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Chinese Bitcoin Billionaire Zhao Dong Believes Crypto Spring Will Come in 2020

The Chinese supposed Bitcoin (BTC) billionaire Zhao Dong hopes that the crypto spring will only arrive in 2020. Also, his opinion, segmented in a public chat in local messenger WeChat, was cited by Chinese crypto outlet 8BTC on Feb. 12, Tuesday.
Zhao Dong, who possesses a considerable stake in Hong Kong-associated crypto exchange Bitfinex, has lately contributed in a conversation conducted in the chat called “The Public Chain Alliance Crossing the Bulls and Bears Elite Team.”
And when inquired about the future of BTC, Zhao Dong remembered the peak of the coin’s reputation in December 2017. As compared to that time, no one upkeep about BTC today, he stated, supplementing that the coin will derive attention again only when its rate approaches “many tens of thousands of dollars” once yet again.
Consequently, in the entrepreneur’s opinion, a bear market is the perfect time to purchase BTC. In addition to it, Zhao Dong also mentioned that 2019 will be a year of low crypto values, stating that the industry requires bracing itself for additional various months of crypto winter. Also in his opinion, many institutes will vanish in the course of the period, but new ones will unavoidably evoke to make 2019 both the best and the worst time for entrepreneurs and investors.
And as for the long-term viewpoint, Zhao Dong mentioned in the chat that the crypto spring is only arriving in 2020, whereas the crypto summer will not come until 2021.
The crypto winter is a term practiced by industry insiders to determine the protracted bear market that came into being early after BTC had approached its historical peak of $20,000 during December 2017.
Founders of crypto dealing podium Gemini, well-known crypto bulls Tyler and Cameron Winklevoss, once stated that they feel “totally at home in winter,” mentioning that “it gives us time to build internally, and refine and kind of catch our breath.”
Also, Zhao Dong is not the only main player to forecast crypto market retrieval. New York-associated research corporation Fundstrat Global Advisors has lately launched a 2019 crypto outlook, in which the company explains incremental developments that will supposedly support higher prices for digital currencies.
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