The price of the world’s highest-valued cryptocurrency, bitcoin, could skyrocket as high as $300,000 in the current bull market based on its historical patterns, says Bobby Lee, co-founder and former CEO of crypto exchange BTCC.
He told CNBC that the bubble will burst after peaking and the crypto could see declines for years.
“Bitcoin bull market cycles come every four years and this is a big one,” Lee said, adding: “I think it could really go up to over $100,000 this summer.”
The chief executive of crypto wallet Ballet, Lee explained that two of these “mega bull market cycles” have occurred over the last eight years, with the last one in 2017, when the price of bitcoin surged to nearly $20,000 by the year end from about $1,000 earlier that year.
Still, a “bitcoin winter” that could last for years may hit the digital currency following its bull run, according to Lee. “It could go down by quite a bit and that’s when the bubble bursts. In the bitcoin crypto industry, we call it ‘bitcoin winter’ and it can last from two to three years,” he said.
The entrepreneur also warned investors to be aware that bitcoin’s value could fall as much as 80% to 90% of its value from the all-time peak. “Bitcoin is very volatile, but the rewards are risk-adjusted, I think,” Lee said.
Bitcoin entered 2021 at around $30,000, reaching multiple record levels since then. It surpassed the $60,000 milestone earlier in March, and was trading at $57,488 on Monday at 08:10 GMT.
The price of the world’s highest-valued cryptocurrency, bitcoin, could skyrocket as high as $300,000 in the current bull market based on its historical patterns, says Bobby Lee, co-founder and former CEO of crypto exchange BTCC. Read Full Article at RT.com Read More
Just as the U.S. Government under Obama had installed missiles into Poland and Romania near to Moscow, by using the phony excuse that doing this would defend the EU against (the non-existent) ‘threat from Iran’ (instead of for America to be able to use those missiles to blitz-attack Russia’s central command in The Kremlin), the […]
In the latest example of the disconnect between the elite left and real Americans, a January headline in the Los Angeles Times read: Make America California Again? That’s Biden’s Plan. In the latest example of the disconnect between the elite left and real Americans, a January headline in the Los Angeles Times read: Make America […]
All Global Research articles can be read in 27 languages by activating the “Translate Website” drop down menu on the top banner of our home page (Desktop version). *** First posted on GR on April 13, 2020 Vaccines, for Bill … The post Gates’ Globalist Vaccine Agenda: A Win-Win for Pharma and Mandatory Vaccination appeared first on […]
