China’s Bitcoin Billionaire Zhao Dong: Crypto Spring will Only Come in 2020, but Now is the Time to Buy Bitcoin
Zhao Dong, one of China’s most influential bitcoin billionaire and a well-known OTC trader, took to the popular messaging app WeChat on Feb.11 to reaffirm his opinion about the cryptocurrency industry, saying the bear market will extend throughout 2019, and now is the best time to buy and hodl bitcoin.
During a discussion in a WeChat group called ‘The Public Chain Alliance Crossing The Bulls And Bears Elite Team, Mr. Zhao noted obviously fewer people are caring about bitcoin now than during the epic bull run in 2017, resulting in the natural price drop.
“ For most people, if they do not pay attention to bitcoin now, they will not pay much attention to most of the time,” Mr. Zhao said, “ and they will notice the market again only when bitcoin reach a height of many tens of thousand of dollars.”
The bitcoin tycoon advised bitcoin believers to stock up on as many bitcoins as possible when nobody cares.
When asked about crypto industry trends, Mr. Zhao is cautiously optimistic about the long-term value of bitcoin. He pointed out that everyone needs to batten down hatches for the prolonged crypto winter this year, but spring will only come in 2020, while summer will not arrive until 2021.
He reminded investors not to be too optimistic or pessimistic. “ More crypto projects and companies will die this year, but meanwhile the next wave of more promising ones will emerge from ashes, making 2019 both the best time and the worst time for investors and entrepreneurs.” Mr.Zhao said.
He went on to explain the reason behind his words. “2019 will see good projects are cheaper to invest in and entrepreneurs will benefit from less competition.
“The only thing you need is patience.” Mr. Zhao explained.
Back in November 2018, Mr. Zhao addressed his followers on Weibo that the bitcoin market has 4 seasons, “we’re now still in the Autumn of bitcoin, next year would be the winter.”
“In the bull market, I don’t persuade people to buy Bitcoin, because it seems easy to make quick money but in fact it is not.Now I start to talk people into buying Bitcoin.” He said. Though the cryptocurrency can touch lower prices, he predicted that bitcoin will reach at least $50,000 by 2021.