Bobby Lee: Bitcoin will surpass $ 250,000 by the end of the year before diving into the 2022 bear market

Crypto veteran Bobby Lee believes Bitcoin price will skyrocket by the end of 2021.

Bobby Lee – CEO of BTCC .börse

Lee, who appropriately predicted Bitcoin’s 50% decline after hitting an all-time excessive close to $ 65,000, believes it will beat its present all-time excessive and make an enormous rally by the end of the year interview of happiness.

“I do not give official funding recommendation, however personally I’m assured that Bitcoin will come again over $ 65,000 in the second half of this year. In my opinion, it will peak over $ 250,000 by the end of the year. “

At the time of writing, Bitcoin is at the moment trading at $ 39,888, it will must rally over 570% to hit Lee’s year-end price goal.

Bitcoin price chart | Source: Tradingview

However, Lee additionally believes that Bitcoin will plunge into a bear market in 2022 and crash 50-80% of its worth after hitting a brand new ATH. A couple of years after the 2022 bear market, it turns into one other bull cycle.

“I believe Bitcoin will have a bull cycle each three or 4 years for the years to return. I anticipate Bitcoin to simply prime one million, two million {dollars} in the subsequent 10-15 years. In truth, I predict that the subsequent cycle will be 2024 or 2025, after which Bitcoin will exceed half one million {dollars} and possibly even attain 1 million {dollars}. “

Lee sees a doable future promoting stress: the rising regulation from China. He is the co-founder of BTCC (initially often known as BTCChina), China’s first bitcoin change and as soon as one of the largest exchanges in the world. BTCC was acquired by an unnamed blockchain mutual fund based mostly in Hong Kong in 2018.

Even after cracking down on bitcoin mining from China this summer season, Lee nonetheless believes the nation has the means to fully ban crypto – even ownership.

You can see extra particulars about the Bitcoin price.

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According to Dailyhodl

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