Bobby Lee, the CEO of crypto wallet firm Ballet and a crypto OG, recently said that the cryptocurrency industry is yet to see the “Bitcoin apex,” or cycle top.
Speaking in a CNBC Coin Rush interview today, Lee opined his bullish speculation that the digital gold is very likely to hit and surpass the peak of $150k -$200k by the end of the year or early next year.
Bitcoin Price Catalyst
When asked what he thinks would be the catalyst that will trigger the speedy move of bitcoin to $200k, the CEO pinpointed regulatory framework and massive adoption as the major price drivers’.
According to him, more than 100 million people hold Bitcoin or other cryptocurrencies, even though the asset class is not well reported on, across social media platforms by traditional financial systems.
Additionally, other contributors that will likely spur an all-time high for Bitcoin, Lee said, could include the non-fungible token (NFT) marketplace that has recently blown up users’ interest in cryptocurrency.
That’s not all. Ballet’s CEO also stated that Bitcoin has gained momentum over the last few years. He said:
“With the advent of (NFTs), Decentralized Finance (DeFi), Decentralized Applications (Dapps) and Decentralized Exchanges (DEXs), crypto has gained momentum over the last few years.”
Outrageous Price Predictions?
It is possible for some bitcoin spectators to think that Bobby Lee’s $200k speculation is shocking considering the price volatility surrounding the asset class, but bitcoin enthusiasts and analysts are not moved.
While some analysts and investors have claimed that bitcoin still has the chance of hitting an all-time high of $300k before the end of the year, a recent report suggested that $1 million per BTC could become a reality.
With the passage of time and the turnout of events in the crypto market, investors are finding more reasons to be bullish as bitcoin’s adoption speed continues to increase.
It is only a matter of weeks to the end of 2021. Will bitcoin beat speculators’ price predictions? We can only wait and see.
