Bobby Lee, a famend crypto fanatic, in a latest CNBC interview, mentioned he isn’t a “know-it-all” skilled, as his earlier prediction of BTC hovering to 6 digits did not materialize within the crypto winter of 2022.
Lee’s earlier bitcoin forecasts
In October of final yr, Lee mentioned a wave of rally fueled by FOMO would ship bitcoin above $100,000 by the top of 2022. On this wave, there can be elevated media protection, which can as soon as once more gas much more demand as new buyers scramble to buy the coin.
Lee made these daring statements in direction of the tail finish of 2019 to commemorate the debut of his new Ballet bitcoin pockets.
Bobby: The bear market might run to 2025
Lee, who again in 2016 mentioned that bitcoin would by no means be centralized, asserts that regardless of the autumn of FTX final month, the crypto bear market just isn’t displaying any indicators of slowing down. Because of an absence of rules or rules which might be insufficiently sturdy to safeguard in opposition to fraud and scams, the market temper for cryptocurrencies has modified from optimism to concern. Earlier than the cryptocurrency market had one other important bull market run, in accordance with Bobby, this bear market would final till the start of 2025.
Regardless that bitcoin promotes itself as being decentralized, belief continues to be a key part when utilizing exchanges, custodial companies, and many others. To enhance client security and rebuild belief within the crypto markets, Lee thinks legal guidelines are important. Though it’s unsure if new authorities restrictions will be capable of cease the current bear market, Lee argues they’ll protect anybody collaborating within the digital foreign money market.