Respected Chinese Crypto Miner of Poolin Believes Bitcoin Could Scale up to $738,000 Price in the Future
According to the Zhu Fa, the co-founder of Poolin (a Chinese crypto mining firm), the price of Bitcoin (BTC) could scale up to a staggering 5 million Yuan (USD $738,000 approx) in the coming few years.
On the matter, Zhu has stated that while investor sentiment regarding the crypto-market has been largely bearish over the past year or so, he still believes that as-and-when the next bull run hits, the price of most major alt-coins will grow by a factor of 10–20 times. In addition to this, Zhu was also quoted as saying that the next bull run witnessed by the crypto industry could very well be its last.
Recent predictions made by crypto experts in relation to the future of the altcoin-market have been quite varied. For example, last year multi-millionaire Tim Draper went on record to state that by the end of 2022, the value of Bitcoin could scale up to a staggering price point of USD 250,000.
Similarly, a few days back, Barry Silbert of Digital Currency Group and Grayscale Investments, stated that as we move deeper into 2019, the value of most major altcoins will slide to “Zero”.
On the subject, he also added:
“Almost every [initial coin offering] ICO was just an attempt to raise money but there was no use for the underlying token.”
In rounding off this piece, it is worth noting that Zhu’s BTC operation, Poolin, currently lays claim over “10.45 percent of the asset’s global mining share”. However, as many of our readers are well aware of, the recent bear market has hit the mining sector hard— with many of the firms operating within this bitcoin mining space recently selling off a bulk of their equipment to minimize their losses.
In this regard, it is also worth mentioning that just a few hours back, United Kingdom-based mining operator Argo Blockchain released a statement saying that in order to stay relevant, the firm was re-focusing its business plans. To this effect, the company will now be getting rid of its Mining-as-a-Service (MaaS) operations within the coming 2-3 months.