Bobby Lee Predicts “Two More Bubbles” Before Bitcoin Reaches $1 Million Value
- Bobby Lee was formerly in charge of BTCC, which is one of the longest-running exchange in China.
- Bitcoin is presently priced at $8,817.46.
Bobby Lee, the former CEO of long-time crypto exchange BTCC and the founder of the Ballet crypto wallet, has plenty of experience in the cryptocurrency industry. Recently, he applied his expertise to Bitcoin, making major price predictions at the Malta AIBC event.
During a recent interview, Lee shed light on the new company that he heads, Ballet. Ballet developed a new hardware wallet that is accessible for Bitcoin and crypto investors globally. Designing a physical wallet follows goals that Lee has expressed for making cryptocurrency more like the current financial system that consumers already understands. In the digital format, Bobby believes that consumers could have difficulty with adopting the assets, but a hardware wallet allows consumers to have a safer place for cryptocurrencies.
The primary coin of the wallet is Bitcoin, though some altcoins are available for storage as well. Those altcoins presently include ETH, XRP, DOGE, and others. According to reports from Bitcoinist, the wallet has a distinct aroma, stimulating the senses but also preventing counterfeits from being developed.
Lee has never shied away from his support for Bitcoin, stating that the price that the token stands at is only a small fraction of the level it can rise to. He believes that Bitcoin is going to continue moving up in price, considering it to be a trillion-dollar asset class.
Explaining Bitcoin’s movement, he says that the price moves in waves, which are bubbles that push up the price. He believes that there will at least be “two more bubbles” before BTC reaches the $100,000 to $200,000 range, pushing to $1 million. He added that these bubbles often increase by 10 to 20 times the previous bubbles, which is why he expects such high prices to transpire.
At the time of writing, Bitcoin was priced at $8,817.46, dropping by 0.22% in the last 24 hours. However, just five days ago, the token was at $9,474.83, demonstrating a downward trend through most of the week.