Chinese Bitcoin Billionaire: The Big Bull Market will Come After 2 Years, but Bitcoin will not Drop Below Half of its Current Price
As we are shifting to the last quarter of 2018, more and more crypto investors and insiders, including Binance’s CEO Changpeng Zhao, start to believe the bull market will return as the “bull rhyme” may take place during Christmas time. Which bring back the fond memories of Bitcoin’s nearly $20,000 price spike at the very end of 2017.
Of late, Zhao Dong, the prominent Chinese early bitcoin adopter, as well as the shareholder of Bitfinex and founder of Dfund demonstrated his point of view on the value investing in cryptocurrency and makes prediction on the Bitcoin market.
Zhao said the, people always call Bitcoin as a bubble, but willing to embracing blockchain. However, he argues that it should be the other way around. Zhao indicated that, most of the blockchain projects are bubbles while the Bitcoin is the “pre-fait money” in the crypto world which is the a consensus in the crypto communities.
Although the cryptocurrency market is trapped in continuous sluggish recently, Zhao is still quite optimistic about this nascent asset. He said that, investors should stay calm in a bull market, but when we are in a bear market, we need to “top up our belief and worship”.
When Zhao was asked about whether we are head into the end of the bear market, he answered that:
“It still requires 2 years to see the big bull market returns. However, the currency Bitcoin price is already pretty cheap compares to a few years later. Even in the worst case Bitcoin price will not drop below half of its current trading value.”
Zhao also emphasized that value investing is the core in the crypto market “Real value investors should prefer a bear market where they can find many bargains as good projects are usually underestimated in such a sluggish. Of course, it’s no use just buying good coins cheaply, you need to hodl it for the long term.”