Thursday, 28 October 2021

Bitcoin could surge to $300,000

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.

Co-Founder Of Bitcoin ‘Farm’ Suggests Cryptocurrency Operations ‘Help’ Reduce Carbon Emissions

Check Also

Cryptocurrencies tumble amid China crackdown

REUTERS/Dado Ruvic/Illustration/File Photo TOKYO – Cryptocurrencies tumbled on Monday as China’s crackdown on bitcoin mining ...

Leave a Reply