Skip to main content

People who run a significant crypto exchange say that the next bitcoin bull run won't start until the end of 2024

In the opinion of Huobi's co-founder, a bull market in Bitcoin may not occur until the end of 2024 or the beginning of 2025, based on previous price cycles.

For Du Jun, the halving procedure is a significant factor in bitcoin's bull market cycles. Some so-called miners use powerful computers to solve complicated mathematical riddles and validate transactions on the bitcoin network. As a result, bitcoin is given to the miners. When bitcoin hit an all-time high of $68,000 in 2021, the last halving happened in May 2020. As recently as 2016, an issue comparable to this one occurred. It was a record-breaking year for bitcoin as it hit a new all-time high in 2015.

After these two highs, the price of bitcoin dropped. Bitcoin is down by roughly 40% from its November high at the time of writing. However, it is still significantly higher than some of January's lows. In 2024, the following half-size reduction will take place.

According to this pattern, we won't be able to welcome the next bull market on bitcoin until late 2024 or early 2025.

As a result of the recent price decline in cryptocurrencies, some market participants fear that a "crypto winter," or an extended period of bearishness, is imminent. During these times, Bitcoin may trade sideways.

 

Comments

Popular posts from this blog

To boost trade, Africa is simplifying international payment systems

It's hard to transfer money between African countries. The Ghanaian king settled a bill with a Nigerian attorney. His experience highlights a systemic problem impeding Africa's economic growth: high transaction costs and inconvenience. 15% of all imports and exports occur between 55 African countries. 60% of Asian trade is within Asia. 70% in EU. The difficulty of international payments hinders African trade. There are also high tariffs, long border procedures, and congested roads. Proponents of AfCFTA say easing trade restrictions will boost trade, FDI, and economic growth. 50 million people will be lifted out of extreme poverty by 2035 due to the accord's positive impact on real income, which is projected to rise 9.1%.  Another issue: In Africa, currency values fluctuate. From July 2021 to 2022, Ghana's currency fell from 6 to 8. Volatile currencies make financial transactions more costly and risky. To overcome these problems, PAPSS facilitates financial transactions ...

How will Blockchain boost trade in Africa?

Despite a regional economic slowdown in 2020, over a dozen African countries grew last year. Complicated trade rules and lengthy border processes stifle African economies. These long-standing issues need creative solutions. Blockchain is becoming more practical and scalable in developing markets. It has just opened a regulatory "sandbox" for innovative blockchain-based goods in Ghana. Standard Bank has joined Marco Polo, a trade financing network. Here are four ways blockchain may help African trade: 1. Customs The AU-EU trade deal is still in its infancy. Traditional customs bureaucracy prevents SMEs from joining global trade networks. This procedure can be automated and simplified, saving time and money. 2. Traceability Tracking cross-border goods correctly is critical for standard and certification verification. Already, blockchain is allowing ethical supply chains for a variety of African goods. Its open-source but secure design makes certificates easy to issue and verify...

This summer, the Fed will take another step toward creating a digital money

  This summer, the Federal Reserve will publish a research paper that examines the possibility of a central bank digital currency. Multiple countries' initiatives in the central bank digital currency arena, most notably China's, have heightened debate about how aggressively the Fed should act. The Federal Reserve is pushing ahead with its plans to create its own digital currency, stating that a study paper will be released this summer that will go deeper into the topic. Despite the fact that the central bank did not announce any particular plans for the currency, Chairman Jerome Powell acknowledged advancements in payments technology and stated that the Fed has been "actively monitoring and responding" to those developments. In the statement, The proper operation of our economy requires that consumers have faith and confidence not only in the dollar, but also in the payment networks, banks, and other payment service providers that allow money to flow on a regular basi...