The month of September is historically tough for Bitcoin, but it often leads to a sudden spike in October. This scenario could cause the price of Bitcoin to hit $ 200,000 by the end of the year.
Cryptocurrency markets are somewhat at half-mast right now. However, many analysts remain positive about the future of cryptocurrency prices. Among them is Bobby Lee, former CEO of crypto exchange BTCC.
Bobby Lee, former CEO of BTCC exchange sees Bitcoin around $ 200,000 soon!
Bobby Lee, former CEO of the cryptocurrency exchange BTCC, spoke on the specialized channel Bloomberg Bitcoin. He is one of those who trusts Bitcoin and its price. He even joins the many analysts who are forecasting a rise in the price of Bitcoin by the end of the year. Therefore, he estimates that the price of Bitcoin could easily break above $ 100,000 before the end of 2021 and move towards $ 200,000.
“Obviously going over $ 200,000 is a big step, so there will be a lot of media coverage, and that’s what leads to what they call the ‘fear of missing the boat’ (FOMO: Fear Of Missing Out). Usually this happens every few years, and I think a FOMO rally for Bitcoin has been in play for a long time. Bobby Lee, former CEO of crypto exchange BTCC
Bitcoin price: € 35,680, 15% less in September before takeoff?
To explain his projection, Bobby Lee refers to the dynamics of Bitcoin in recent years.
However, it is well known that September is rarely a good month for the price of Bitcoin. But that usually marks the beginning of a spike in the price of Bitcoin. This was the case in 2017. Even in 2020, when the cryptocurrency market performed excellently, the price of Bitcoin declined. It went from € 10,200 to almost € 9,200 in September 2020, that is, almost a 10% decrease.
Despite an excellent start to the month, unfortunately this happened again in 2021. The price of Bitcoin has dropped by almost 15% in the last 30 days.
On the contrary, the end of the year is usually good for Bitcoin. Last year, the price of Bitcoin in October rebounded with an increase of almost 30%.
“I am very excited about the price of Bitcoin and I envision a Bitcoin price that will explode in the coming weeks and months. Bobby Lee, former CEO of crypto exchange BTCC
What if this year the price of Bitcoin followed the same logic? For that, it will be necessary to avoid certain pitfalls that lie ahead. The risk of closing in the United States is one of these dangers, as is the expiration of 3 billion options on October 1. Respond in a few days …