Bobby Lee, the founder of cryptocurrency wallet Ballet, believes the crypto space has not yet seen Bitcoin (BTC/USD) crescendo. He shared his sentiments during an interview earlier today, noting that the leading crypto by capitalization is still in a super bull cycle despite its current losses. Lee believes that BTC has been building up interest and that the coin might peak either late this year or early-2022.
In the interview, Lee said the next BTC rally would move quickly, potentially pushing the flagship crypto to either $150,000.00 (£112,626.75) or $200,000.00 (£150,169.00). According to him, multiple factors could thrust BTC to such levels. For instance, he believes a lot of good news could come out and catalyze a bull run.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
Per Lee, good news could be in the form of increasing adoption or regulatory clarity in the crypto space. He added that the crypto market has grown rapidly and currently has over 100 million adopters across the globe. He attributed this growth to the rise of non-fungible tokens (NFTs) and the decentralized finance (DeFi) space.
Lee added that the crypto industry does not get much attention from mainstream media, but its next rally would change this.
A track record of correct predictions
This news comes after Lee predicted that BTC would start surging in December 2020 and extend gains into 2021. He made this prediction via a tweet in 2018.
If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019.
And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023.
Something like that?🙂 https://t.co/M8ljIVnt73— Bobby Lee – Ballet: World’s EASIEST wallet! (@bobbyclee) December 7, 2018
This forecast came to pass after BTC soared to $20,000.00 (£14,999.00) in December 2020 before surging to $30,000.00 (£22,498.50) the next month. The bullish momentum until BTC peaked at around $64,000.00 (£47,999.04) in April. While BTC plunged afterward, it gathered steam again and rallied to its November 10 ATH of $68,789.63 (£51,591.19).
Notably, Lee also predicted that China would enforce a blanket ban on crypto in July before the country proceeded to do just that in September.
At the time of writing, BTC is trading at $54,486.40 (40,863.98) after losing 5.95% over the past 24 hours. For Lee’s new prediction to pass, BTC’s price would have to triple. However, it is worth noting that several other experts believe BTC could trade above $100,000.00 (£74,998.50) in 2022. An example is JPMorgan, which set its BTC prediction at $146,000.00 (£109,497.81).
eToro
10/10
67% of retail CFD accounts lose money
Source link
