Cryptocurrency veteran Bobby Lee said that Bitcoin’s 50% collapse from its all-time high does not reflect the market peaks of the past.
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Predicting a 50% drop when BTC approaches the $70,000 level, Lee discussed when Bitcoin could rise to six-digit numbers in a new interview with Venture Coinist’s Luke Martin:
If Bitcoin follows Lee’s path, the leading cryptocurrency should gain more than 200% from current prices in the next 3-5 months.
According to Lee, when BTC manages to double its price in one to three days, we can start talking about a market peak. So far, Lee doesn’t believe the Bitcoin price is increasing at a rate fast enough to signal a top for this cycle:
The founder of cryptocurrency exchange BTCC says that unlike the round top and negative news cycle before the crash, the peak of the bull run will coincide with maximum euphoria and parabolic price action: