One of the oldest crypto investors and former CEO of BTCC crypto exchange, Bobby Lee, said that Bitcoin is long-delayed for a “FOMO Rally” to a new peak marking an all-time high. He added that BTC could hit $200,000 or more soon.
On September 29, during a talk with Bloomberg, Bobby Lee threw off any implication that the price of Bitcoin (BTC) was in peril.
Bobby Lee: BTC has been due for an all-time high “for a long time”
Many experts are on the same page as Bobby Lee and saying that the all-time high for BTC is near. Lee also went on to dismiss wallet manufacturer Ballet’s claims on recent price weakness.
When asked about the recent dip after Chinese FUD, he said that a 5% drop is normal in the crypto market when the coin is above the $40,000 support level.
Despite the dancing around $42,000, BTC can reclaim its all-time high soon, which as speculated, could be even more than $200,000.
He added that the all-time high would arrive, or at least begin arriving before 2021 is over.
“Obviously, going above $200,000 is a huge milestone, so there’ll be a lot of media coverage, and that’s what leads to what they call a ‘fear of missing out’ rally. Generally, that happens every few years. I think a FOMO rally for Bitcoin has been due for a long time now.” He said.
The one who wait (till October) will gain the most
Many experts have speculated that September will be an off month disappointing bulls. But October is expected to offer hopefulness for a massive BTC upward rally.
The two major obstacles in the upward rally are September 30’s voting event by the US Congress on the “Infrastructure bill” and October 1’s $3 billion options expiry.
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