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The top of the market does not occur on the basis of FUD, in the autumn we go to 100 thousand USD! Says a veteran who predicted a 50% decline

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Crypto veteran Bobby Lee says the recent 50% collapse of BTC from his ATH caused by FUD and negative news does not reflect market highs from the past.

BTC will reach $ 100,000 in the fall

Lee fairly accurately predicted a 50 percent drop in the price of BTC. He said it would occur as soon as BTC approached the level of $ 70,000 – to an accuracy of less than 5%. In a recent interview with Luke Martin of the Venture Coinist veteran, he discussed when to expect a market recovery.

According to Lee, BTC will rekindle the bull market and continue the growth from the beginning of the year. Regarding whether and when the price of BTC exceeds the six-digit limit, the analyst states:

“I think we’ll get over $ 100.00 in either the summer or the fall of this year, and then it will rise really quickly.”

The veteran says this wasn’t the highlight

If BTC follows the route set by the crypto veteran, it will see an increase of more than 200% in current prices over the next few months. This would, of course, mean that the current ATH will not be the culmination of this long cycle. According to Lee, we can talk about the peak only when BTC manages to double its price in the range of one to three days.

The analyst does not believe that the price of the main cryptocurrency init grew high enough to signal the peak of this cycle.

“The important thing is that people always ask: How do you know when we reached the peak? …The peak is not due to FUD and bad news. ”

The founder of the BTCC crypto exchange says that the top of the bull run will coincide with maximum euphoria and a parabolic price action. According to him, it cannot be found in the rounded top and the cycle of negative messages that preceded the collapse.

Conclusion

“When there are calls for regulatory intervention, it’s usually a panic sale. This is never the end of the rally. However, the actual end of the peak is usually from insufficient steam. It’s when the price rises too fast and just can’t keep up. So it happens when the price doubles or increases by 50 to 100% in one to three days, I would say, ” concludes Bobby Lee.

Please note that the article is not an investment board and it is not possible to transfer responsibility for your financial decisions based on it. Do your own research!

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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