Bitcoin is facing a “rally for FOMO” that could push its price up to $ 200,000, says Bobby Lee

Bitcoin (BTC) is waiting for a “FOMO rally” to new all-time highs where it could hit $ 200,000 or more, says one of its senior investors.

In an interview with Bloomberg on September 29th Bobby Lee, former CEO of the BTCC exchange, he rejected any suggestion that the price of BTC was at risk.

“Bitcoin has a long-running FOMO rally coming up”

Lee, who founded the wallet maker Ballet, is one of many voices optimistic about Bitcoin in the fourth quarter and rejecting the recent price weakness.

Bitcoin is facing a “rally for FOMO” that could push its price up to $ 200,000, says Bobby Lee
Bitcoin is facing a “rally for FOMO” that could push its price up to $ 200,000, says Bobby Lee

“It was only a 5% decrease”, he said when asked about the recent slide to retest the $ 40,000 support.

Although Bitcoin was close to $ 42,000 at press time, Bitcoin should not only regain its current all-time highs, but hit $ 100,000, $ 200,000, or even more.

This should happen, or at least begin, before the end of 2021, according to Lee.

“I think it will easily rise above $ 100,000 and then, depending on how strong the rally is, likely reach or exceed $ 200,000 as well.” called.

“Of course, exceeding $ 200,000 is a huge milestone, so there will be a lot of media coverage and that leads to something called a ‘FOMO’ rally, which usually happens once every few years, and I think a FOMO rally for Bitcoin is long overdue. “

BTC / USD (Bitstamp) 1-day candlestick chart. Source: TradingView

Good things happen to the patient (until October)

As we told you before, September is expected to disappoint the bulls until the last day, and only next month will offer more encouraging conditions for the BTC bull run to resume.

The next hurdles are the vote in the US Congress scheduled for Thursday on the “Infrastructure Act” and the expiry of $ 3 billion in options this Friday. that is, immediately after the month-end closing.

A drop in BTC price to nearly $ 30,000 is a popular topic of conversation these days. with an event that will not last long before optimism recovers the market.

For his part, Michael van de Poppe, Cointelegraph employee and analyst was impressed by the price movement today.

“Bitcoin has made a strong recovery today. The stock markets have also recovered well. “ pointed out.

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