Crypto expert Bobby Lee'south early predictions on the price of Bitcoin have proven to exist quite accurate during the latest bull run.

In a tweet from Dec 2018, the Ballet crypto wallet CEO and founder said that the next Bitcoin (BTC) rally would start in belatedly 2020, take off in early on 2021, and follow with a acme in December. The recent bull run which started last twelvemonth has seen the price of the crypto asset pass its previous all-time high toll of $twenty,000 in December and $30,000 the following month.

"Back [in 2018], Bitcoin was under $10,000 — no one was talking about it," Lee told Cointelegraph. "People who weren't drinking the Kool-Aid were thinking I was crazy to even brand a prediction two years out that's and then specific."

Lee did tone down his 2018 prediction of a $333,000 BTC peak by December, simply notwithstanding said the Bitcoin price was likely to leave the electric current one, roughly $52,000, in the dust:

"I call up it'll go up at least some other four-v times, and so it'll hitting $200,000-$250,000 this twelvemonth."

He said that the most contempo cost movement was likely due to the news of institutional investors like Tesla getting into crypto, and many in the ecosystem believing the SEC volition now be more than open up to approval a Bitcoin exchange-traded fund. Lee said now that someone "equally respected every bit Elon Musk" had moved part of his visitor's balance sheet into virtual currency, "every board member of every publicly listed company and fifty-fifty board members of individual companies" may have to consider the same investment.

He also felt it was possible Musk'due south other venture, the privately held company SpaceX, could follow. The aerospace firm'south primary financial officer Bret Johnsen reportedly attended MicroStrategy's recent web conference on corporate Bitcoin strategy.

Amongst Lee's other long-term predictions for the crypto nugget include the price reaching parity with Tesla's CyberTruck vehicle — priced at $39,900 — in June, and the Bitcoin price crashing in 2022 before bottoming out at roughly $41,000 in Jan. 2023. The Ballet CEO even thinks the BTC marketplace capitalization will flippen gold by 2028, at which fourth dimension the price may reach more than $500,000.

"When [Bitcoin] does superlative, it'll crash, and then the crash will be devastating," said Lee. "To a lot of people, information technology'll exist a huge surprise." He added that the crypto asset would "track itself back up" over time.

Now based in Shanghai, Lee is the current CEO of crypto wallet company Ballet and the writer of his forthcoming book, The Promise of Bitcoin. He is one of the board members for the Bitcoin Foundation, and the sometime CEO of Red china'south starting time cryptocurrency exchange, BTCC, founded in 2011.