Crypto veteran 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.
In a recent CNBC interview, the former CEO of China’s largest crypto exchange BTCC said that he expects BTC to go up in the next few months.
“We know we are in a super bull cycle for the crypto market for bitcoin. And we haven’t seen it grow stronger yet. We haven’t seen the top yet. So there has been a surge of interest throughout the year. 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 later 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 stated that he believes the general public will consider the crypto space heavily when prices soar to new highs.
“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 covered in the mainstream media. But the truth is that with the advent of NFTs, DeFi decentralized applications and decentralized exchanges (DEXs), many people around the world are trading. Crypto has gained momentum over the past few years. 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. ”
