There are all kinds of optimistic predictions about the price of Bitcoin these days amidst massive volatility.
The latest one was released by crypto veteran Bobby Lee who recently said that Bitcoin would skyrocket in price by the end of 2021.
Another important issue is the fact that Lee accurately called for a 50% drop in BTC once it approached the $70,000 level.
BTC to see a massive rally by the end of 2021
He believes that BTC will sail past its current ATH and eventually print a massive rally by the end of the year. He revealed all these issues in a Fortune interview.
“I don’t officially give financial advice, but personally I’m confident that the latter half of this year Bitcoin will go back above $65,000. I think it’ll peak out over $250,000 later this year.”
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $40,586.49.
On the other hand, he believes that Bitcoin will endure a bear market in 2022 and lose 50-80% of its value after hitting a new ATH.
A couple of years after the 2022 bear market, he believes that the king coin will move into another bull cycle.
“I think Bitcoin will have its bull cycle every three or four years in the coming years. I expect Bitcoin to pass a million, two million dollars easily in the next 10-15 years. In fact, the next cycle I predict to be in the year 2024 or 2025, and that’s when Bitcoin will cross half a million dollars and might even touch $1 million.”
He also had something to say about China’s crackdown on Bitcoin mining.
“When Bitcoin goes to $500,000, $1,000,000, China might ban Bitcoin altogether when people are no longer allowed to hold it. And that’s gonna be a lot of selling pressure on Bitcoin at that time. I put the odds at 50-50.”
Stay tuned for more news.