Bitcoin (BTC): Veteran Bobby Lee predicts a dramatic rise

Veteran Bobby Lee, who is the CEO of Ballet, recently gave an interview to Bloomberg Television. It was an opportunity for him to share his perspectives on the crypto market. He explained that after a long bear market, the new industry is preparing to explode the counters. Here is what Bobby Lee predicts for cryptos.

Bobby Lee Predicts a Big Rise for the Flagship Crypto

Currently, analysts are trying to understand why there is so much inflation. Meanwhile, Bobby Lee makes a prediction about the crypto market. The crypto veteran believes that the latter is preparing for an uptrend, despite the ongoing banking crisis. Also, he expects bitcoin (BTC) continues to follow its usual four-year market cycles. He explained : “We are finally seeing the signs of a potential spring and we are coming out of winter. It’s been a long time. Cryptocurrencies have these four-year bull market and bear market cycles.“.

Lee added that the bear market has taken bitcoin down to as low as $16,000 for much of the last year. “Today it has almost doubled and recently hit a high of $31,000“, he specified. The crypto veteran spoke about the upcoming halving of Bitcoin mining rewards. It turns out that this expected event in April 2024 will limit the supply of newly issued BTC.

Cryptoassets are safe havens, says Ballet CEO

Lee believes the recent US banking crisis has been good for the crypto space. He argues that she made the new asset class a refuge from the problems of the traditional financial system. “Cryptos should be viewed as safe havens as they are very different from traditional fiat currency and fractional reserves», has explained Lee.

The CEO of Ballet pointed out: “Since the banking crisis, people are starting to realize that when their money is in the bank, it’s not always there, necessarily, because the money is loaned out to other businesses and other companies“.

Bobby Lee’s words about bitcoin (BTC) are similar to recent speeches by many analysts. At the same time, some believe that the flagship crypto is an alternative to gold. This has also sparked heated debates on social networks.

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