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The long-awaited "FOMO rise" of bitcoin which could lead to the price of BTC rising to 200k $ according to one of the oldest bitcoin investors.
In an interview with Bloomberg, Bobby Lee, former CEO of BTCC, confirmed that bitcoin's trend is rising despite the recent declines of the world's number one currency.
Bobby Lee said: "bitcoin is not in trouble, but the price explosion has really been delayed for a long time, bitcoin will jump to unprecedented price levels and may soon exceed 200k.
Bobby Lee, one of the oldest bitcoin investors, is one of many optimistic about a potential price boom for the largest bitcoin in the coming period.
"Although Bitcoin has been hovering near $ 42,000 over the past few days, it will delight its current all-time highs and even reach $ 100,000 or $ 200,000 or more,"Lee said.
The veteran investor predicted that the Bitcoin price spree would begin before the end of 2021."
"I think you'll easily reach over $ 100,000, and then depending on how steep the rise is, you're also likely to touch $ 200,000 or even exceed that,"he told me.
"Obviously, exceeding $ 200,000 is a big milestone, so there's going to be a lot of media coverage, and that's what they call the 'fear of missing opportunities'," Lee added.
"In general, that price spree happens every few years, and I think bitcoin's FOMO rise has been due for a long time now, "he told me.
"September is expected to disappoint Bulls to the end, with just next month providing more hopeful conditions for a return to bitcoin's uptrend,"Lee added.
Strong rises for digital currencies for this reason..Bitcoin 10%
Trader and analyst Reckitt capital was equally optimistic, noting that the bitcoin-dollar pair was recording four-month highs, all of which saw strong buyer support despite the price rising each time.
Referring to the benchmark sentiment gauge to the crypto-currency fear and Greed Index, the trader explained that fear in general has left the market again thanks to the price action on Friday.
"After bitcoin's brilliant breakout move, investors are no longer afraid of bitcoin,"he summarized.
Fear and greed have been languishing in the area of "extreme fear" as recently as Thursday, with its ratings since rising from 20/100 to current levels of 54/100, which are described as "neutral" for sentiment. ( source : investing.com )
- This is for educational purpose and not considering financial advice.