2021 Bitcoin bull run is not over, and the real Bitcoin bull run is yet to come, this is the summary of “The Promise of Bitcoin” author Bobby Lee’s recent remarks.
Bobby Lee, also the CEO of the company managing crypto wallet Ballet and board member of Bitcoin Foundation, on Monday, May 31, adding to his January 2021’s prediction, said that the recent decline in BTC price was a temporary correction and the real 2021 Bitcoin bull run is yet to come.
Bobbly Lee’s latest remarks are the continuation of his January 2021 analysis, in which he predicted a double-peek for Bitcoin in 2021. At that time, he said:
Given the huge and fast run upon #Bitcoin prices, we might have a double top this year, like in 2013. (The first mini-peak in 2013 was in April, followed by the real bull market peak in December.)
— Bobby Lee – Ballet: World's EASIEST wallet! (@bobbyclee) January 2, 2021
At that time, Lee predicted that the first mini-peak would bring BTC prices between $70K to $99K. This would be followed by a short-term correction of 40% to 60% from ATH to the bottom. The real bull run would that correction.
While his first mini-peak prediction of $70K from $90K didn’t come true, price correction made it as Bitcoin has now corrected itself 55% from its ATH of near $65K in April 2021.
Lee now believes that the real bull run is around the corner and Bitcoin will climb back to $50K soon. To make his prediction come true, Bitcoin should cross $100K in December of 2021.
In his recent remarks, Lee said:
We now have seen the ~55% correction!
The 2021 #Bitcoin bull market is NOT over.
What you saw these past 2 weeks is just a temporary correction for a double-peak this year.The bull market will resume, and don't complain later this summer/fall when prices climb back above $50k. https://t.co/BjgD9QPHcK
— Bobby Lee – Ballet: World's EASIEST wallet! (@bobbyclee) May 31, 2021
Bitcoin, Ethereum, and most major cryptocurrencies have fallen sharply over the last two and half weeks as the crypto market roller coaster rolls on. Bitcoin is 2.19% down in the last seven despite a slew of positive bitcoin and crypto headlines emanating from the annual Consensus conference as trader’s confidence remained dampened due to the liquidation of $12 billion worth of futures long positions after the start of Bitcoin correction to $30,000 on May 13th.
Some analysts believe that Bitcoin has not bottomed yet and could retest $30K again before bouncing back. Bitcoin is now changing hands at $35,459 at the time of writing.
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