The founder of TRON and the owner of BitTorrent, Justin Sun, has given his two cents on the matter of Bitcoin’s price in 2019.
Bitcoin Price Between $3,000 and $5,000
Speaking on what’s undoubtedly one of the hottest topics in the cryptocurrency community, the founder of TRON and the owner of BitTorrent, Justin Sun, shared his two cents on Bitcoin’s price.
According to him, Bitcoin will be fluctuating between $3,000 and $5,000 throughout this year. However, he has also said that he believes we’ve already found the bottom and that this is the ‘absolute low’ from now on for three to five years. He also said that he believes the bear market is over.
Sun also sees certain opportunities which might lead to market breakouts during the current year. These are, according to him, the popularization of the ecosystem of decentralized applications, large-scale application of the Lightning Network, as well as certain opportunities for BitTorrent and its 100 million users.
“Tron is No.1”
As if to further back up his position on the matter of decentralized applications, Justin Sun has recently tweeted that Tron is the number 1 project for (DApps).
But does quantity mean quality?
Recently, a researcher at infoSec, Anthony Sassano, said that Ethereum has been one of the most successful blockchains to enable prominent and meaningful DApps, even without the scale.
Sassano argues that one of the projects in particular - MakerDAO, is an especially great example. The project has a dollar-pegged stablecoin which MakerDAO uses in order to issue cryptocurrency-backed loans.
In its first year of business, the company issued the whopping $200 million in loans. To put things into perspective, Lending Club, which is easily one of the most well-known traditional personal loans companies, issued only $50 million more than MakerDAO.
What do you think of Justin Sun’s position on Bitcoin’s price? Share your thoughts down below!