That’s 4 times its current price! This crypto personality predicts a rally that would allow Bitcoin to hit double digits, as markets threatened to turn seriously red.
Bitcoin at $200,000: can’t-miss rally or overconfidence in the numbers?
In a September 29, 2021 interview with Bloomberg Markets, Ballet founder and former BTCC exchange CEO Bobby Lee says that Bitcoin should have been in a FOMO rally for quite some time, and that it should be headed for new all-time highs, including $200,000.
Lee is one of those cryptosphere figures who are displaying confidence that Bitcoin’s bullish rally will continue, despite the bearish pressure on the markets during the final days of September 2021. When asked about the recent drop that brought Bitcoin closer to $40,000 recently, Lee was reassuring, stating that “It was only a 5% drop.” Although Bitcoin was trading in the $42,000 – $43,000 range at the time, he said Bitcoin would still be on its way to $100,000 and then $200,000 or more:
“I think you’ll easily go over $100,000, and then, depending on the intensity of the rally, it’s also likely to touch $200,000 or even exceed that amount.”
Bitcoin at 6 figures by the end of 2021: optimistic BTC price predictions vs. current market realities
Where does Bitcoin stand a few days after these statements by Bobby Lee? Bitcoin closed the month of September 2021 in the red, aligning with historical data that gives the bears the win for the month.
Bitcoin, however, started October 2021 with a rally that saw it foray above $50,000, even as its price was approaching $40,000 about 48 hours earlier. Bitcoin is trading at $51,884 at the time of writing.
Lingering fears around fiat currency devaluation, accompanied by growing adoption of Bitcoin by retail and institutional investors, all point to a $100,000 Bitcoin by the end of 2021. The markets, however, are being buffeted by the vagaries of regulation, the latest coming from China, which is cracking down on cryptocurrencies for the umpteenth time. In the United States, however, the skies have cleared with the reassuring words of U.S. Federal Reserve Chairman Jerome Powell, announcing that the FED does not want to ban Bitcoin and its cadets.