Bitcoin is lengthy past due for a “FOMO rally” to new all-time highs that might touch $200,000 or extra, say certainly considered one among its oldest investors.

In an interview with Bloomberg on Sept. 29, Bobby Lee, former CEO of alternate BTCC, solid apart any thought that the rate of Bitcoin (BTC) become in trouble.
Lee: Bitcoin has been due for subsequent rally “for a long term”

One of increasingly more reassets staying bullish on Bitcoin for Q4, Lee — who went directly to located pockets producer Ballet — brushed off latest rate weakness.

“It become best a 5% drop,” he stated while requested approximately the latest dip to check the $40,000 aid level.

Despite soaring near $42,000 on the time of writing, Bitcoin cannot best reclaim its current all-time highs however pass directly to hit $100,000, $200,000 or maybe extra.

This, Lee suggested, ought to come — or at the least begin — earlier than 2021 is out.

“I suppose you’ll without problems pass over $100,000, after which relying on how sharp the rally is, it’s additionally possibly to touch $200,000 or maybe pass above that,” he stated.

BTC/USD 1-day candle chart (Bitstamp). Source: TradingView
Good matters come to folks who wait (until October)

As Cointelegraph reported, September is anticipated to disappoint bulls till the end, with best subsequent month imparting extra hopeful situations for a go back to the BTC bull run.

Related: Just every other bubble? Bitcoin rate tops comply with Chinese debt cycles, new studies shows

Upcoming hurdles encompass Sept. 30’s scheduled vote via way of means of the US Congress at the “infrastructure bill” and Oct. 1’s $three billion alternatives expiry, this right now following the month-to-month close.

A BTC rate dip to the mid-$30,000s variety is a famous speakme factor at present, with such an occasion despite the fact that slated to now no longer ultimate lengthy earlier than optimism takes over marketplace sentiment again.

Meanwhile, Cointelegraph contributor Michaël van de Poppe become inspired with rate conduct at the day.

“Decent jump of Bitcoin today. Equity markets additionally bouncing nicely,” he noted.