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Bitcoin May Rally to $300,000 by the End of 2021 – Bobby Lee

The current bullish trend could push the Bitcoin price above $100,000 in the summer of 2021. This opinion was expressed in an interview with CNBC by the ex-head of the oldest Chinese cryptocurrency exchange BTCC Bobby Lee.

According to him, Bitcoin is experiencing an “important year” in a cyclical interval. The bullish trend of 2021 is far from over, he said. Over the past eight years, Bitcoin has twice (in 2013 and 2017) experienced major “mega-bull cycles”. In both cycles, the cryptocurrency grew at least 20 times. He said:

Bitcoin started this year at $30,000, so even a tenfold increase is enough to reach $300,000.

Lee stressed that things could change, but the bullish trend in Bitcoin tends to repeat itself, which means that the current year will be “fateful” for the cryptocurrency.

It is noteworthy that this is not Bobby Lee’s first Bitcoin prediction. Back in April 2020, Lee said in an interview with Cointelegraph that the cryptocurrency will rise above $20,000 by the end of the year. Bitcoin really exceeded this threshold in mid-December last year.

At the same time, the cryptocurrency closed last year at a level between $28,000 — $29,000. At the time of writing, the price of one bitcoin was trading at $57,016.

However, Lee believes that Bitcoin can grow and exceed $300,000. Back in November 2019, on his Twitter page, Lee wrote that the cryptocurrency has a chance to overcome $500,000 by 2028 and grow to $1 million. Then the ex-head of the crypto exchange BTCC said that the reason for this growth will be the printing of money around the world.

If you have any questions and comments on Bitcoin today, use the form below to reply.


© MarkStevenson for Commodity News, 2021. | Permalink | No comment |
Published under: Bitcoin

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