One of the most prominent Bitcoin (BTC) mining moguls of mainland China, Jiang Zhuo'er, shares an extremely optimistic thread for Bitcoiners (BTC).
No more prolonged bear markets for Bitcoin (BTC)
Mr. Jiang Zhuo'er has taken to Twitter to share his estimations of mid-term Bitcoin (BTC) price dynamics. As the digital gold is back to surging after dropping to $32,500, he is sure that the bear market is not there.
1. Why does #Bitcoin rise again?— Jiang Zhuoer BTC.TOP (@JiangZhuoer) February 9, 2022
It is very normal that #cryptocurrencies soar as they have a mature technology & ecosystem, daily increased users and significant inflow of funds.
Price rally becomes normal, unlike the drawdown, there’s no specific reason behind price increase.
In 2022, the Bitcoin (BTC) price upsurge is driven not by speculation, but by the adoption and growing userbase of the first cryptocurrency, Mr. Jiang Zhuo'er adds.
Moreover, according to him, Bitcoin (BTC) might never see another "deep" bear market. By "deep," an analyst means a situation of prolonged and profound correction.
That said, "crypto winters" as in 2014-2015 and 2018-2019 may not be registered again.
"Never use crypto-based leverage"
However, Mr. Jiang Zhuo'er warns that Bitcoin (BTC) is not protected from 70-80% corrections. But they will be short-term: traders will buy the dip and catalyze the price rapidly.
As such, traders should not rely on crypto-based leverage in their straregies, Mr. Jiang Zhuo'er admits.
The "Buy low, sell high" strategy will also become transformed:
Since there's no deep bear market, the market might act like a V form, which means there’s short time for investors to buy at the bottom. Or it turns into a mini bear market, in which investors will face a Fomo situation or get less coins in the end.