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Old 23-03-2021, 21:03
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KostiaFM KostiaFM is offline
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Default Re: Daily Economic news by ForexMart

March 23. Bitcoin can rise to $300 thousand, but then – fall by 80-90%

Co-founder and former CEO of BTCC crypto exchange Bobby Lee said that today bitcoin is in a «bull market» and may rise to $300 thousand. At the same time, he warned that the «bubble» could burst after reaching a peak, and the cryptocurrency would fall within the so-called «bitcoin winter», which can last for years.

Lee also noted that Bitcoin bull market cycles occur every four years, and this summer, the value of the digital currency could easily rise to the level of $ 100,000 or more. Two of these «bullish market cycles» have already occurred over the past eight years: in 2017, when the price of bitcoin surged from $ 1,000 to almost $ 20,000 in a year, and in 2021, when the price of cryptocurrency sharply reached $ 60,000.

The economist warned that the bubble could burst when the price of bitcoin declines. In the crypto industry, this is called bitcoin winter, and it can last anywhere from two to three years. Moreover, the value of a currency may fall by 80-90% of its value at its historical peak.
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