0
📰 News
1075 views

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

ByBit
  • Yuri Molchan
    📰 News

    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

Bitmain Co-Founder Jihan Wu on Bitcoin and Crypto: ‘I’m Quite Optimistic about the Price’
Cover image via www.forbes.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

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.”

👉MUST READ

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

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!

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

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.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted
0
📰 News
442 views

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff

ByBit
  • Alex Dovbnya
    📰 News

    Gold proponent Peter Schiff thinks that Bitcoin evaporating its 40 percent pump proves that it's a pump-and-dump scheme

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Euro Pacific Capital CEO Peter Schiff has come up with a new insult for Bitcoin, calling it "a classic pump-and-dump scheme."

👉MUST READ

Peter Schiff Reacts to Sudden Bitcoin Price Drop: "Get Ready for the Dump!"

Peter Schiff Reacts to Sudden Bitcoin Price Drop:

"You're being played"

Schiff continues to assert that Bitcoin's 40 percent pump on Oct. 25 was the result of price manipulations. The fact that Bitcoin's has completely trimmed these gains in just four weeks definitely flies in the face of bulls.

The gold bug explains that the pump was meant "to sucker in" momentum buyers to dump their bags later. This is supposed to be a wake-up call for all buyers.

Earlier, Schiff lambasted Bitcoin holders for not being able to see through the shenanigans of whales who are selling their coins on the verge of a major price.        

👉MUST READ

Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

Other bears are waking up 

Mark Dow, the trader who famously shorted Bitcoin at its current all-time high, recently resurfaced on Twitter with a succinct "Bitcoin is dying" tweet, which came in handy right on the verge of Bitcoin's drop to the $7,500 level.     

While some bulls might be tempted to dismiss Bitcoin price moves recorded on the lower time-frames as "noise," the long-term picture is also gloomy. As reported by U.Today, crypto market analyst Willy Woo opined that Bitcoin might not replicate the success of previous halvening cycles due to its unusual bearishness. 

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted