Huobi co-founder and CEO Du Jun does not expect a new bull run in bitcoin (BTC) until the end of 2024.
Jun weekend CNBC in an interview with 2024 end of the year or 2025 until the beginning of the year bitcoin bull He said he didn’t expect it. He believes that the Bitcoin price is linked to the halving process that takes place every four years. CEO, present that the bitcoin price chart pattern is similar to past halving cycles told.
Halving halves the reward for each new block mined on the network and increases the complexity of Bitcoin mining. Up to the present 2012, 2016 and 2020 over the years Three times after each halving process, bitcoin, a new all-time high (ATH) if after doing ATH while reaching significant price drops lived.
2020 after the halving in $69,000 rising to levels bitcoinwho thinks he has reached the top Huobi CEOThat’s why water A bull market before the halving in 2024 does not wait.
Stating that Bitcoin usually goes through a multi-year bear cycle after a big bull run. Du Jun;
We are currently in the early stages of a bear market, considering the cycle will continue. After this cycle, it won’t be until the end of 2024 to the beginning of 2025 that we meet the next bull market in Bitcoin.
made statements.
Stating that there are many factors such as institutional investors entering the market and the increase in exchange-traded investment products (ETF), Jun said that it is not so easy to predict prices anymore.
It is really difficult to make an exact price prediction because there are many factors that can affect the market. For example, the recent war or the ongoing pandemic process affect the markets.
Many analysts share similar views with Du Jun. Possible Fed rate hikes and Russia-Ukraine other factors such as the crisis crypto- and stock to the markets that negatively affect thinking analysts, bitcoin of the price that $30,000 could drop even lower believes.
Recently EThenver in the event bear markets Ethereum co-founder talking about Vitalic Buterinea possible “crypto winter” of many developers would welcome had said.
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