Bobby Lee, co-founder and former CEO of the crypto exchange BTCC, participated in the Squawk Box Asia program on CNBC and made statements about Bitcoin.
"Bitcoin bull market cycles come every four years, and it's a big deal," said Lee, currently managing director of the cryptocurrency wallet Ballet. I think we can go above $ 100,000 this summer. " said.
Based on previous bull run models, Lee stated that Bitcoin, which entered the year 2021 at $ 30,000 levels, could reach $ 300,000 by building 10x by the end of the year; "I'm not sure whether history will repeat itself or not, we'll see it all together," he said. Warning that "Bitcoin winter" will come after the bull run, Lee said, "Bitcoin may drop a little after reaching its targets, and this can burst the bubble." he added.
Thinking that the Bitcoin winter could take two to three years, Lee said investors "We should always be aware that Bitcoin can drop 80% to 90% from its peak." he warned. According to Lee, although Bitcoin is very variable, its earnings are adjusted according to this risk.
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