One of the Biggest Bitcoin OTC Traders in China Advises to Buy Bitcoin When No One Cares
Bitcoin billionaire Zhao Dong, one of the biggest OTC traders has some investment advice for Bitcoin enthusiasts. Although he doesn’t see the crypto winter ending anytime soon, he says that this is the perfect time to stock up on cryptocurrencies.
Zhao is a highly influential member of the Bitcoin community and owns a large stake in Bitfinex, a high volume cryptocurrency exchange used by professional and experienced traders.
Many in the cryptocurrency space regard Zhao as prominent, and he remains active in the community with posts on social media, speeches at conferences, podcasts, and more. When someone as notable as Zhao makes a prediction, people often listen and take it seriously.
Towards the end of 2018, he was quoted as saying:
“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.”
Now, on a WeChat group ‘The Public Chain Alliance Crossing The Bulls And Bears Elite Team’ he said that people won’t care much for Bitcoin till the prices have reached tens of thousands.
“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.”
According to him, 2019 is both the worst time and the best time. This year a large number of crypto companies will struggle to survive and many will die too. However, it is exciting because a new wave of companies will be born at the same time.