Bitcoin is long overdue for a "FOMO rally" to new all-fourth dimension highs that could touch $200,000 or more than, say i of its oldest investors.

In an interview with Bloomberg on Sept. 29, Bobby Lee, former CEO of exchange BTCC, cast bated any suggestion that the toll of Bitcoin (BTC) was in trouble.

Lee: Bitcoin has been due for adjacent rally "for a long time"

1 of an increasing number of sources staying bullish on Bitcoin for Q4, Lee — who went on to found wallet manufacturer Ballet — dismissed contempo price weakness.

"It was only a 5% drib," he said when asked about the recent dip to test the $40,000 support level.

Despite hovering near $42,000 at the time of writing, Bitcoin can non only reclaim its existing best highs but go on to hitting $100,000, $200,000 or even more.

This, Lee suggested, should come — or at least brainstorm — before 2022 is out.

"I retrieve you'll hands get over $100,000, and then depending on how abrupt the rally is, it'due south also likely to touch $200,000 or even become in a higher place that," he said.

"Obviously, going above $200,000 is a huge milestone, so in that location'll exist a lot of media coverage, and that's what leads to a what they call a 'fear of missing out' rally. More often than not, that happens every few years, and I call back a FOMO rally for Bitcoin has been due for a long time at present."
BTC/USD one-twenty-four hour period candle chart (Bitstamp). Source: TradingView

Practiced things come up to those who wait (till October)

As Cointelegraph reported, September is expected to disappoint bulls until the stop, with only next calendar month providing more hopeful conditions for a return to the BTC bull run.

Related: Only another bubble? Bitcoin cost tops follow Chinese debt cycles, new inquiry shows

Upcoming hurdles include Sept. 30'due south scheduled vote by the United States Congress on the "infrastructure bill" and Oct. i'southward $3 billion options expiry, this immediately following the monthly close.

A BTC price dip to the mid-$30,000s range is a popular talking point at nowadays, with such an result nevertheless slated to not last long before optimism takes over marketplace sentiment over again.

Meanwhile, Cointelegraph contributor Michaël van de Poppe was impressed with price beliefs on the mean solar day.

"Decent bounce of Bitcoin today. Equity markets too bouncing nicely," he noted.