LONDON – Bitcoin has hit its record price above $60,000 at the beginning of the month – now the cryptocurrency trades at around $57,000.
Bitcoin’s value could surge as high as $300,000 with possible gains up to $100,000 this summer, the co-founder and former CEO of China-based crypto exchange BTCC, and founder and CEO of crypto wallet startup Ballet Bobby Lee said on Monday. He warned, though, that after the cryptocurrency peaks, there could be a fall.
“I don’t know if history will repeat itself, but what we do know is that bitcoin bull market cycles come every four years and this is a big one,” Lee told media. “I think it could really go up to over $100,000 this summer.”
According to him, two of these “mega bull market cycles” have occurred over the last eight years with the last one coming in 2017, when Bitcoin cost about $1,000 – the price of the cryptocurrency surged to nearly $20,000 by the end of the year.
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