Billionaire Says Bitcoin Could Reach $50,000 In Three Years
Zhao Dong, an important Bitcoin billionaire in China, showed his optimism for Bitcoin (BTC). He wrote on Weibo, the so-called Chinese Twitter, that in the next years Bitcoin could reach $50,000. Nevertheless, he said that before reaching this target, Bitcoin could hit lower prices.
Zhao Dong Bullish About Bitcoin’s Future
The cryptocurrency market has been in a bear market since the beginning of the current year. However, in the last days, Bitcoin and other virtual currencies plummeted even more. Bitcoin, for example, reached $4,000 dollars in some exchanges.
There are some figures around the world and crypto experts that believe that in the future Bitcoin and virtual currencies will reach new highs. One of the most important Bitcoin billionaires in Asia, Zhao Dong, is very bullish about the potential that Bitcoin has.
In the popular social media in China, Weibo, he wrote that every time Bitcoin hits new lows is still worth to acquire coins. He said about it:
“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 I start to talk people into buying Bitcoin.”
Dong said that the most important investors do not plan their investments for the short term, they think about the future. He explained that Bitcoin could grow between 100 to 200 percent in the next three years.
“Those who make truckloads of money do not have a very short-term speculative driven investment mindset,” he wrote. “Perhaps Bitcoin price will continue to drop even lower, and it may fall up to 50 percent. But it still worth steadily acquiring coins every time it hits a new lowe. You possibly see a yield of 100 to 200 percent in 3 years.”
Mr. Dong thinks in the same way as many other figures and investors all over the world. Thomas Lee, for example, is very bullish about Bitcoin’s future, even this year. He said that before 2019, Bitcoin will reach $15,000 before the end of the current year. Tim Draper, Michael Novogratz, and John McAfee have also a bullish stance towards Bitcoin for the future.
Bitcoin is currently being traded under $4,000 dollars, according to CoinMarketCap. It has a market capitalization of $68.86 billion dollars and it has lost 8% of its value in the last 24 hours. There is no top-10 crypto operating positively.