In a recent interview, the pseudonymous, highly profitable crypto investor who goes by the alias of ‘200M_trader’ revealed that despite the bear trend, he is still bullish on the BTC market.
200M_trader, who has made quite a fortune by investing in cryptocurrencies, says that cryptocurrencies will witness a sizeable upswing. The trader added that he uses the slump in the cryptocurrency market as an opportunity to accumulate currency.
The trader believes that soon the cryptocurrency industry will soon witness the influx of legacy industries as well major Wall Street players through various pathways such as Bitcoin-backed ETD, Bakkt, and even Fidelity’s Bitcoin custody solutions. 200M_trader elaborated,
“The market has cycles, and it’s important to remember this during both the rapid growth and the strong downfall. It’s also just a matter of time when the big players will enter this market well and truly. We have this time for now and we need to act.”
According to 200M_trader, the crypto sector has reached a ‘point of no return.’ As explained by the trader, it means that at this point it is hard for the revolutionary sector to not make a lasting impact on the world’s economy.
The trader is of the view that while it will be hard to fully replace traditional instruments, but cryptocurrency will pave the way for more equality by bringing billions under the umbrella of finance.
During the interview, 200M_trader also explained how the impending Bitcoin halvening, that is slated to take place in 2020. will lead to growth in the market.
According to the trader, as we get closer to the halvening, we get closer to the end of the ongoing ‘crypto nuclear winter.’ He stated:
“I would advise you to count down the remaining days before halving, rather than count the number of days the bear market lasts, this figure will encourage optimism every day.”
Interestingly another popular crypto commentator who goes by the pseudonym of ‘Moon Overlord’ took to Twitter this past Saturday to explain how Block reward halving in the past have led to bull runs.
According to Moon Overlord, the current slump is the perfect opportunity for investors to accumulate Bitcoin at low prices before the next bull run driven by the anticipation of the halving begins.