Jun Du (Huobi founder) says Bitcoin won’t experience strong bull runs until 2025.
His analysis is based on certain crypto specialists’ assumption that the coin’s current run is coming to an end.
Surprisingly, Du has always aligned with Bitcoin’s bull run history.
The asset’s value reached as high as $69,000 during the 2020 bull run, which ended months before the mining reward was reduced from 12.5 BTC to 6.25 BTC.
The Bitcoin Bull Run 2025
Bitcoin’s decline in value has been more than 40% since its peak. To put this in context, Bitcoin’s last bull run in 2018 saw the coin register a high of $20,000 before plummeting by more than 80%.
Du claimed that there was a bull market between 2017 and 2021. According to Du, the next bull market will be around a year following the 2024 halving. According to Du, if the supply is halved, then the price will go up.
What is the importance of halving for Bitcoin?
The halving is an important part of bitcoin. It refers to the half of what so-called miners receive as compensation for verifying transactions.
According to crypto specialists, the past two halvings occurred in 2016 and 2020, with the next one scheduled in 2024.
Given that both cryptocurrencies and tech stocks were lifted by central bank stimulus over the prior two years, the Federal Reserve’s intentions to hike interest rates sharply in 2022 have impacted both asset classes hard.
BTC market capital at $713.715 Billion in daily chart| Source: TradingView.com
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Today’s Bitcoin Price Analysis
Bitcoin is currently trading at $37,643 and is still falling as of Tuesday, having breached the lower channel’s boundaries.
Bitcoin was valued at $733,000,000,837,513. The crypto’s moving averages show a short-term bearish trend.
The market has a current low of $36,488.93. and high of $39148.64. There is an 81.48% trade volume at 33 billion.
Bitcoin’s price tumbled to new lows during Tuesday’s trade, falling as low as $37,200, a level it last reached on February 4.
Analysts expect Bitcoin to fall into a bear market by the end of 2024, or even earlier in 2025.
Winter is Coming
Analysts predict that Bitcoin’s current negative phase allows investors to accumulate it. According to a leading crypto intelligence firm, long-term investors were unaffected, but the short-term ones continued to drive Bitcoin’s price volatility.
Meanwhile, some investors believe that another “bitcoin winter” — when prices plummet and do not recover for a year or more — is nearing.
Bitcoin plummeted from about $20,000 down to under $4,000 over the past winter. This was between the end of 2017 and the middle 2019.
Related Article: The Bull Run Could Be Saved By A Bitcoin Bottom Sign From Bear Market| Bitcoin Bottom Signal From Bear Market, Black Thursday Could Save The Bull Run
Featured image by BlockPublisher. Chart by TradingView.com