Although Bitcoin has already declined to $ 29,400, it has exceeded the psychological limit of $ 30,000, which investors have been waiting for a long time.
The fact that BTC crossed this limit made investors more hopeful for the rise.
One of them was Bobby Lee, the former founder and CEO of BTCC, China's first cryptocurrency exchange.
Bobby Lee, now the founder and CEO of cryptocurrency wallet firm Ballet, said in an interview with Bloomberg Television that there are strong signs that the crypto winter is over.
“At the end of the harsh crypto winter, we are seeing signs of spring in crypto. It has been a long time since Taurus.
Bitcoin has bull and bear market cycles of four years. We saw the bear market in 2022 bring BTC down to $16,000.
Looking back so far, I see BTC recovering a bit and recovering. BTC almost doubled and went up to $31,000.”
Citing the banking crisis as the reason for this rise in cryptocurrencies, especially Bitcoin, Lee said that after this crisis, many people understand that banks are not always safe.
"The recent banking crisis in the USA showed that the money they invested in people was not always safe and in place.
Realizing that banks could also disappear, people turned to crypto.
Because in crypto you have 'self custody'. So you can keep your cryptocurrencies yourself.
In fact, this way you can become the bank of your own money. You can hold your own crypto without third party or counterparty risk.
It is this feature that makes Bitcoin very, very special.”
Finally, reiterating that Bitcoin and cryptocurrencies are different from traditional finance, Lee stated that crypto should be seen as a safe haven by everyone.
*Not investment advice.