Justin Sun believes the crypto market has hit bottom and the winter market is over. The CEO of Tron noted this while answering questions on the crypto industry alongside the CEO of Binance, Changpeng Zhao in an interview with Huoxing24, a Chinese news portal.
The End Of Bad Times
When the opinion of Justin Sun was sought on the chances of the crypto market coming around in 2019, the founder of Tron network, Justin Sun stated that the bear market had hit bottom.
Sun noted that he thinks the bear market is over for now till the next three to five years. It is now absolutely low at the moment he says. He also mentioned that he thinks the price of Bitcoin will fluctuate between $3,000 and $5,000 this year.
Further, he said the opportunity of a breakthrough in the crypto market this year will rest on the explosion of the DApp ecosystem, the large scale application of the lightning network, and the three major opportunities for the BitTorrent’s 100 million users to enter the crypto market.
When the opinion of Changpeng Zhao was sought on the future of the crypto market, he avoided mentioning a particular price but was however positive. CZ as often being referred to noted that he could not make any price forecast, because if he makes one, he could be wrong, but he is always optimistic.
CZ is his own words said that; “Our goals are generally set even further, five years, ten years, 100 years. In the long run, the development of blockchain technology will certainly be faster and faster. Digital currency will not disappear but will spread to everyone. Therefore, I am always optimistic.”
JPM Coin, A Landmark For Institutional Adoption
During the interview, the opinion of Sun and Cz was sought on the launch of JPM coin, which is widely known as the first financial institutional cryptocurrency.
CZ said the launch of the JPM coin had made a positive impact on the entire blockchain industry and he hopes it will drive Wall Street to popularize the whole blockchain.
Also, Sun said that the JPM coin is a landmark event for mainstream financial institutions to enter the blockchain space. He also believes that the top financial institutions such as Goldman Sachs, Citigroup, and Morgan Stanley will make their way into the blockchain industry.
Meanwhile, top Japanese financial institution, Mizuho also plans to launch its cryptocurrency in March.