Zhao Dong, Bitcoin billionaire and one of China’s biggest OTC traders, has taken to WeChat to opine on the industry. He predicts no thaw of crypto-winter this year, but says now is the best time to stock up and hodl.
The Public Chain Alliance Crossing The Bulls And Bears Elite Team
Dong made his comments in the WeChat group for ‘The Public Chain Alliance Crossing The Bulls And Bears Elite Team’. One can only hope that sounds better in Chinese.
He said that obviously fewer people are following bitcoin now than during 2017’s bull run, hence the natural price drop. Furthermore, he suggested that these people would not start paying attention again until the price returns 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.
A Man For All Seasons (Except Autumn)
When asked about industry trends, he said that for 2019, everyone should just try to have a good winter. 2020 would bring the spring, he thought, with summer not expected until 2021. Incidentally, back in November 2018, Dong predicted a bitcoin price of $50,000 by 2021, on microblogging site, Weibo.
He explained his rationale for investing, and why to buy in a bear market, thus:
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 [in the bear market],