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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.

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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.

COMMENTS(26)

  • 美學士 / しげき
    7 months ago 美學士 / しげき

    @xi_xoO フォロワーの増やし方を教えてください(フォローありがとうございます

  • 美學士 / しげき
    7 months ago 美學士 / しげき

    片思いされてたのか……全然知らなくてごめん……いつフォローしてくれたのだろうか
    56人しか生きてなくて笑う

  • Password Coach
    6 months ago Password Coach

    Do you trade in #cryptocurrencies? If yes, there’s a good chance that a #phishing attack is coming your way later this year. If you don’t know how to spot one (100% of the time) then find out at Password Coach (No link given. That would be phishing!)http://news.8btc.com/99-hackers-eye-on-cryptocurrency-we-never-buy-it-we-steal-it …

  • 8BTCnews
    6 months ago 8BTCnews

    China’s Bitcoin Billionaire Zhao Dong: #Crypto Spring will Only Come in 2020, but Now is the Time to Buy #Bitcoin | http://NEWS.8BTC.COM 
    #cryptowinter @APompliano @HubrisOne @Hodl8333 ,https://news.8btc.com/chinas-bitcoin-billionaire-zhao-dong-crypto-spring-will-only-come-in-2020-but-now-is-the-time-to-buy-bitcoin …

  • 6 months ago kamoney

    Pague com Bitcoin, Ethereum, Litecoin, Zcash, Dogecoin, Decred, Dash, Bitcoin Cash, Ether Classic, Lisk, Stratis, Digibyte, Bitcore, SmartCash e Experience Points seus boletos, realize transferências bancárias, faça recargas de celular pré-pago ou compre produtos digitais em http://www.kamoney.com.br

  • 世田谷リーマン
    6 months ago 世田谷リーマン

    中国のビットコイン長者からのアドバイス
    “The bitcoin tycoon advised bitcoin believers to stock up on as many bitcoins as possible when nobody cares.”https://news.8btc.com/chinas-bitcoin-billionaire-zhao-dong-crypto-spring-will-only-come-in-2020-but-now-is-the-time-to-buy-bitcoin …

  • 8BTCnews
    6 months ago 8BTCnews

    Major Mining Pool #F2Pool Votes ‘Yes’ For the Implementation of #ProgPow on #Ethereum
    @hudsonjameson @satofishi @f2pool_official #ASIC ,https://news.8btc.com/major-mining-pool-f2pool-votes-yes-for-the-implementation-of-progpow-on-ethereum …

  • Boxmining
    6 months ago Boxmining

    Keep calm and HODL on? Chinese #Bitcoin millionaire says now is the best time to buy #Btc and predicts prices will reach at least US$50,000 by 2021.
    https://news.8btc.com/chinas-bitcoin-billionaire-zhao-dong-crypto-spring-will-only-come-in-2020-but-now-is-the-time-to-buy-bitcoin …pic.twitter.com/kNJoP9R626

  • Bangarang
    6 months ago Bangarang

    but a loaf of bread will cost $100

  • Skiing the Block Chain
    6 months ago Skiing the Block Chain

    random investing advice

  • RageGaugeGamerz
    6 months ago RageGaugeGamerz

    Why do you call yourself box mining when to my limited knowledge you don’t box or mine?

  • Salty
    6 months ago Salty

    This is ridiculous, it will be $72k at this time, topping out at $78k. Stop loss set at $57k, yew heard it here furst….

  • Herol
    6 months ago Herol

    Enough with bullshit btc price predictions

  • cryptyonaire
    6 months ago cryptyonaire

    Oh right Yh, after he’s bought as much as he can afford he then out of the goodness of his heart tells us to buy it now because it will be $50k soon, these pump and dumpers are getting better every day

  • CryptoEpic
    6 months ago CryptoEpic

    How come they are all making these predictions?!

  • Patrick Rogers
    6 months ago Patrick Rogers

    I just read the coinbase tax faq section and yes the IRS says even if you hodl you must be taxed. Unless your paying cash p2p its being reported. Thought that was interesting I lost $ this year so maybe a benefit

  • Chocolate Piano
    6 months ago Chocolate Piano

    “#buttcoin could reach $50,000 by 2021 says some guy”

  • ₿igfoot
    6 months ago ₿igfoot

    Cool but I want $2.50m

  • Ruffy
    6 months ago Ruffy

    pic.twitter.com/187EDcwQW0

  • 8BTCnews
    4 months ago 8BTCnews

    Many Chains, Many Cryptos, and One Ecosystem— 8BTC Boost’s Dialogue with Cosmos | http://NEWS.8BTC.COM  @cosmos @tendermint_team @sunnya97 @chjango #Crypto
    https://news.8btc.com/many-chains-many-cryptos-and-one-ecosystem-8btc-boosts-dialogue-with-cosmos …pic.twitter.com/0xI1vMBFWV

  • 8BTCnews
    4 months ago 8BTCnews

    Chinese Listed Company Lost over $23 Million for Its Secret #Crypto Mining Business | http://NEWS.8BTC.COM  #GMO #Bitmain #Canaan #Ebanghttps://news.8btc.com/chinese-listed-company-lost-over-23-million-for-its-secret-crypto-mining-business …

  • Vinent he
    3 months ago Vinent he

    Major Differences Between Cosmos and Polkadot; Two Distinct Philosophy of Inter-Blockchainhttps://news.8btc.com/major-differences-between-cosmos-and-polkadot-two-distinct-philosophy-of-inter-blockchain …

  • Vinent he
    3 months ago Vinent he

    Bytom Gave Birth to the First Blockchain-Based Membership Certificate in Chinahttps://news.8btc.com/bytom-gave-birth-to-the-first-blockchain-based-membership-certificate-in-china …

  • Michael
    2 months ago Michael

    This was 2016

    Support of this comes from the IMF CharterArticle 18:Allocation and Cancellation of Special Drawing Rightshttps://news.8btc.com/blockchain-based-esdr-to-address-liquidity-shortage-in-2017 …

  • Investment Perspectives
    2 months ago Investment Perspectives

    You are soo cool! +0.137 @xrptipbot

  • MizzC
    2 months ago MizzC

    that is some deep stuff. here i go, more research. Thanks Michael for giving me work to do. I cherish these moments. More importantly, I know/understand what I have my $$ invested in.

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