Despite the fall of Bitcoin and the high probability that the price will drop further, the well-known Chinese OTC trader and founder of Dfund Zhao Dong is optimistic about the future of the main cryptocurrency . In his opinion, now is the right time to buy Bitcoin, writes News.8btc .
According to CoinMarketCap, on Wednesday the price of BTC reached a new 13-month low of about $ 4,277, having decreased by 25% in two days. Of course, this event has caused a lot of questions: will the digital currency reach a new maximum? If yes, then when?
Zhao Dong, who sees Bitcoin as an asset for buying and selling, advises cryptoinvestors to buy it now with any available funds.
“I did not persuade users to buy Bitcoin at the stage of the bull market, because, at first glance, this is an easy way to make quick money, although in reality it is not. Now I recommend buying Bitcoin, ” Zhao wrote on Wednesday in Weibo, the Chinese equivalent of Twitter.
He believes that now there are good investment opportunities on the market, because public interest in digital assets is low, but investors should always act prudently.
“Those who operate with huge amounts of money are not in the habit of thinking about short-term speculative investments ,” Zhao said.
Despite the fact that the cryptocurrency market can continue to move in the red zone, the trader suggests a recovery within 3 years.
“Perhaps the price of Bitcoin will fall even lower, say, to $ 0.50. I am convinced that you need to buy coins whenever a new minimum is reached. After three years, your income can be 100-200% , ”said Zhao.
According to a professional trader, in 2021, the price of Bitcoin will reach $ 50,000-100,000.
Zhao entered the Bitcoin market in 2013 with an initial capital of 10 million yuan, during the year they turned into 100 million yuan. However, excessive optimism and reassessment of the situation forced him to open positions with a large leverage.
As a result, Zhao turned out to owe his friends 60 million, having lost 9,000 bitcoins in just one day in February 2014. Therefore, he advises investors to treat cryptocurrency investments very carefully.