Bobby Lee Predicts Long Term Fall In Bitcoin After Reaching $ 300,000

The price of bitcoin can rise to $ 300,000, after which the growth will be replaced by a long-term fall in the coin’s quotes. Bobby Lee, co-founder and former CEO of BTCC cryptocurrency exchange, said this in an interview with CNBC .

According to him, historical data on the price dynamics of the first cryptocurrency indicate the potential of the bull market. Bobby Lee did not rule out that in the summer of 2021 the cost of bitcoin will reach $ 100,000.

“Bitcoin bull market cycles occur every four years, and the current cycle is a big cycle. I think that this summer Bitcoin can really grow to $ 100,000, ”he said.

However, after reaching an all-time high of $ 300,000, even a slight decline in price will cause the bubble to collapse. Lee suggested that Bitcoin winter will last between two and three years.

“Investors should be prepared for the fact that the value of bitcoin may fall by 80-90% from its historical peak,” the entrepreneur added.

Earlier, ex-broker Jordan Belfort, whose prototype was taken as the basis for the protagonist of the movie “The Wolf of Wall Street”, predicted the growth of the bitcoin rate to $ 100,000 in the near future.

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