Dovey Wan: Chinese investors to re-enter in droves once Bitcoin crosses $20,000 again
|- Chinese investors have recently become skeptical about investing in Bitcoin.
- Wan believes that local users in China are still dominating Bitcoin mining.
Primitive Ventures’ Dovey Wan, who also holds a deep understanding of China’s financial market, recently commented on the country's significant local crypto supply. While speaking on the Binance Podcast, Wan said:
“Probably over 70 to 80% hash rate are actually being produced here in mainland China.”
The primary reason behind this is the fact that local users dominate the Bitcoin mining landscape. However, Wan conceded that Chinese investors are very wary about investing in Bitcoin. She feels that there will be increased involvement from China when Bitcoin returns to the $20,000-range
While talking about her recent investments, Wan adviced:
“Definitely ask yourself like what are these things can outperform Bitcoin in about three to five years time frame. If you can answer that question yourself, then pull the trigger.”
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