Bitmain Co-Founder Jihan Wu on Bitcoin and Crypto: ‘I’m Quite Optimistic about the Price’

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Thu, 10/24/2019 - 14:13
Yuri Molchan
Jihan Wu speaks of a possible impact of the 2020 halving on the Bitcoin price and of the bullish periods to follow the recent crypto winter
Cover image via www.forbes.com
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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.

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.”

Related
Bitcoin Price May Plunge to $6,000 before Surging Ahead of Halving, Says Major Crypto Investor

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!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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