Zhao Dong, a Chinese-based cryptocurrency influencer and one of the biggest Bitcoin OTC traders in China, recently made some bullish price predictions for Bitcoin (BTC).
Via Weibo, one of the most popular social media platforms in China, Zhao sent a message to his followers informing them now is the time to be bullish. He predicts the price of Bitcoin will be through the roof in 3 years’ time.
According to Zhao, Bitcoin’s price will reach no less than $50,000 by 2021. While Zhao acknowledged the price could fall even lower, he is still very bullish and convinced that now is the time to be buying and holding Bitcoin (BTC).
Furthermore, he added:
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. Those who make truckloads of money do not have a very short-term speculative driven investment mindset. Perhaps Bitcoin price will continue to drop even lower, and it may fall up to 50 percent. But it is still worth steadily acquiring coins every time it hits a new low. You possibly see a yield of 100 to 200 percent in 3 years.
Who is Zhao Dong?
Zhao is a highly influential member of the Bitcoin community and is one of the biggest OTC traders in China. Known as “China’s Bitcoin billionaire” he owns a substantial stake in Bitfinex, a high volume cryptocurrency exchange used by professional and experienced traders.
Many in the cryptocurrency space regard Zhao as reputable, and he remains active in the community with posts on social media, speeches at conferences, podcasts, and more. Most recently, he was featured at the Crypto Intelligence conference along with Charlie Shrem in Las Vegas.
When someone as notable as Zhao makes a prediction, people often listen and take it seriously. Zhao’s recent prediction joins the ranks of positive predictions by influential experts such as John McAfee, Tom Lee, Mike Novogratz, and Tim Draper.
Even Zhao’s bullish prediction of $50,000 by 2021 is conservative compared to some predictions made by those mentioned above. For example, Draper sees Bitcoin at $250,000 by 2022 and McAfee sees Bitcoin at a whopping $1 million by 2020.
It appears more and more experts in the crypto space are making bullish predictions for Bitcoin, despite the dramatic downfall in its price. At the time of writing, Bitcoin (BTC) is currently trading at $3800, which is roughly 80% down from its all-time high.
What do you think of Zhao’s Bitcoin price prediction? Are you bullish on Bitcoin despite the recent crash in price? Let us know in the comment section below.