The on-going Bitcoin bull market may accelerate around the month of September and then start to slow down by the month of June of next year before entering a bear market, according to the CEO of BTC.Top, Jiang Zhuoer, one of the biggest crypto mining platforms in China.
“BTC could tip between this September and next June, targeting $150,000-$300,000. The current price level is definitely not reaching a peak. The attention and popularity around bitcoin has not reached the level we saw in the past bull market.”
Jiang also went on to explain his rationale: “After Tesla purchased $1.5 billion in BTC and Meitu purchased $90 million in BTC and ETH, there are no other large, listed companies in North America and Asia to follow up.”
The CEO of BTC.Top also mentioned a potential shift in US monetary policy as being a headwind for crypto. As the global economy starts to recover, the policies may start to tighten as well, especially around risk assets such as Bitcoin.