It is a global fact that the Cryptocurrency market, as well as Bitcoin, is in bad shape. Currently, there are so many individuals staying away from the crypto sphere since no one wants to lose their money.
However, some professionals think otherwise, i.e., they believe that no one should stay away from the crypto sphere. These professionals think it is the greatest time actually to invest in the crypto market.
Moreover, Chinese Bitcoin billionaire and Bitcoin bull, Zhao Dong has confirmed the belief of the professionals. He is of the opinion that investors should start buying Bitcoin since the price is low.
For him, it is better to buy now before the price goes on a hike and investors will not have the resources to buy into the Bitcoin.
Zhao Dong’s Predictions
The billionaire is also predicting that the crypto market will rapidly increase in the year 2020. In the same vein, Bitcoin will possibly attain the sum of $50000 by the year 2021.
Therefore, with this prediction, the year 2020/2021 will not be the best time to buy Bitcoin. Rather, this is the time to buy and hold on to Bitcoin. Investors will have to buy and hold on to it as they await the predicted price rise.
According to Zhao Dong, if attention is not given to the Bitcoin market now, much attention will not be on the coin anymore. And so, if individuals believe in the future of Bitcoin, it is better to hold on to it now that most people do not care about it anymore.
Ultimately, he is of the affirmative that Bitcoin will not increase in this year 2019. This very prediction goes in line with that of LiteCoin’s founder; Charlie Lee and financial technology professionals.
According to Charlie Lee, it will take Bitcoin three years to reach $20000. And for the financial technology professionals, they predicted that Bitcoin would attain 84% in this year 2019.
Furthermore, Bitcoin will reach $9500 by the end of 2019 and will not increase beyond it. Therefore, all three predictions agree on the same thing.
It implies that the price of Bitcoin will not increase swiftly but slowly. This slow increase will be continuous until the coin experiences a large bull run in the coming years.
Bitcoin In 2019
The year 2019 was thought of to be a great year for the rapid increase of Cryptos. However, it is quite transparent that the increase may likely not be so significant as it was initially expected.
This change is as a result of the advancement in the industry. These advancements were expected to facilitate a bull run. However, the requirements were not out in the right positions.
One of the major requirement was the launch of Bakkt bitcoin. It was to be a trading platform that would make its debut in the early quarter of 2019. Meanwhile, it is currently expected to be launched in the later parts of the year.
To Wrap It Up
Delays like the Bakkt Bitcoin trading platform will only make institutional investors stay away from the bitcoin market. This is a fact since the vital infrastructures are not placed on time.
The bitcoin market might experience little recovery, but that will be all if a convenient environment is not positioned on time for a bull run.