According to Justin Sun, founder of Tron (TRX), the crypto market is still alive and a new rise is imminent.
The creator of Tron, a low-cost network for sharing peer-to-peer digital content, understands the value of celebrity attention in the crypto world. Sun spoke at CoinDesk’s annual conference, Consensus 2021, which brings together professionals and influencers from across the crypto sector, global finance, and more.
Large companies are reluctant to include cryptocurrencies on their balance sheets due to environmental, social, and corporate governance (ESG) concerns. Less than 1% of global institutions hold crypto as an asset class, and miners will need to demonstrate that their coins are produced sustainably if this trend is to be reversed.
Justin Sun’s opinion on the crypto market
Sun predicted in an interview that there will be a “price adjustment” in June before rallying for the next two months. He says he believes June is just a price adjustment and that bull markets will emerge in July and August. I believe the bull market will continue and we will continue to see crypto advances.
Sun links Dogecoin (DOGE) to the inventory of video game retailer Gamestop (GME), the rise of which was driven by retailers who defied the experts, and he says Dogecoin is something I believe in. I believe this is consistent with the views of GME a quarter ago.
As a result, this is the people’s cryptocurrency. They don’t care about the analysis of Wall Street investment banks. They just want to make money based on their own decisions. Due to the decentralized nature of the sector, Sun believes that China’s crackdown on cryptocurrencies will fail.
China’s recent crypto news is pretty crucial in my opinion. However, I want to emphasize that no single person or element has complete power over the market. I already believe that China is trying to introduce stricter crypto laws. However, crypto will continue to expand in China, as in most other countries, as crypto in China currently has a high level of interest in terms of local government and the professions of many people. So I don’t think China can crack down on cryptocurrency overnight, he added.
The founder of Tron claims that the recent decline in the crypto market is simply a necessary correction after a surge. The adjustment of the crypto market, in my opinion, is primarily due to the fact that it has been active all year round and I believe that some adjustments should be made in due course.