Chinese alleged Bitcoin (BTC) billionaire Zhao Dong believes that the crypto spring will only come in 2020. His opinion, shared in a public chat in local messenger WeChat, was cited by Chinese crypto outlet 8BTC on Tuesday, Feb. 12.
Zhao Dong, who owns a substantial stake in Hong Kong-based crypto exchange Bitfinex, has recently participated in a discussion held in the chat dubbed “The Public Chain Alliance Crossing The Bulls And Bears Elite Team.”
When asked about the future of BTC, Zhao Dong recalled the peak of the coin’s popularity in December 2017. In comparison to that time, no one cares about BTC today, he noted, adding that the coin will draw attention again only when its rate reaches “many tens of thousand of dollars” once again.
Therefore, in the entrepreneur’s opinion, a bear market is the best time to buy BTC. Zhao Dong also added that 2019 will be a year of low crypto prices, noting that the industry needs to brace itself for another several months of crypto winter. In his opinion, many companies will disappear during this period, but new ones will inevitably emerge to make 2019 both the best and the worst time for investors and entrepreneurs.