Bitcoin Market Capitalization Ratiosurpasses gold and may ultimately rise to $ 1 million. The founder of the Chinese cryptocurrency exchange BTCC, Bobby Lee, said this in a series of tweets. The expert believes that the situation may change already in 2028.
“I predict that changes will occur over the next 9 years, and BTC will rise to $ 500,000,” he wrote.
#Gold is at about $ 8 trillion today, which is 50x the worth of #Bitcoin.
I predict the #flippening will happen within 9 years and $ BTC will shoot up past USD $ 500,000.
And with all of the money printing that’s happening globally, $ BTC will actually very likely be over $ 1 million! https://t.co/hbqGze38k5
- Bobby Lee - Ballet: Simple & Elegant Wallet (@bobbyclee) November 10, 2019
Lee argued the statement by reducing the supply of coins through the halvings. He noted that in the next decade, the amount of BTC mined will be halved.
His arguments coincide with the development of events inthe well-known model that determines the price of the first cryptocurrency - Stock-to-Flow. Popular on social media, PlanB analyst also predicted the future value of Bitcoin.
According to the presented calculations, the price of BTC / USDmay fluctuate at just $ 8,300 until the next decline in May 2020. However, after this, the situation should change dramatically, and $ 100,000 will appear in about two years.
The current 365 day model price in @ 100trillionUSD's stock-to-flow model is $ 8,285.https: //t.co/o52XCFso13 pic.twitter.com/29OPJGHSDm
- Michael Goldstein (@bitstein) September 24, 2019
Lee also joined PlanB, predictingmuch higher Bitcoin prices in the second half of the next decade. Although, according to PlanB, in the end, printing money can interfere with the Stock-to-Flow model.
The idea of Bitcoin as an alternative storagevalue, still has its main opponents. Among the biggest names is Peter Schiff. Schiff claimed last week that China, which intends to provide its state digital currency with gold, remains “bearish” with respect to Bitcoin. Recall, before that, the expert predicted that BTC / USD would never reach $ 50,000, while gold could easily surpass the $ 5,000 mark.