Chinese Crypto KOLs Predict Bitcoin Bullish Rally to Come In Second Half of the Year
Industry leaders and key influencers in the Chinese crypto space, bullish on the prospect of bitcoin despite the recent crash, are making predictions that the next bull run may come in the second half of this year.
For those able to see bitcoin’s value, such short-term volatility is entirely irrelevant and can never waver their confidence in the largest cryptocurrency.
Chang Jia, an early bitcoin preacher and founder of China’s earliest crypto news platform 8btc and Bytom blockchain, said in a recent online AMA (Ask Me Anything) that there will be a growing consensus on the expectation of bitcoin being a safe haven after this global financial crunch. He predicted that
“It may peak in the second half of the year during the course from June to October. After the coronavirus pandemic gets controlled, the crypto market may see an unprecedented “retaliatory rally”, the same as the retaliatory consumption out of virus isolation.”
The strong believer of and early investor in bitcoin is known as one of the most dedicated and well-respected bitcoin and blockchain preacher in the Chinese crypto space. He believes that bitcoin is one of the few high-quality safe-haven assets in the world that will surpass gold, giving reasons that bitcoin has no risk of being frozen and confiscated, and it is free of fraud, overissue or centralization, featuring high liquidity across the global market.
Sounds more like a philosopher, he added that the greatest skill that life has learned during the long course of its evolution is to improve its anti-vulnerability, which means to keep alive before the arrival of spring, not only being alive but become stronger after the famine in cold winter.
Others too have recently highlighted the bullish rally of bitcoin to come in the near future. In a recent weibo post, crypto mining pool BTC.Top founder Jiang Zhuoer commented that bitcoin might have released the risks all at once (referring the sharp drop on March 12) and what we can do now is waiting –
“waiting for the outbreak getting controlled (in 1-2 months), waiting for the bitcoin reward halving (less than 2 months), waiting for the consequences brought by central banks’ bailout (in 3-12 months).”
Blockchain expert Liu Changyong also expects the crypto market to rally in the second half of the year, saying that
“The value of cryptocurrency is supported by two parts, one is the ordinary portfolio demand like the mainstream assets, and the other is the innovation investment demand to innovate the mainstream economy. The former demand means it will follow the mainstream assets’ rise and fall, while the latter indicates that it will move in the opposite direction when mainstream assets go up or down. The bull market in 2017 has led to a spike in the former demand, while the recent slump along with the mainstream assets has digested the former demand and seen the proportion of innovation demand increasing.”
The prospects of the next bullish rally coming soon may brighten up the mood of crypto hodlers. Earlier today, crypto analyst Willy Woo also predicted a rally to follow the latest bitcoin dump, and Blockstream CEO Adam Back is expecting that to come sooner, saying “wires in flight to exchanges this week”.
1) plustoken scam sells BTC
2) covid news deleverages stock market
3) BTC leveraged future liquidations triggered by 1+2
3) small BTC reflexivity panic on retail then bounce
4) no cash on exchanges to buy dip
5) wires in flight to exchanges this week
6) what comes next 📈🚀 or ??
— Adam Back (@adam3us) March 18, 2020