"Once global daily output reaches $54m in 2+ years, that would give BTC a price of $60,000" Tweeted BTCC China Co-founder Bobby Lee yesterday
Bobby Lee compared the Gold mining industry to Bitcoin mining, in a tweet posted on the 26th of August 2018, stating he thinks Bitcoin would be valued at $60,000 within 2+ years.
#BitcoinMining industry is at just $12 million/day, compared to $335m/day for #GoldMining industry.— Bobby Lee (@bobbyclee) 26 August 2018
I predict #hashpower will continue to grow for #Bitcoin with daily $ numbers increasing.
Once global daily output reaches $54m in 2+ years, that would give $BTC a price of $60,000.
With the halvening of block rewards on the horizon, currently predicted to be around spring 2020 going by the current hashrate. Block rewards to miners will half from 12.5 BTC to 6.25 per block, these rewards after halvening will account to around 900 BTC per day total.
Bobbly Lee accounted for the entire electricity cost of mining at around $54m/day, causing 1 BTC to sell for around $60k in order to remain profitable.
After next #BlockRewardHalving in Spring of 2020, new #Bitcoin output will drop again, to just 900 BTC/day.— Bobby Lee (@bobbyclee) 25 August 2018
I predict #HashPower will continue to grow, with ever higher amounts of investment in mining (electricity costs).
If that amount reaches $54m/day, we‘ll have $BTC at $60k.