Zhao Dong, a Crypto centric Chinese billionaire has commented on Bitcoin’s (BTC) future growth by stating that it’s best to buy and hold on to Bitcoin now more than ever!
The main reason cited for this is the fact that attention will be focused on Bitcoin once the price returns to the tens of thousands.
His comments were made on a WeChat group which translated from Chinese to English is “The Public Chain Alliance Crossing the Bulls and Bears Elite Team.”
He urged the people to stay patient, as 2019 will be the best time for competitive entrepreneurs but the worst time as many companies and projects could die in the bargain of the bear market.
“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.”
At the time of writing Bitcoin is valued at $3,575 having lost over 80% from the all-time high. Mr. Dong also believes in the term “Buy the Dip” which basically means buy when Bitcoin drops in price and sell at the top.
“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], I start to talk people into buying Bitcoin.”
But the market psychology is the opposite of this, instead of buying people sell when the price drops and get persuaded to buy when the price starts appreciating again.
Zhao Dong is known to be one of the largest Cryptocurrency over-the-counter traders in China. However, he did incur huge losses at the beginning which even led to him being suicidal. He entered the cryptocurrency market with about 10 million Yuan and started losing at high levels leading to 60 million Yuan in debt to his friends who were lending him money. He had apparently lost 9,000 BTC during February 2014!
However, his determination and perseverance have led to him becoming a billionaire and so he is walking the talk instead of plain positivity to help the cryptocurrency market.
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