Ballet App Founder Bobby Lee: Spring is Coming for Bitcoin

Bobby Lee, the founder of Ballet and former CEO of BTC China, has expressed optimism about signs of recovery in the crypto market after the 2022 crypto winter in an interview with Bloomberg TV.

He has noted that cryptocurrency has four-year cycles, and that the current market is nearly recovered. He attributed this to the realization that funds in banks may not be secure, as they can be loaned out to other companies.

Lee has highlighted the self-storage and control over resources offered by cryptocurrencies like bitcoin. He also praised the US regulatory regime for its maturity and shift towards a more favorable attitude towards the crypto industry.

Additionally, he has praised the Hong Kong authorities for their adoption of digital asset regulations. His comments echo the sentiments of Glassnode analysts, who recently reported the end of the bearish phase of the bitcoin market.