Crypto veteran Bobby Lee says Bitcoin’s recent 50% decline doesn’t reflect past market spikes.

In one interview Venture Coinist Lee’s Luke Martin, rightly calling for BTC to drop 50% as it approaches $ 70,000, is discussing when we can expect Bitcoin to explode and break through.

“I think Bitcoin will hit $ 100,000 by the end of the summer or fall of this year and then it will go up very quickly.”

If Bitcoin gets in the way, the leading cryptocurrency will have to appreciate more than 200% of its current price within the next 3-5 months.

According to Lee, once BTC moves exponentially over a period of one to three days, we can talk about market spikes. So far, Lee doesn’t believe that Bitcoin price has risen fast enough to signal a high for this cycle.

“And I’ll make another prediction. If Bitcoin enters a bull market, then how do you know it has really hit the top? … If the price doubles in a day or three, then it has run out of breath and that will be its all-time high. The bottom line is that people keep asking, “How do we know when Bitcoin hit its all-time high?” The spike didn’t happen because of FUD and bad news. “

Crypto exchange founder BTCC says the peak of the rally will coincide with maximum excitement and parabolic price movement, as opposed to the flood of negative news and rounded peaks before the crash.

“When calls for regulatory action are loud, it often leads to panic selling. This is never the climax of the cycle. However, the actual end of the peak is usually due to insufficient steam. Then the price rises too quickly and can no longer hold it. This happens when the price doubles or increases by 50 to 100% within one to three days. “

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

According to Dailyhodl

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page