Bitcoin could surge to $300,000 “” but winter could last for years when the bubble bursts, says crypto entrepreneur

Bitcoin could surge to $300,000 “” but winter could last for years when the bubble bursts, says crypto entrepreneur

Bitcoin could soar as high as $300,000 in the current bull market based on its historical patterns, according to Bobby Lee, co-founder and former CEO of crypto exchange BTCC.

However, he warned that the bubble will burst after peaking and the cryptocurrency could see declines for years.

"Bitcoin bull market cycles come every four years and this is a big one," said Lee, who is currently the chief executive of crypto wallet Ballet. "I think it could really go up to over $100,000 this summer."

Two of these "mega bull market cycles" have occurred over the last eight years, he told CNBC's "Squawk Box Asia" on Monday, pointing out that the last one was in 2017, when the price of bitcoin surged to nearly $20,000 by the year end from about $1,000 earlier that year.