In an interview with the technical entrepreneur Feng Weng for local news publications Sina Venshang Cai said that he took advantage of the market Q1 bears to accumulate a huge amount of coins.
“When I determined that blockchain and bitcoin were in the future, I set myself the goal of having 10,000 BTC…”, he said in the publication.
During the peak in December (2017), I personally thought that the price was a little higher, and I did not buy it. Later, with the decline in prices by the end of January, I continued to build positions, continued to buy. Now this small goal is basically achieved.
Tom Lee: the best time to buy Cryptocurrency is now
Cai is an example of “big money” to choose their moment to enter the Bitcoin market that is gaining momentum in the West as the year goes on.
Prices for bitcoin in April led to a broad rise, this is a step that has given appreciable optimism to traders, investors and industrialists.
Even before the surge in March as prices fell about $7000, Co-founder of Fundstrat Tom Lee, said the main consumers of that time could not be better to buy the cryptocurrency.
Tweeted this week Charlie Shrem even went so far as to guess that in May 2018 would be “the last time,” when BTC / USD ever trading below $10,000.
In the meantime, Kay’s key is the careful separation of “investors” from “speculators” in bitcoin.
“I think the biggest difference between investment and speculation is that when you buy a stock or digital currency, and the price continues to fall, your mentality is more or less positive, and you can make short positions,” – he continued.
“This is investment and vice versa. Blow off and complain about the capitulation of prices – this is speculation.”