Tron’s Justin Sun says Bitcoin has already hit the bottom and the bear market is over

Tron foundation closely worked with Binance to launch BitTorrent Token [BTT] and conduct airdrops. Recently, the founder and CEO of Tron Foundation, Justin Sun and the founder and CEO of Binance, Changpeng Zhao shared some insights about the current market, in an interview with Huoxing24, a Chinese news portal.

Justin Sun discussed the possibility of a retracement from the bearish trend in cryptocurrency prices. When asked about the future of Bitcoin in 2019 and its chances for a market breakthrough, Sun said,

“I think it is already the bottom, and the bear market is over. From now on for three to five years, it is now an absolute low. For this year, I think Bitcoin will fluctuate between $3,000 and $5,000. The opportunities for market breakthroughs this year include the explosion of the DApp ecosystem, the large-scale application of the lightning network, and the three major opportunities for BitTorrent’s 100 million users to enter the cryptocurrency market.”

On the other hand, CZ admitted that he was unable to predict the future price of the coin. He added that the future will have faster development of blockchain technology and believed that the digital currency will not disappear, but will spread. The duo went ahead to discuss the test-launch of the JPM Coin and were positive about its implementation. CZ said,

“JPM Coin has made a positive contribution to the entire blockchain industry, hoping it will drive Wall Street to popularize the entire blockchain application.”

Meanwhile, Sun called it a landmark for financial institutions. The CEO of Tron foundation added,

“JP Morgan Chase is a landmark event for mainstream financial institutions to enter the blockchain. I personally think that the top financial institutions such as Goldman Sachs, Citigroup and Morgan Stanley will start to enter the blockchain industry. Different from the previous financial institutions to invest in the industry, this time is a real launch, which is of great significance for the large-scale application of blockchain.”

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