According to its historical model, the former BTCC (bitcoin China) co founder and CEO Lee Qiyuan(Bobby Lee) said that the highest possible rise of bitcoin in the current bull market to $300 thousand would be a bubble burst and its price could continue to fall in the next few years.

Li said: "bitcoin bull market cycle is once every four years, this round is a big bull market. I think the price could rise to more than $100000 this summer. "

Bitcoin has had two "super bull cycles" in the past eight years, he said. The last one was in 2017, when the price of bitcoin rose tenfold, from $1000 at the beginning of the year to nearly $20000 at the end of the year.

In the current cycle, the price of bitcoin has reached about $30000 at the beginning of 2021. Li Qiyuan said that if it rises 10 times as much as in 2017, it means that the price of bitcoin will reach $300000. But he said he was not sure history would repeat itself.

Li warned that after the current round of bitcoin bull market, a "bitcoin winter" that may last for several years may hit the cryptocurrency.

He said: "when the bubble burst, bitcoin could fall sharply. In the cryptocurrency industry, we call it "bitcoin winter", which may last for two to three years. “

Investors should be aware that the value of bitcoin could fall as much as 80% to 90% from its all-time high, Mr. Li said.

(2021-3-22)