitcoin prediction In 2020 by CEO BTCC can ride up to $60,000

Bobby Lee, co-founder of the BTCC and the brother of the creator Litecoin Charlie Lee, recently making a bullish case for bitcoin, its flagship cryptocurrency currently, he strongly believed that the price of the bitcoin can penetrate to the number $60,000 in the year 2020.

Through the various tweets, entrepreneur reveals that he believes that when the price of the BTC reached $60,000, the total value of circulation will be more than $1 trillion, which in turn will see the prices become more stable thanks to global liquidity higher.

Predictions that the mental barrier breaking seems to imply $1 trillion will help cryptocurrency waves to the highest level above $60,000, because most institutional investors will invest in cryptocurrency thanks to the liquidity .

Early prediction of Lee is not well received at the site for a variety of user indicates mikroblogging weakness in his theory. Some argue, for example, cryptocurrency prices are determined by supply and demand, rather than the effect of its network.

Responding to the criticism, Lee said:

#Mining & #BlockReward explains why the price of #Bitcoin is going up: when I started in the year 2011, the global daily output (price x new BTC) is $36,000. In the year 2015, it reached $1.8 million. Today, we're at $12 million. This means that globally, hashpower continues to rise, using electricity costs up to $12 m.<

Use a lot of electricity, he added, this is not a disadvantage because consensus algorithm using cryptocurrency proof-of-work (PoW), which helps ensure decentralized, which means it's safer with the addition of hashpower.

The Price Of The Bitcoin Cash Today In Rupiah

Employers continue to add that after the prize the next block is reduced to half in the spring of 2020, the output will drop to 900 bitcoin BTC/day. Hashpower if the network continues to increase, the cost of electricity could reach $54 million per day, he said, and this could lead to price BTC became $60,000.

He then compared his case with gold mining. In 2017, Lee says, 3,150 tons of gold mined, meaning his daily output was 8,630 pounds. At today's price which is equivalent to $335 million gold per day. The gold mining industry, he asserted, spend less of it every day.

Further response to critics who claim the BTC will never go beyond the $10,000 again, Lee invited them to bet and check it back in three years. Especially Tom Lee, known as Bull bitcoin and founder of Fundstrat Global Advisors, has also recently made a bullish case for cryptocurrency.

As a closed CryptoGlobe, Tom Lee argues the relatively unknown correlation between BTC and emerging markets, will probably see a bitcoin can end the year with a higher price. He said it would be up to $25,000 at the end of the year.

At the moment, bitcoin trading at $6,700 after falling 0.8% in the last 24 hours. BTC appears to have increased since August 11, and never slipped below the $6,000 resistance.