In a recent interview, the founder and former CEO of the mining heavyweight Bitmain, Jihan Wu, expressed his opinion about the upcoming Bitcoin halving event and the crypto market overall.
‘I’m quite optimistic about the price’
Even though the young crypto billionaire and entrepreneur did not name any particular cryptocurrencies, it was likely that when speaking about a halving, it was Bitcoin he kept in mind.
"I'm quite optimistic about the price."— Bitcoin.com Official (@BitcoinCom) October 24, 2019
Jihan Wu of @BITMAINtech makes a bold prediction about the price of cryptocurrencies in the coming years.
What do you think? Do you share his optimism? pic.twitter.com/0BBdPHJIPq
He stated that historically a halving would make the price surge and that we will see in 2020 whether it will work on not.
“According to the historical experience, at the halving event the price will usually surge. But whether this is just coincidence or it will be happening again, we will see.”
“But even if we don’t consider the halving, I think the crypto price will have quite good years in the coming 2 or 3 years.”
Jihan Wu speaks about the crypto market in general
As for the cryptocurrency market, Wu stated that the cryptocurrency market is a highly cyclic one. This means that after the year of the bearish market that the world has had there should be two or three bullish years.
“We will also see more retail users, institutional investors getting into the industry, so I’m quite optimistic about the price.”
Do you agree with Jihan Wu's forecast? Feel free to talk to us in the comments section below!