One of the long-time Bitcoin investors said the “FOMO rally” of the crypto king on a new ATH of 200,000 US dollars was long overdue.
In one interview Bobby Lee, former CEO of the BTCC exchange, denied all speculation to Bloomberg on September 29th that the Bitcoin price is struggling.
“It was only a 5% drop,” he said when asked about the drop in BTC to test the $ 40,000 support.
Although the price was around $ 43,000 at press time, Lee believes that not only can BTC regain its current all-time high of $ 64,000, but it can continue to hit $ 100,000, $ 200,000, and more.
He suggests that this should be done, or at least begin, before the end of 2021.
“I think BTC will easily break through $ 100,000 and then, depending on the intensity of the rally, it also has the potential to hit $ 200,000 or more.”
“Of course, exceeding $ 200,000 is an important milestone so there will be a lot of media coverage and there will be a ‘FOMO rally’. All in all, it happens every few years and I think a Bitcoin FOMO rally should be a long time coming. “
Good things come to those who wait (until October)
September was disappointing for the bulls, but October is expected to give BTC more impetus to return to the bullish trend.
Hurdles ahead include today’s US Congress vote on an “infrastructure bill” and $ 3 billion bitcoin options that expire on October 1st.
The drop in BTC price to the mid-$ 30,000 range is the focus of discussion right now, although this event likely won’t be long before optimism takes over market sentiment once again.
Analyst Michaël van de Poppe is meanwhile impressed by the intraday price behavior.
“Bitcoin has gone up today. The stock market is also recovering strongly. ”
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According to Cointelegraph