Bobby Lee, former head of crypto exchange BTCC, has predicted that the cryptocurrency bull market will only return by early 2025.
He has said:
“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.“
According to him, Bitcoin remains “relatively resilient”, having lost 10-20% amid a 50% drop in altcoins.
He 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.
He has added:
“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.“
