Justin Sun, the founder of TRON (TRX), has revealed that he is sure that the bull run in the crypto market is not over yet and the rally will take new face in the next couple of months, but there can be some sort of decline in June before the potential rally begins.
Sun said in an interview with Bloomberg that was posted first on Daily Hodl that he believes that what is happening currently in the crypto market this month is “price adjustment” before the rally continues in July and August. In his words, the bull run is still latent, and the developments of cryptocurrency will be more visible.
The TRON founder argued that the downturn in the crypto market is a quite needed correction after the huge rally that the market saw in the previous month. This argument agrees seemingly with that of Charles Hoskinson, the creator of Cardano, when he was telling the community that they should not be expecting a 900% increase without any pullbacks on the path.
The opinion of Justin Sun was then sought on the involvement of Tesla in the crypto space. The electric car producer started receiving BTC as a form of payment earlier in February when it added $1.5 billion in the form of BTC to its balance sheet but after a couple of months stopped accepting BTC for payment because of its carbon footprint.
In Sun’s opinion, the concerns of Musk are quite legitimate, but the issue will be addressed over time with a shift to the use of sustainable energy to mine cryptocurrencies. Furthermore, some crypto is using Proof-of-Stake (PoS) consensus algorithm, which doesn’t require heavy computational work like its counterpart, Proof-of-Work (PoW).
Looking at the crackdown of China on crypto, he mentioned that the country would not be successful over the decentralized nature of the scape. He said different economic opportunities created in the crypto space would imply that the digital assets will keep growing in China.
The interviewers, however, asked Justin Sun about the meme-inspired crypto, Dogecoin (DOGE), which saw about 6,000% in the last couple of months as the retail traders are trying to get it to $1/coin. He compared it to GameStop (GME) that was fueled by its retail traders.