Cryptocurrency veteran Bobby Lee says he remains bullish on Bitcoin (BTC), Ethereum (ETH) and the broader crypto market despite the recent downturn.
In an interview with Bloomberg, Lee says that if predictions of a severe crypto winter do not materialize, Bitcoin and Ethereum will easily return to their all-time highs recorded in November 2021.
The crypto veteran says the upgrade that will see Ethereum move from a proof-of-work (PoW) consensus mechanism to proof of stake (PoS) will serve as the catalyst that will see the two crypto assets rally back to record highs.
“I am very bullish on Bitcoin and cryptocurrency. It’s just that I think the last time I was on the show I was worried about the price. In the short term, there was a price correction. And compared to then, Bitcoin and Ethereum have both risen more than 20% in price. And I think I think the bear market call may be premature. We̵[ads1]7;ll see. Right.
If the bear market doesn’t materialize, you can easily see Bitcoin and Ethereum go up to their previous highs, especially with this upcoming upgrade for Ethereum. This is very important for the cryptocurrency ecosystem. Everyone expects it.
On the other hand, if it really is a bear market, I think it is a short term one to two year affair. And that’s just to set the stage for a big new super rally in the years to come.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered straight to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/TadashiArt