Crypto industry veteran and early Bitcoin OG Bobby Lee says that bad actors ignorant of regulation have to be expunged from the market.

In a new interview with Bloomberg Markets Asia on Yahoo Finance, Lee, co-founder of Hong Kong-based crypto exchange BTCC, reveals what price he expects Bitcoin (BTC) to bottom out at the end of the bear market.

“[Bitcoin] has crashed down to below $16,000. Previously, I’ve said that it will probably go to $15,000. Given the magnitude of the FTX blow-up, it could go down to $13,000 or even touch $10,000. That’s going to be a very, very drastic crash. There has to be more bad news to come out."

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