Bobby Lee, a cryptocurrency industry veteran who co-founded the BTCC exchange and is the brother of Litecoin creator Charlie Lee, has revealed during an interview he expects bitcoin to see a rally driven by fear of missing out (FOMO) by the end of the year that will take its price above the $100,000 mark.
During the interview with Bloomberg, Lee addressed China’s recent ban on cryptocurrency trading that saw trading platforms shut down in the country and noted the crackdown was “due for a long time now” and is similar to another crypto crackdown seen in 2017.
Lee noted that Proof-of-Work (PoW) mining operations have started moving out of China because of the crackdown, but noted staking may still be occurring in the country because it does not require hardware, so it’s much harder to track.
