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Bobby Lee predicted the continuation of the bear market

bobby lee-min

Co-founder and former head of BTCC exchange Bobby Lee, in an interview with CNBC, allowed the return of the crypto bull market by early 2025.

“I think it will be quite bearish in the next year or two. I predict a return of the bull market in two years. […] Time will tell. It is difficult to determine exactly when this bear market will bottom out,” he said.

According to Lee, Bitcoin remains “relatively resilient”, having lost 10-20% amid a 50% drop in altcoins.

The expert believes that in order to restore confidence in the digital asset industry, it is necessary to strengthen the regulation of companies in this industry, especially those providing custody services.

“I have always been a supporter of more regulation in the cryptocurrency market. For understanding, I am talking about the regulation of companies, not the asset itself, because it is inert. It is the same commodity as gold and silver. No amount of regulation can change the chemical composition of gold or silver. It’s the same with bitcoin,” Lee explained.

Earlier, former BitMEX CEO Arthur Hayes announced that the first cryptocurrency had reached the minimum of the current cycle. In his opinion, all the “irresponsible organizations” have run out of BTC to sell.

Recall that Galaxy Digital founder Mike Novogratz repeated his forecast for Bitcoin to rise to $500,000. According to him, now the asset will take more than five years to reach the goal due to significant changes in the macroeconomic situation.

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