Crazy crypto rich Asian. Bitcoin millionaire from China talks about his strategy And how he deals with Cryptocurrency market dips also how do successful investors think ahead and see opportunities when it’s bearish? Mia’s conversation with Lao Ge, an influential Chinese crypto investor, will reveal what’s on crypto rich Chinese’s mind.
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Lost 10,000 in a single day? Raised 3,000 Bitcoins in one night? 1000 times return? Crypto journey is full of ups and downs.
0:21 Big investors’ up-and-down experiences with Bitcoin
1:44 What’s the blockchain project with Chinese characteristics like?
2:38 When is the next bull run?
4:30 What to do during the bear market?
5:16 Which direction is blockchain heading in China?
6:11 Big investors turned all their money to Bitcoins?
6:44 What types of investments are good to make now?
7:19 Raised 3,000 Bitcoins in one night
8:30 Information arbitrage
[ps2id id=’read-lao’ target=”/]Bitcoin as a currency has reached a point where investors refer to it as a fiat. The cryptocurrency has been fluctuating over the years, and currently, Bitcoin’s depreciating status has pushed many miners and investors off the market. However, some resilient entrepreneurs have taken advantage of the situation and bought more coins while others invest in the mining equipment.
One of China’s largest OTC traders, Lao Ge, shares his experience with crypto trading. Lao has lost substantial amount dealing with digital currency, but he continues to believe that Bitcoin is the future. One of his partners, Zhao Dong, once lost more than 10,000 coins in a single day but he did not quit. The crypto millionaire paid his debts and continued to invest in Binance cryptocurrency exchange as well as other projects. Mr. Ge has vast experience in mining, arbitrage and OTC trading which he learned from his two business partners. The partnership has led to the development of Dfund.
Lao has also partnered with Li Quang as well to maximize their presence in the Bitcoin industry. The three investors found common ground in crypto investments which inspired their partnership. Since then, Lao, Zhao, and Li have a share in more than 100 projects. Although they have traded successfully in the past, the current Bitcoin market conditions are unfavorable.
As a crypto millionaire and strategist, Lao and his partners have minimized investment options and created a new token fund compatible with financial institution standards. Their decision was based on Bitcoin’s promising trend which will increase in the next boom sessions.
The market today has discouraged many investors because they are unsure whether it will remain the same. Lao suggest that Bitcoin may drop by $1000 or more, but it will soar eventually. He bases his argument with the fact that the more Bitcoin fall, the higher chance it has to increase abruptly and at a higher rate. He advises people to purchase small amounts and become loyal crypto investors. Bitcoin has survived scams, regulations, hackers, and losses among other things. Newcomers and existing investors have had to make significant decisions regarding whether to remain in the market or seek alternatives but only believers have maintained their stand.
In China, the cryptocurrency has faced grievous challenges including surviving the bear market. Lao believes that the situation presents an opportunity for crypto companies and investors to create a firm foundation for when Bitcoin booms. People should buy and hold the cryptocurrency especially in China. He and his partners have turned their assets into Bitcoin as a survival and investment strategy. They also use it to purchase items because Bitcoin’s purchasing power has increased.
In 2016, the crypto millionaires invested in ICOs which gave them a higher return than expected. They began with NEO and expanded to include Dfund which attracted substantial profits at the time. However, ICOs became common, and many newcomers emerged making it challenging to make money. The situation forced Lao and his partners to find other opportunities. He still attends the Sora Summit because it has potential investors and people exchange useful information. The crypto millionaire’s advice to investors is that we should keep an open mind.
Crypto investments are more favorable than traditional markets like the stock exchange. There exist vast opportunities to make money, and an entrepreneur does not rely on a single option. If one investment fails, you should seek alternatives. For instance, Bitcoin in China is mining at a loss, but in the United States, the situation is different. If you can move your investment to America, your chances increase, but if you remain in China, you can find new ways to make money.