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According to predictions by Bobby Lee, a well-known entrepreneur and brother of Litecoin’s Charlie Lee, Bitcoin could soon reach a value of $300k during the current bull run we are experiencing.
Lee said during an interview with CNBC:
“Bitcoin bull market cycles come every four years and this is a big one. I think it could really go up to over $100,000 this summer”.
Indeed, looking at the patterns that Bitcoin has historically followed, BTC could still rise and reach as high as $300,000, although after that we should clearly expect a drastic drop.
Bobbie Lee: Bitcoin will see a drastic decline
According to Lee, this new all-time high will be followed by a new “crypto winter” that could last for years. According to Lee, in fact, we are in a bubble moment, and therefore this one could burst.
“It could go down by quite a bit and that’s when the bubble bursts. In the bitcoin crypto industry, we call it ‘bitcoin winter’ and it can last from two to three years.”
Lee obviously also pointed out that he doesn’t have a crystal ball, so it’s not certain that this will happen.
Other Bitcoin price predictions
In January 2021, JP Morgan spoke out to give its opinion on the price that BTC could reach. According to their analysis at the time, the price was going to fall if the $40,000 threshold was not crossed, indicating that there would be a drop in the price of BTC below the 50-day moving average, i.e. to around $25,000.
As we know this did not come and indeed Bitcoin has since reached new highs, exceeding $60,000.
Forecasts for 2030
There are traders and analysts who have gone further in their predictions, even thinking about what might happen in 10 years’ time.
For example, according to the Winklevoss twins, BTC could be worth half a million dollars, while according to Wences Casares, CEO and founder of Xapo, Bitcoin will be worth as much as $1,000,000 by 2027.