One early Bitcoin investor has suggested that the coin could hit over $ 200,000 in a delayed FOMO (fear of missing out) rally.
Bobby Lee, former CEO of cryptocurrency exchange BTCC, denied that Bitcoin (BTC) is going through a difficult time during an interview with Bloomberg on Sept. 29.
Read: Bitcoin rally expected for a long time
Lee, who is one of those who thinks that Bitcoin will rise in the last quarter of the year, objected to the speech that the price has been weak lately.
When asked about Bitcoin testing for the $ 40,000 support, Lee replied, “It was only a 5% drop.”
According to Lee, Bitcoin, which is hovering around $ 43,300 at press time, will not only hit the previous record high, but will surpass $ 100,000, and then even $ 200,000.
Lee believes this will happen, or at least start, before the end of 2021.
“I think it will easily go over $ 100,000 and depending on how strong the rally is, I think it will probably see or even go over $ 200,000,” Lee said, adding:
“Crossing $ 200,000 will certainly be a great success and will get media coverage, starting a rally sparked by the ‘fear of missing out.’ This usually happens every few years. The next FOMO rally is highly anticipated. “
Good morning will come in October
As Cointelegraph pointed out, September was expected to disappoint the bulls and hopeful conditions for a bull market return will only be seen from October.
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Upcoming challenges for Bitcoin include the infrastructure law in the US to be voted on today, the monthly close, and the expiration date of the $ 3 billion option in October.