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.

@usfcx community center_us foundry cryptocurrency exchange.                                      #usfoundrycryptocurrencyexchange #usfcxcscenter #usfcxcommunitycenter #omgblockchainfactory #omgworldusa #omgsecurities