As the impresario of a popular mining pool, Zhu Fa is well-positioned to understand the bull and bear markets that Bitcoin experiences. And his latest statement is definitely raising eyebrows. When asked what he thought the BTC price might rise to the next time there is a major bull run, Zhu Fa did not hesitate. Predicting highs of $740,000 or so for each Bitcoin, he reflected the general bullishness that is percolating after cryptocurrency appears to be gradually emerging from what many have been calling the crypto winter. After hitting the sky-high price of $20,000, BTC plummeted, leaving many new investors in the dust. For those who were already accustomed to the volatility of crypto, the shake-up wasn’t as significant. Still, the market has not yet recovered. With prices hovering south of $4,000, those who bought at the top may still be regretting their actions.
But if the prices were to rise to the heights that Zhu Fa has predicted, he believes the market cap would then become a whopping $12 trillion. However, the mining pool co-founder is not saying when he believes this bull run might kick off. For everyone in crypto, this seems to be the big question right now. It’s important to note that Zhu Fa is not the only crypto enthusiast who seems to think that the next bull run might be bombastic. The Winklevoss twins, infamous for their association with Facebook, were early investors in Bitcoin. Getting into the market when the currency was valued at around $120, they obviously have profited quite handsomely. And although the crypto winter has obliterated a sizable portion of their net worth, they remain very bullish on Bitcoin’s future. Comparing it to gold, they actually seem to believe that it could even surpass gold. The Winklevoss twins put their estimation for the total market cap at around $4 trillion, which is still a hefty figure.
Then there’s Tim Draper, another billionaire who is incredibly optimistic about Bitcoin’s future—so optimistic, in fact, that he’s predicting Bitcoin will hit a cool quarter of a million dollars by 2022. For those in the crypto community, it can be frustrating that many of these leaders don’t say exactly why they believe that crypto is going to experience a Bitcoin bull run of epic proportions. But with so many BTC billionaires and experts speaking in concert, perhaps it’s time to listen.
