Bobby Lee predicts long-term decline in Bitcoin after reaching $300,000

Bitcoin’s price could rise to $300,000, after which the rally would give way to a long-term decline in the coin’s price. This was stated by Bobby Lee, co-founder and former CEO of the BTCC cryptocurrency exchange.

In his view, historical data on the price dynamics of the first cryptocurrency point to the potential for a bull market. Bobby Lee did not rule out that Bitcoin could reach $100,000 as early as this summer.

“Bitcoin’s bull market cycles occur every four years, and the current cycle is a big one. I think Bitcoin could really rise to $100,000 this summer,” he noted.

However, after reaching the all-time high of $300,000, even a small price decline would burst the bubble. Lee suggested that Bitcoin’s winter could last two to three years.

“Investors should be prepared for Bitcoin’s price to fall by 80–90% from its historical peak,” the entrepreneur added.

Earlier, former broker Jordan Belfort, whose likeness was used as the basis for the main character in the film The Wolf of Wall Street, forecast a rise in Bitcoin’s price to $100,000 in the near future.

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