Chinese OTC-trader and bitcoin-billionaire Zhao Dong expressed an opinion that the next 15 months are the “golden time” for investing in crypto. Zhao Dong, the founder of DFUND, has, in recent years, rising to prominence as one of China’s largest OTC traders. However, early in his trading career, Mr. Dong would incur losses that drove him to contemplate suicide.
During 2014, Zhao Dong states that he lost “nearly 150 million yuan” (almost $23.7 million USD) due to his decision to open “one of the largest [bitcoin] mines in [China]” immediately preceding the onset of 2014’s cryptocurrency bear season.
Today, according to him, it is the protracted bear market that provides an excellent opportunity to include undervalued crypto assets into a long-term investment portfolio.
“Real value investors should prefer a bear market where they can find many bargains as good projects are usually underestimated in such a sluggish. Of course, it’s no use just buying good coins cheaply, you need to hodl it for the long term,” Dong explained.
According to him, keeping undervalued cryptocurrencies in the portfolio should last about three years.
“In the cryptocurrency sphere, the following 15 months is the golden time of value investing. What a value investor should do is to hunt for underrated high-quality project, buy it and hold it for 3 years until bull comes back. At that time, either cash it out, or continue hodling,” the expert from China added.
Recall, a well-known investor and head of the Galaxy Digital Bank Mike Novogratz expressed the opinion that the cryptocurrency market reached the “bottom” and is ready for explosive growth.