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

Post a Comment

Popular posts from this blog

Cryptocurrency market value went up

A new record was achieved on Monday for the second-largest cryptocurrency by market value, Ether, with a new high of more than $4,700. A 12,000 percent increase in the value of SOL, Solana's cryptocurrency, has occurred in the last 12 months. In New York City last week, more than 5,000 people gathered to support nonfungible tokens at the NFT.NYC conference. According to CoinDesk, guests exchanged a total of 700,000 NFTs at the event. The cryptocurrency "Squid Game," which was inspired by Netflix's blockbuster TV show "Squid Game," suffered a huge plunge this weekend. Customers were unable to sell the token on Pancakeswap after CoinMarketCap received "a number of reports," the cryptocurrency exchange said in a statement. As of this writing, the token's white paper and website are no longer accessible online. Quentin Tarantino, the director of "Pulp Fiction," will release seven uncensored segments from the film. For his first three payc...
Post a Comment
Read more

Cryptocurrency trading is "not suited for the general public", according to Singapore's central bank.

Cryptocurrency investors in Singapore may have to go through a risk awareness assessment before being allowed to trade. They will also not be able to use credit cards or any form of borrowing to trade cryptocurrencies. These are among the measures proposed by the Monetary Authority of Singapore (MAS) to protect retail consumers. A risk awareness assessment is also being proposed to ensure that retail customers have sufficient knowledge of the risks involved. DPT service providers will not be allowed to offer any monetary or non-monetary incentives to retail customers upon sign-up, or to any person to encourage referrals of its service.  
Post a Comment
Read more

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...
Post a Comment
Read more