# Bitcoin price likely to find support at $3,000 and $2,500, says BTCC co-founder Bobby Lee

By Shampa Mani

Canonical URL: https://www.tokenpost.com/news/investing/893
Published: 2018-12-11T08:19:34.000Z
Updated: 2018-12-11T08:19:34.000Z
Section: Investing

> With the ongoing pessimism in the crypto market, BTCC co-founder Bobby Lee expects bitcoin price to find support at $3,000 and $2,500, Forklog reported.

With the ongoing pessimism in the crypto market, BTCC co-founder Bobby Lee expects bitcoin price to find support at $3,000 and $2,500, [Forklog](<https://forklog.com/glava-bitmex-tsena-bitkoina-mozhet-upast-do-2000/>) reported.

BTC/USD, which fell to a fresh low of $3,210 (Coinbase) on December 7, is currently trading around $3,400 at press time. Momentum studies suggest bearish bias with no major sign of reversal.

Lee’s comments are based on a survey in which he asked if bitcoin price will bottom out in January 2019. A total of 4,793 people took the survey.

According to the survey results, 39 percent of respondents expect bitcoin price to break below the $2,500 mark.

Apparently many people have voted that [#Bitcoin](<https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw>) will go below $2,500 in this bear market. I’ll be very surprised if it ever hits $2,000 again. I suspect there will be a lot of buy orders and support at both $3,000 and $2,500 mark. We will see! [https://t.co/M8ljIVnt73](<https://t.co/M8ljIVnt73>)

— Bobby Lee (@bobbyclee) [December 8, 2018](<https://twitter.com/bobbyclee/status/1071433163140825093?ref_src=twsrc%5Etfw>)

In his [latest forecast](<https://www.bloomberg.com/news/articles/2018-12-05/bitcoin-technical-indicators-point-to-more-pain-after-tough-year>), BitMEX CEO Arthur Hayes said that bitcoin price could fall to $2,000. He said

“They [BitMEX Research team] have concluded that we have more to go in this current bear market. Due to the collapse in Bitcoin price volatility, I agree with this sentiment.

“A 75% fall from $9,152 takes us close to $2,000. $2,000 to $3,000 is my new sweet spot…”

Earlier this month, [Bloomberg](<https://www.bloomberg.com/news/articles/2018-12-05/bitcoin-technical-indicators-point-to-more-pain-after-tough-year>) Intelligence analyst Mike McGlone said that the price of bitcoin and other cryptocurrencies are likely to weaken further, adding that BTC/USD could plummet to $1,500.

G

M

T

Detect languageAfrikaansAlbanianAmharicArabicArmenianAzerbaijaniBasqueBelarusianBengaliBosnianBulgarianCatalanCebuanoChichewaChinese (Simplified)Chinese (Traditional)CorsicanCroatianCzechDanishDutchEnglishEsperantoEstonianFilipinoFinnishFrenchFrisianGalicianGeorgianGermanGreekGujaratiHaitian CreoleHausaHawaiianHebrewHindiHmongHungarianIcelandicIgboIndonesianIrishItalianJapaneseJavaneseKannadaKazakhKhmerKoreanKurdishKyrgyzLaoLatinLatvianLithuanianLuxembourgishMacedonianMalagasyMalayMalayalamMalteseMaoriMarathiMongolianMyanmar (Burmese)NepaliNorwegianPashtoPersianPolishPortuguesePunjabiRomanianRussianSamoanScots GaelicSerbianSesothoShonaSindhiSinhalaSlovakSlovenianSomaliSpanishSundaneseSwahiliSwedishTajikTamilTeluguThaiTurkishUkrainianUrduUzbekVietnameseWelshXhosaYiddishYorubaZulu

AfrikaansAlbanianAmharicArabicArmenianAzerbaijaniBasqueBelarusianBengaliBosnianBulgarianCatalanCebuanoChichewaChinese (Simplified)Chinese (Traditional)CorsicanCroatianCzechDanishDutchEnglishEsperantoEstonianFilipinoFinnishFrenchFrisianGalicianGeorgianGermanGreekGujaratiHaitian CreoleHausaHawaiianHebrewHindiHmongHungarianIcelandicIgboIndonesianIrishItalianJapaneseJavaneseKannadaKazakhKhmerKoreanKurdishKyrgyzLaoLatinLatvianLithuanianLuxembourgishMacedonianMalagasyMalayMalayalamMalteseMaoriMarathiMongolianMyanmar (Burmese)NepaliNorwegianPashtoPersianPolishPortuguesePunjabiRomanianRussianSamoanScots GaelicSerbianSesothoShonaSindhiSinhalaSlovakSlovenianSomaliSpanishSundaneseSwahiliSwedishTajikTamilTeluguThaiTurkishUkrainianUrduUzbekVietnameseWelshXhosaYiddishYorubaZulu

Text-to-speech function is limited to 200 characters

Options : History : Feedback : [Donate](<https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=GD9D8CPW8HFA2>)
		Close



## Links in this article

- [Forklog](https://forklog.com/glava-bitmex-tsena-bitkoina-mozhet-upast-do-2000/)
- [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw)
- [https://t.co/M8ljIVnt73](https://t.co/M8ljIVnt73)
- [December 8, 2018](https://twitter.com/bobbyclee/status/1071433163140825093?ref_src=twsrc%5Etfw)
- [latest forecast](https://www.bloomberg.com/news/articles/2018-12-05/bitcoin-technical-indicators-point-to-more-pain-after-tough-year)
- [Donate](https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=GD9D8CPW8HFA2)