#Bitcoin Price Bottom? A Chinese Billionaire Thinks It's Time To Buy Bitcoin
Bitcoin has been steadily sliding for more than a year, losing some 80% in value over the last 14 months, and traders are keenly looking out for any clues the market has hit its bottom.
The bitcoin price bear market, labeled "crypto winter" for its debilitating effect on the nascent industry, has seen some $400 billion wiped from the value of the world's cryptocurrencies as investors get cold feet, worrying that long-awaited institutional investment and mainstream adoption will fail to materialize. Now, Zhao Dong, a Chinese billionaire who's one of the world's largest over-the-counter traders of bitcoin, has said now is the time to stock up on bitcoin because the "only thing you need is patience."
The price of Bitcoin (BTC) is down 0.10% over the past 24 hours and is currently trading at $3,627.22 on Coinbase. BTC dominance is at 52.6% and the total cryptocurrency market cap is up 0.33% and is currently at $120.8 Billion.