The co-founder of Hong Kong-based crypto exchange BTCC says that if history repeats itself, Bitcoin will finally find a bottom next month at about $2,500.
After that, Lee sees a path toward Bitcoin reaching $333,333 by the end of 2021.
If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019.
And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023.
Something like that?🙂 https://t.co/M8ljIVnt73
— Bobby Lee – Ballet: Simple & Elegant Wallet (@bobbyclee) December 7, 2018
Lee is basing his math on the price of Bitcoin back in December of 2013, when Bitcoin hit an all-time high of about $1,200. Over the course of the following 13 months, Bitcoin plummeted by about 87.5%, bottoming out at around $150 in January of 2015.
From then on, BTC gained traction and skyrocketed to a high of nearly $20,000 in December of 2017.
An 87.5% drop from $20,000, puts Bitcoin at $2,500. So, if past is prologue, Bitcoin, which is currently trading at $3,356 at time of writing, has further to slide.
If you’re looking for more predictions, check out Binance CEO Changpeng Zhao on the future of crypto, and here’s a video mashup of industry analysts Tom Lee, Mati Greenspan, Naeem Aslam and Ronnie Moas.