Zhao Dong, a well-known over-the-counter crypto-trader and one of the most influential billionaires in Chinese crypto-industry, believes the current bear market will end soon.
An imminent rise in market prices
Via Weibo the Chinese version of Twitter, Zhao Dong spoke about his opinion on the price fluctuation of cryptocurrencies. Also a majority shareholder in the Bitfinex crypto-bourse and founder of the RenBit cryptocurrency loan platform, community members are following Dong’s forecasts closely.
“The next three months could be the last opportunity for bottom fishermen, and after that, the cryptocurrency market will enter a spring and summer season, which should pick up with the Chinese stock market in 2021. There is still ups and downs, like the cycle of the seasons. “
Zhao Dong has already compared price volatility to the four seasons in his previous statements. While the month of November is marked by the autumn season, the year 2019 represents the winter. This means that the price of Bitcoin will triple in three months. It went from $ 4,000 to $ 13,000 from April to mid-June.
Total BTC reserves on @renrenbit hit over 10,000 today! BTC reserves increase 3 times within 45 days. Power of 100% transparency! stay tuned! Join us on https://t.co/x1wn7K9N3o @zhaodong1982 pic.twitter.com/S5hvWEwIjX
— RenrenBit Official (@renrenbit) September 12, 2019
Bitcoin will fall on three months
The comments of Bitfinex’s shareholder influence many enthusiasts and inspire Chinese crypto-investors. According to Dong’s forecasts, Bitcoin has a downward trend of three months before recovering in early 2020.
The businessman started investing 10,000,000 yuan in 2013 . His temerity has cost him a lot of money, given the major collapse of crypto-currencies this year. He lost 9,000 BTC in one day, forcing him to open highly indebted accounts in February 2014. Nevertheless, he was able to restore the state of its finances in three years.
What do you think of Zhao Dong’s bullish forecast? React in the comments below.