China’s cryptocurrency exchange’s founder, Bobby Lee, has expressed that the Bitcoin price will likely hit two hundred thousand dollars ($200K), albeit in cycles.
He believes that Bitcoin price would be experiencing what he called “boom-and-bust days” and crypto assets would make their way to mark.
Would the Bitcoin price hit $200k?
Crypto enthusiasts have always believed that someday Bitcoin price would be worth the trouble and Bitcoin would turn into a fortune. Previously, various analysts have provided with their predictions; some gave long-term predictions, and some gave short term predictions.
Bobby Lee has also joined this league of enthusiastic analysts. He reportedly stated that people should not have felt doom-and-gloom as there is more to come. He further stated that many cycles are to come, and any cycle could take the price of Bitcoin to unprecedented heights.
He seemed confident about his claim that in a short period, the Bitcoin investment could exceed twenty thousand dollars to fifty thousand dollars ($20,000 – $50,000). He believes that the Bitcoin price would then move to a hundred thousand dollars ($100,000) and even two hundred thousand dollars ($200,000). He further clarified that by the short time he does not mean minutes or hours but months if not years.
Back in 2017, Bobby Lee revealed China’s plan to tank Bitcoin price. That was the time when China banned the initial coin offerings (ICOs) and then the cryptocurrency exchanges in the country. Although China’s quest had not really affected BTC, but Lee’s crypto exchange was obviously affected.
However; Lee was confident about Bitcoin’s price that it could not be brought down even by Satoshi Nakamoto. Currently, Lee is developing secure and unhackable hardware wallets.