Bitcoin Veteran Bobby Lee Forecasts When the Crypto Bull Market Will Return – Here’s His Timeline – The Daily Hodl

Cryptocurrency veteran Bobby Lee is forecasting when the crypto and Bitcoin (BTC) bear market might finish, warning merchants it would take years.In a brand new CNBC interview, Lee says that the crypto market will stay bearish for the foreseeable future earlier than a turnaround in about 24 months.“I feel it’s going to be fairly bearish for the subsequent yr or two.Personally, I predict the bull market will come again in most likely two years’ time. Certainly, by late 2024, it will likely be two years from proper now, and positively by early 2025.But time will inform. It’s onerous to pin down precisely when this bear market will backside out.”According to Lee, Bitcoin has fared comparatively higher in comparison with different crypto property after the implosion of the FTX change.“We’re positively in the bear market after the FTX collapse final month. All of crypto has actually come down quite a bit. Bitcoin has held itself comparatively regular.It solely has come right down to 10-20% and the remainder of crypto has gone down 50%. A variety of the crypto tokens have gone down a lot a lot decrease.”To regain belief and confidence in the digital asset trade, the Bitcoin veteran says extra regulation is required for crypto corporations however not cryptocurrencies.“I’m all the time a proponent of extra regulation in the crypto market once more. Just to be clear, I’m speaking about the regulation of corporations round the cryptocurrency market and never the regulation of the asset itself as a result of the asset itself is inert. It’s simply what it’s. It is a commodity similar to gold and silver.No quantity of regulation can change the chemical composition of gold or silver. And similar factor, no quantity of regulation can change the composition of Bitcoin itself.However, what we will regulate and we must always regulate are the corporations that do enterprise with cryptocurrency particularly people who do custodial companies or retailer cryptocurrency for different individuals.”IDon’t Miss a Beat – Subscribe to get crypto e mail alerts delivered on to your inboxCheck Price ActionFollow us on Twitter, Facebook and TelegramSurf The Daily Hodl MixCheck Latest News Headlines&nbspDisclaimer: Opinions expressed at The Daily Hodl aren’t funding recommendation. Investors ought to do their due diligence earlier than making any excessive-danger investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any loses chances are you’ll incur are your duty. The Daily Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please notice that The Daily Hodl participates in online marketing.Featured Image: Shutterstock/Taves/ModvectorI

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