Bobby Lee, the founder of China’s first cryptocurrency exchange, assures the community that BTC will hit $200K. In his words, bitcoin will see more “boom and bust” days, and in one of those, the crypto asset will make its way to the $200K mark.
Bitcoin Will Hit $200K Someday
What has kept the faith among crypto holders this long is the fact that bitcoin will be worth a fortune someday. A couple of analysts in the past have given their views on the direction of bitcoin, some giving short-term and others predicting long-term.
Bobby Lee joins these growing list of enthusiastic analysts as he speaks in an interview with Yahoo! Finance recently. In his opinion, there was no reason for people to feel “doom and gloom” as he says there will be many of such to come. In his words, Lee says;
“We are in one of many, many cycles to come. Any cycle will take us to higher and higher heights. I’m quite confident sitting on my bitcoin investment that in a very short amount of time we’ll exceed $20,000 and go to $50,000, $100,000, even $200,000.”
He further added, “When I say a short time, I don’t mean minutes or hours, I mean maybe months, if not a few years.”
Bobby Lee is Certain That Bitcoin’s Price Cannot Crash
Sometime in 2017, while speaking to a group of audience, Bobby Lee exposed China’s secret plan to tank bitcoin’s price. This was the era when China banned ICOs and later, cryptocurrency exchanges in the country.
What Lee’s Been Up To
Since Lee sold BTCC, he’s spent most of his time “giving speeches, traveling, taking some vacation, and spending time with family,” he says.
However, he’s also found some interesting to do; making secure unhackable hardware wallets. This idea, he reveals, was born as people came to him to store their bitcoin investments for them.
The best way he thought, would be to come up with something super easy to use and also which will keep their crypto assets secure.