Tron’s Justin Sun: Crypto Bear Market Has Come to An End
Tron’s CEO Justin Sun said in a recent interview with Chinese blockchain news platform Mars Finance that presently, the crypto bear market has come to an end as cryptos hit a bottom.
When asked about his prediction for the digital asset market in 2019, Sun, known for his aggressive marketing strategies, noted that the bear market is over and cryptos have found their absolute bottom at this point when we look back 3-5 years from now.
“ I think Bitcoin’s price will fluctuate between the $3,000 and $5,000 marks in 2019,” said Sun, who added that the market is expected to have three growth engines this year, including an explosion of decentralized apps, the large-scale adoption of Lighting Network and 100 million users of BitTorrent, the world’s largest peer to peer network acquired by Tron last year, rushing to the cryptocurrency space.
To the same question, Changpeng Zhao (also known as “CZ”) , Binance CEO and bitcoin billionaire, highlighted his belief on the future of the cryptocurrency space as well as the blockchain applications. CZ told Mars Finance that he could not predict the price because he is always optimistic about the market, but he believed blockchain technology would mature at a faster pace.
“ Digital currency is not going to disappear, but on the contrary, it will be obtainable to everyone in the future. Therefore, I’m always optimistic ,” said CZ.
Tron’s TRX token, the ninth largest cryptocurrency in the world by market cap, dropped nearly 10% in Sunday crypto bloodbath which wiped out around $11 billion within minutes, falling to $0.024 at press time, showing no buying ahead of the network’s hard fork announced by Justin Sun in a tweet on Saturday. Tron’s protocol update which is scheduled on Feb.28 will ‘intentionally’ coincide with Ethereum’s long-awaited Constantinople upgrade.
Binance’s native token, BNB, also declines in price after a strong growth over the past several weeks. BNB saw a rough 7.2% drop over the past 24 hours and trades at $10.13, according to coinmarketcap.