“So in the dot com boom and bust cycle, it was about four and a half years, maybe five years. In the crypto world, it was about a year and a half. So it was a lot faster.”
There’s no doubt Bitcoin (BTC) can earn investors substantial gains, as already we have seen 2017’s bull market take Bitcoin from below $1,000 all the way to $20,000. Experts in the industry are saying the next bull run could be even bigger.
Zhu Fa, co-founder of Poolin, a Chinese-based crypto mining pool, predicts that Bitcoin could reach 5 million Chinese yuan ($738,000 USD) in the next bull run, according to a report published by 8BTC on February 11.
According to Zhu, Bitcoin is currently at some of the cheapest prices we will ever see again, making it the opportune time to buy in. Zhu shared his thoughts on the current state of the market and gave his Bitcoin price prediction via the popular Chinese messaging platform, WeChat:
“Bitcoin price will be in the range of 500,000 yuan – 5,000,000 yuan ($74K-$740K) in the next round of bull run… Likes and comments on crypto posts in the community keep going low these days, it now feels more like a bear market”
Zhu also noted that the next Bitcoin bull run could be the last, as these massive price spikes will exist only until the cryptocurrency stabilizes. However, he does believe investors will benefit massively, and says the price of Bitcoin will be 10–20 times higher than previous all-time high (ATH) prices of around $20,000.
Zhu is not alone in his ultra-bullish Bitcoin price predictions. In fact, there are various notable experts in the crypto space that have similar prognoses for the next bull run.
Last April during a blockchain event, the prominent venture capital investor, Tim Draper forecasted that the price of Bitcoin could reach $250,000 by 2020.
Another bullish price prediction comes from Mark Jeffrey, author of “Bitcoin Explained Simply,” who also predicted Bitcoin to reach $250,000. On the podcast “The Next Billion Seconds” with Mark Pesce, he compared Bitcoin to the dot-com boom.
“So in the dot com boom and bust cycle, it was about four and a half years, maybe five years. In the crypto world, it was about a year and a half. So it was a lot faster.”
A more recent bullish outlook comes from Barry Silbert, the CEO and founder of Digital Currency Group and Grayscale Investments, who said that most cryptocurrencies will go to zero, but that he is now more bullish on Bitcoin than ever.
The bullish Bitcoin price predictions from notable individuals in the crypto space go on and on. Even more, many prominent individuals are beginning to believe that Bitcoin has already bottomed, or is very close. Therefore, it may be time to turn bullish very soon.
What’s your Bitcoin (BTC) price prediction for the next bull run? Let us know in the comment section below.
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