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The owner of cryptocurrency exchange BTCC, one of the first cryptocurrency exchanges of China, said Bitcoin price could reach the mark of 300,000 USD … but then it will take a few years “dipping” in the decline.
Bobby Lee, CEO of BTCC exchange, said, “In the current bull cycle, Bitcoin price could reach $ 100,000 or even $ 300,000. Bitcoin’s bull run occurs every 4 years. And this time it will be a big bang ”, however… this is not his concern.
Recently, in an interview with CNBC channel, Lee warned investors that “When Bitcoin peaks, the market is very likely to face a downward correction that spans many years.”
It may be even bleaker than 2018, 2019 …
Talking about how Bitcoin price could slide for years after peaking, he personally thinks “this is very likely”.
“In this summer the price of BTC can continue to maintain its heat, I believe the $ 100,000 mark will be broken … but after this, the Crypto market will face a long winter.”
“The price will be pulled back from the top… that’s when Bitcoin’s bull run ends. In the crypto market, I call it winter. A winter can last from 2 to 3 years ”.
“I think everyone should be prepared, especially those holding Bitcoin. We all know Bitcoin is volatile so an 80% correction is normal ”
But, even so, he thinks Bitcoin’s large volatility is what makes it attractive to investors, and the huge rewards often come with risks.
Towards the end of March 2021, in general, Bitcoin price The performance was not bad when it was still able to maintain above the threshold of 54,000 USD, although it was broken many times before.
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