Zhao Dong, Bitcoin billionaire and one of China’s biggest OTC traders, has shown an opinion on the industry. He predicts no thaw of crypto-winter this year but says now that this is the best time to stock up and hold.
Zhao Dong Made HisComments
Zhao Dong said that certainly fewer people are following bitcoin nowadays than during the last few year’s bull run, hence there is a natural price drop. Further, he suggested that these people will not start paying attention on cryptocurrencies again until thepricereturns to tens of thousands.
For most people, if they don’t pay attention to Bitcoin now, they won’t pay much attention to most of the time, so for them, only how many tens of thousands of bitcoins will break them will be noticed again. If you and I believe in the future of Bitcoin, so it is best to hold as much as possible when nobody cares.
The Season Metaphor
When Zhao Dong was asked about his opinions on the industry trends, he said that for 2019, everyone should just aim to have a good winter. 2020 would bring the spring for the owners, he thought, summer was not expected until 2021. Back in November 2018, Dong predicted a bitcoin price of $50,000 by 2021, on microblogging site, Weibo.
The Best of Times and The Worst of Times
For 2019, Dong cautioned investors not to be too optimistic or pessimistic, advising that more companies and projects would die in the coming period. However, he said that some hope will be born because the next wave of projects will emerge from this period pnly.
He said this would make 2019 both the best time and the worst time for entrepreneurs and investors for sure. Despite the deaths of more companies and projects in the current scenario, good projects are cheaper to invest in for entrepreneurs and they can take advantage of competitors at their lowest point.
The only thing you need is patience.Dong signed off saying this
Do you agree with Zhao Dong that patience is key? Share your thoughts with us in the comment section!