CrypLogger.com
  • Home
  • Exclusive
  • Learn About Coins
  • Artificial Intelligence
  • Special Projects
  • News
  • Opinions
  • Current Prices
No Result
View All Result
  • Home
  • Exclusive
  • Learn About Coins
  • Artificial Intelligence
  • Special Projects
  • News
  • Opinions
  • Current Prices
No Result
View All Result
CrypLogger
No Result
View All Result
Home Opinions

Huobi co-founder predicts bear market for bitcoin by the end of 2024

by Vaibhav
February 21, 2022
in Opinions
0
The economist allowed Bitcoin to fall below $40,000 amid high inflation
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Previous price cycles indicate that a new bull market for Bitcoin may not occur until late 2024 or early 2025. Such an opinion in an interview CNBC said Du Jun, co-founder of the Huobi exchange.

According to him, the price cycles of bitcoin are closely related to halvings – periodic halvings of the block reward embedded in the algorithm, which occur approximately every four years.

The last halving took place in May 2020, and the following year, the quotes of the first cryptocurrency reached an all-time high above $68,000. A similar price movement was observed after 2016. Bitcoin reached record levels in December 2017, Du recalled.

In both cases, deep falls in the digital gold price followed. At the time of writing, the flagship is trading at levels below $40,000 – the price has fallen by approximately 42% from the maximum.

“If this cycle continues, we are now in the early stages of a bear market,” Du said.

Based on the trend, he expects Bitcoin to bullish only after the next halving in 2024.

“In reality, this is difficult to predict accurately, as there are many other factors that can affect the market, such as geopolitical issues, including war, or the recent COVID,” he added.

Recall that in January, Glassnode analysts, based on bitcoin on-chain metrics, stated the onset of a bearish trend in the price of the first cryptocurrency.

See also  Bloomberg strategist predicted BTC growth in the next six months

Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.

Found a mistake in the text? Select it and press CTRL+ENTER

Related articles

Robert Kiyosaki Predicted Bitcoin Growth to $500,000

Robert Kiyosaki recommended buying bitcoin before the “crash landing”

March 15, 2023
The crypto community is worried about the collapse of banks

regulators let banks know that cryptocurrencies are toxic

March 14, 2023

Previous price cycles indicate that a new bull market for Bitcoin may not occur until late 2024 or early 2025. Such an opinion in an interview CNBC said Du Jun, co-founder of the Huobi exchange.

See also  Economist Allianz named a potential trigger for the growth of bitcoin

According to him, the price cycles of bitcoin are closely related to halvings – periodic halvings of the block reward embedded in the algorithm, which occur approximately every four years.

The last halving took place in May 2020, and the following year, the quotes of the first cryptocurrency reached an all-time high above $68,000. A similar price movement was observed after 2016. Bitcoin reached record levels in December 2017, Du recalled.

In both cases, deep falls in the digital gold price followed. At the time of writing, the flagship is trading at levels below $40,000 – the price has fallen by approximately 42% from the maximum.

“If this cycle continues, we are now in the early stages of a bear market,” Du said.

Based on the trend, he expects Bitcoin to bullish only after the next halving in 2024.

“In reality, this is difficult to predict accurately, as there are many other factors that can affect the market, such as geopolitical issues, including war, or the recent COVID,” he added.

Recall that in January, Glassnode analysts, based on bitcoin on-chain metrics, stated the onset of a bearish trend in the price of the first cryptocurrency.

See also  Grayscale announces end dates for crypto winter

Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.

Found a mistake in the text? Select it and press CTRL+ENTER

Share76Tweet47

Related Posts

Robert Kiyosaki Predicted Bitcoin Growth to $500,000

Robert Kiyosaki recommended buying bitcoin before the “crash landing”

by Vaibhav
March 15, 2023
0

Rich Dad Poor Dad bestselling author and entrepreneur Robert Kiyosaki has once again called for investing in gold, silver and...

The crypto community is worried about the collapse of banks

regulators let banks know that cryptocurrencies are toxic

by Vaibhav
March 14, 2023
0

Signature Bank resolved the outflow of deposits by the time the New York state regulator decided to close the financial...

The crypto community is worried about the collapse of banks

The crypto community is worried about the collapse of banks

by Vaibhav
March 13, 2023
0

The problems of three banks - Silvergate Bank, Signature Bank and Silicon Valley Bank (SVB) - have raised concerns among...

Bill Gates doubts the breakthrough potential of the metaverses

Bill Gates called AI the “most important” innovation of our time

by Vaibhav
March 12, 2023
0

Improvements in artificial intelligence are the "most important" innovation at the moment. This was stated by billionaire and founder of...

Steve Wozniak warned about “terrible mistakes” ChatGPT

Steve Wozniak warned about “terrible mistakes” ChatGPT

by Vaibhav
March 11, 2023
0

Apple co-founder Steve Wozniak advised caution about ChatGPT, developed by OpenAI. He stated this on the air of the TV...

Load More

Recent News

  • Judge Gives U.S. Attorneys Until October 3 To Solve Case Against Alex Mashinsky
  • Alphapo payment system hack valued at over $60M – ZachXBT
  • Avalanche Foundation allocates $50 million investment to purchase asset tokens on the network
  • Era Lend on zkSync used for $3.4 million replay attack
  • Abu Dhabi Regulator Grants Trading Firm Rain Permission to Offer Cryptocurrency Services
  • Flashbots Becomes a Unicorn in a $60M Round
  • FOMC Preview: What Bitcoin and Crypto Traders Should Prepare for
  • Game Developer Solana Automata Announces Massive Layoffs
  • Is Cardano TVL a Critical Factor for Reviving ADA Prices?
  • Elon Musk: X will cover half of the global financial system
  • Cryptocurrency-friendly Robinhood moves closer to UK with local CEO appointed
  • Ducati to launch NFT in partnership with XRP Ledger
  • Media: auditors did not find anything suspicious in the scandalous deal with FTX Europe
  • Elon Musk says X will offer ‘the entire financial world’ in the coming months
  • Journalists learned about the reduction of 30% of the staff of the KuCoin exchange
  • EraLend DeFi protocol hacked for $3.4 million
  • Era Land protocol lost $3.4 million in hack
  • The creator of Axie Infinity will develop a new game in collaboration with CyberKongz
  • Azimut Group refuses to pay BlackCat bitcoin ransomware
  • Media: Worldcoin fell under the sight of the UK regulator
  • Home
  • About Us
  • CCPA
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms of Use
Email: contact@cryplogger.com

© 2021-23 Cryplogger.com
CrypLogger is a cult magazine about bitcoin, blockchain technology and the digital economy. Every day we supply news and analytics on the cryptocurrency market since 2021.

No Result
View All Result
  • Home
  • Artificial Intelligence
  • Special Projects
  • News
  • Opinions

© 2021-23 Cryplogger.com
CrypLogger is a cult magazine about bitcoin, blockchain technology and the digital economy. Every day we supply news and analytics on the cryptocurrency market since 2021.

Go to mobile version