According to analyst Bobby Lee, Bitcoin still has not seen the top of the big bull market. Veteran crypto analyst Bobby Lee thinks Bitcoin (BTC) still has a long way to go before it hits a top in this cycle, even after falling sharply from its all-time high of $69,000 earlier this month. Detail Cryptocoin. com
There is still a way to go for Bitcoin
Lee said in his interview that he expects BTC to rise massively in the next few months. Says the analyst:
We know we are in a super bull cycle for Bitcoin. We haven’t seen the top yet. Earlier this year we saw a mini-peak of $65,000 in April. I think we have a good chance of reaching the top either by the end of this year or maybe early next year. We will see a rally approaching. And once we reach the top, it will go very fast and easily exceed $150,000 to $200,000.
When asked what could have nearly tripled Bitcoin so quickly, Lee says the far-reaching growth in the cryptocurrency industry is relatively underreported:
The catalyst is usually a lot of good news. There’s a lot of good news that could come out in terms of regulatory stuff or adoption. There is a huge crypto market right now. More than a hundred million people in the world own Bitcoin, own cryptocurrency. This is not the traditional financial system, so it is not well-reported in the mainstream media. But the truth is that with the advent of NFTs, DeFi, DApps and DEXs a lot of people around the world are making transactions. So when we see a peak, everyone will be talking about crypto. And we haven’t seen that yet. But I believe we are at the beginning of this bull market cycle.
Lee recently took to Twitter to explain what people should look for to determine if the bull cycle will peak. According to him, “Have we arrived yet?” The answer to the question: “No. It’s not even close. ”