- Bobby Lee: The Flippening
- Tim Draper’s Lightning Connection
- Tom Lee Shows His FAANGs
The sentiment within the crypto ecosystem has taken a downward turn along with the overall market cap of late. Nevertheless, industry experts remain surprisingly optimistic about bitcoin’s future. Here are three recent predictions for BTC.
Bobby Lee: Bitcoin to $1 Million by 2028
Giving John McAfee a literal run for his money, Bobby Lee, CEO of BTC China, recently came out with a cosmic forecast for bitcoin.
Within a Tweetstorm on Nov. 10, Lee suggested that bitcoin’s upcoming halving, and the supply shock that it’ll bring, will catalyze BTC to flip gold by 2028. Citing a current market cap of around $156 billion, bitcoin would have to perform a move of more than 50x to catch up with gold’s $8 trillion valuation, bringing its value to a staggering $500,000. But the bitcoin bull didn’t stop there. Lee decided to chuck an extra $500,000 on for good measure, citing the monetary easing efforts of global economies.
Tim Draper: $250,000 by 2022
Moving away from the typical bitcoin halving proposals, venture capitalist Tim Draper priced BTC at a lofty $250,000, thanks to its slowly evolving payment initiatives.
Speaking at Malta’s AI and Blockchain Summit last week, Draper explained how bitcoin’s Lightning Network and payment processors such as OpenNode will boost BTC to inconceivable highs:
It’s because of Lightning Network and OpenNode and maybe others that are allowing us to spend Bitcoin very freely and quickly, so that it’s not just a store of value, but it can be used for micropayments; it can be used for retail, it can be used all over.
For Draper, mass adoption is the aim of the game. However, the Lightning Network is still very much in its infancy, with a plethora of issues to iron out. Giving a prediction of that magnitude within three years might be a little too…