Jihan Wu, co-founder and general manager of mining equipment manufacturer Bitmain, said he was optimistic that Bitcoin (BTC) could perform well this year despite the coronavirus outbreak.
In a recent interview, Wu stated that efforts by central banks to get rid of the economic impact of the epidemic and to tackle its impact on loose monetary policies could raise the price of all financial assets.
“Bitcoin (BTC) May Not Rise Up Immediately After Halfway”
However, Wu explained the situation by saying that the leading cryptocurrency did not expect a bull run until the halfway event in May 2020:
I think this time the bull run may not come right after the halfway takes place. There will be a delay over time… As Bitcoin’s market value grows, its volatility decreases and becomes more stable. This means that we cannot see sudden increases in price. Regardless of Bitcoin, it will peak one day. Over the next few years, Bitcoin price will see a lot of growth.
“Ethereum (ETH) Is Not Touched Due To Defi”
The general manager of the Bitcoin mining giant also stressed that Bitcoin doubts that it will be a safe haven asset in a volatile global macro environment.
As for Ethereum, Wu is optimistic about the expectations of the second largest cryptocurrency. Although Ethereum believes its developers are advancing slowly, he thinks ETH is “untouchable” because of its pioneering advantages in areas such as decentralized finance (DeFi).
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