Cryptocurrency veteran Bobby Lee says he stays bullish on Bitcoin (BTC), Ethereum (ETH) and the broader crypto market regardless of the current downturn.
In an interview with Bloomberg, Lee says that if the predictions for a extreme crypto winter fail to materialize, Bitcoin and Ethereum will simply return to their all-time highs recorded in November of 2021.
The crypto veteran says that the improve that can see Ethereum transition from a proof-of-work (PoW) consensus mechanism to proof of stake (PoS) will function the catalyst that can see the 2 crypto belongings rally again to their report highs.
“I’m very bullish on Bitcoin and cryptocurrency. It’s simply that I believe final time I used to be on the present I used to be apprehensive concerning the worth. Within the quick time period, there was a worth correction. And in comparison with then, Bitcoin and Ethereum have each come up greater than 20% in worth. And I believe I believe the decision for bear market that may be untimely. We’ll see. Proper.
If the bear market doesn’t materialize, you could possibly simply see Bitcoin and Ethereum return up in direction of their earlier highs, particularly with this upcoming improve for Ethereum. This is essential for the cryptocurrency ecosystem. Everybody’s anticipating it.
Then again, if there actually is a bear market, I believe that’s a short-term one to two-year affair. And that’s simply to set the stage for an enormous new tremendous rally within the coming years.”
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