Even though Bitcoin and the cryptocurrency market isn’t performing as well as investors would like and many people are keeping a safe distance from it, analysts had said that now is the best time to invest in crypto. The Bitcoin bull Zhao Dong has backed this up by saying investors should buy Bitcoin now that the price is low before the price starts shooting.
The Bitcoin billionaire has predicted that the market will start to grow in 2020 and that the leading cryptocurrency could very well reach $50,000 by 2021. Now is the best time to buy says Dong. According to ZyCrypto, Dong said:
“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.”
One thing that Dong is sure of is that the market won’t be doing much growth in 2019. He isn’t the only one who thinks this though as the founder of Litecoin, Charlie Lee predicts that Bitcoin will reach $20,000 in around three years. In addition to these predictions, some fintech experts believe that Bitcoin will gain 84 percent throughout this year alone. This would bring it back near the levels of its all-time high of $20,000.
There are a lot of experts that predict 2019 will be the year for cryptocurrency growth. It is seemingly becoming clear that the growth may not be as significant as is expected. This is partly due to the fact that some developments in the industry that were expected to drive a bull run are not yet ready to go ahead. One thing that is key is the Bakkt Bitcoin trading platform that was to launch early this year but is now expected to come later in the year.
The continuous postponements will keep institutional investors away from the market as long as the infrastructure is still not 100%. There are slight recoveries that the market goes through time to time but they aren’t significant enough to make a full recovery.
Potential investors will have a lot of time to get involved before the bull market which is expected to come years from now.