Crypto Game
  • Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News

    Bitcoin Treasury Capital Set for Sweden Stock Market Debut

    Bitcoin Treasury Capital Gains Listing on Sweden’s Spotlight Market

    Bitcoin Treasury Capital Gains Approval for Swedish Listing

    Bitcoin Treasury Capital Gains Spotlight Listing Approval

    Glassnode Analyst Warns Bitcoin Treasury Strategy May Falter

    Glassnode Analyst Questions Viability of Bitcoin Treasury Strategy

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar

    XRP Analyst Predicts $32 Price Surge After Long Consolidation

    XRP Gains 450% After Regulatory Clarity; ETH Falls

    Smithii Enables Rapid Meme Coin Creation on Solana

    JA Mining Enhances Crypto Accessibility with AI-Powered Platform

    JA Mining Expands Altcoin Services with AI Optimization

    BlockDAG Partners with Seattle Seawolves for Blockchain Solution

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Chinese Bitcoin Billionaire Zhao Dong Thinks Crypto Bear Market Will End Soon

Tony P. by Tony P.
September 13, 2019
in Cryptocurrencies, Latest News

The end of crypto bear market is imminent, according to Zhao Dong—a renowned over-the-counter (OTC) trader who also happens to be one of the most influential bitcoin billionaires in China. The billionaire recently stated that he was convinced that the bear market would soon end.

Dong, who is also a major shareholder at Bitfinex crypto exchange and the founder of RenrenBit, a crypto lending platform, aired these sentiments on Weibo (the Chinese version of Twitter). His posts were meant to give the public his predictions of the crypto market for the next three months.

He said:

“The next three months could be the last opportunity for bottom fishers, and after that, the crypto market will enter Spring and then Summer, estimated to rally together with China’s stock market in 2021. There’s always ups and downs, just like the cycle of the seasons.”

Crypto Market Seasons

The tycoon went on to say that the crypto market has its ups and downs, which can be compared to the various cycles of the seasons. In November last year, the Bitcoin tycoon had advanced a theory that the BTC market comprised of four seasons.

At the time, he claimed for the first time that the market was currently in its autumn season, stating that 2019 would serve as its winter season. Bitcoin would then go on to surprise many of its investors by tripling its prices within a span of three months.

It rose from $4,000 at the beginning of April 2019 to $13,000 by mid-June. This was at a time when the market completely failed to capitalize on its bullish run and instead continued to hover around the $10,000 mark for a period of at least two months.

Expected Price Drop

Zhao stated that there was a possibility that the leading crypto would soon experience a big drop in its prices in the coming three months. He estimated this would happen before the start of 2020.

For many in the crypto industry, Zhao is more than a legend. These are sentiments expressed by many crypto enthusiasts who have come to learn of his experiences in this industry. He entered into the crypto market with an initial investment of 10,000,000 yuan in 2013.

Within no time, his investment had multiplied tenfold, despite the fact that the crypto had experienced a major slump that year. His misjudgment and over-optimism caused him to open accounts that were heavily leveraged.

This time around, he ended up losing more than 9,000 BTC in a single trading day. That was in February 2014. While he once thought of killing himself due to this huge debt, he was able to repay the entire debt in less than three years.

Via: Image Courtesy of Pixabay.com
Tags: bear marketBitcoin BillionairecryptocurrenciesZhao Dong
Previous Post

France All Out to Block Progress of Libra in Europe

Next Post

Mt. Gox Victims to Get Legal Representation for 200,000 BTC in Reimbursements

Tony P.

Tony P.

Related Posts

OKX CEO Addresses User Fund Lock Issues

by Solomon M.
July 5, 2025

OKX faces user complaints over locked funds. CEO Star Xu promises improvements.

OKX Acknowledges User Complaints, Promises Fix for Locked Funds

by Solomon M.
July 5, 2025

OKX CEO Star Xu addresses user complaints about account locks and risk flags, pledging quick resolutions.

OKX Addresses User Complaints and Promises Faster Resolution

by Joshua T.
July 5, 2025

OKX exchange addresses user issues of locked funds, promising solutions amid mounting complaints.

Hong Kong Launches Third Tokenised Bond, Zero ETF Stamp Duty

by Anca F.
July 5, 2025

Hong Kong issues third tokenised bond with zero stamp duty on ETFs, aiming to enhance digital asset market appeal.

Hong Kong Announces Third Tokenized Bond, No Stamp Duty on ETFs

by Solomon M.
July 5, 2025

Hong Kong launches third tokenized bond, removes stamp duty on ETFs, aiming to boost digital finance.

Hong Kong to Issue Third Tokenized Green Bond

by Solomon M.
July 5, 2025

Hong Kong announces third tokenized green bond issuance with ETF stamp duty relief.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.