{"id":1325706,"date":"2022-02-22T07:54:01","date_gmt":"2022-02-22T12:54:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1325706"},"modified":"2022-02-22T08:08:54","modified_gmt":"2022-02-22T13:08:54","slug":"founder-of-crypto-exchange-huobi-thinks-the-next-bitcoin-bull-run-wont-be-until-the-end-of-2024","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/founder-of-crypto-exchange-huobi-thinks-the-next-bitcoin-bull-run-wont-be-until-the-end-of-2024\/","title":{"rendered":"Founder of Crypto Exchange \u201cHuobi\u201d Thinks the Next Bitcoin Bull Run Won\u2019t Be Until the End of 2024"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffounder-of-crypto-exchange-huobi-thinks-the-next-bitcoin-bull-run-wont-be-until-the-end-of-2024%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1325706&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Bitcoin may not see a bull market until late 2024 or the beginning of 2025 if past price cycles are any indication, according to Du Jun, co-founder of cryptocurrency exchange Huobi.<\/li>\n<li>He told CNBC that bitcoin bull markets are closely tied to a process called halving, which occurs every few years.<\/li>\n<li>The next halving event takes place in 2024, when Du thinks there could be another bull market on bitcoin.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"group\">\n<p><a href=\"https:\/\/www.cnbc.com\/quotes\/BTC.CM=\">Bitcoin<\/a> may not see a bull market until late 2024 or the beginning of 2025, if past price cycles are any indication, according to the co-founder of Huobi, one of the world&#8217;s largest cryptocurrency exchanges.<\/p>\n<p>Du Jun told CNBC that bitcoin bull markets are closely tied to a process called halving, which occurs every few years.<\/p>\n<p>This relates to so-called miners on the bitcoin network,\u00a0which\u00a0run powerful specialized computers to solve complex mathematical puzzles to validate transactions on the bitcoin network.\u00a0Miners are rewarded in bitcoin as a result.<\/p>\n<p>Halving is written into bitcoin&#8217;s underlying code and cuts in half the reward that so-called miners get for validating transactions on the cryptocurrency&#8217;s network. It occurs roughly every four years.<\/p>\n<p>The last <a href=\"https:\/\/www.cnbc.com\/2020\/05\/11\/bitcoin-halving-heres-what-you-need-to-know.html\">halving took place in May 2020<\/a>, and in 2021, <a href=\"https:\/\/www.cnbc.com\/2021\/11\/08\/bitcoin-and-ether-hit-new-all-time-highs.html\">bitcoin topped an all-time high above $68,000<\/a>. A similar occurrence happened when halving took place in 2016. The following year, bitcoin hit what was <a href=\"https:\/\/www.cnbc.com\/2017\/12\/06\/bitcoin-tops-13000-surging-1000-in-less-than-24-hours.html\">at the time a record high<\/a>.<\/p>\n<\/div>\n<div class=\"group\">\n<p>Following both those peaks, bitcoin tumbled. Currently, bitcoin is sat nearly 40% off its record high from November, though it&#8217;s still off some of the lows seen in January. The next halving event is scheduled to take place in 2024.<\/p>\n<p>&#8220;If this circle continues, we are now at the early stage of a bear market,&#8221; Du said, according to a CNBC translation of his comments in Mandarin.<\/p>\n<\/div>\n<div class=\"group\">\n<p>&#8220;It is really hard to predict exactly because there are so many other factors which can affect the market as well \u2014 such as geopolitical issues including war, or recent Covid, also affect the market,&#8221; he said.<\/p>\n<p>&#8220;Following this cycle, it won&#8217;t be until end of 2024 to beginning of 2025 that we can welcome next bull market on bitcoin.&#8221;<\/p>\n<p>The recent price drop in cryptocurrency has <a href=\"https:\/\/www.cnbc.com\/2022\/01\/25\/crypto-winter-investors-fear-bitcoin-has-further-to-drop.html\">got some market participants<\/a> worried that a so-called &#8220;crypto winter,&#8221; or an extended period of bearishness, could be imminent. During such times, bitcoin <a href=\"https:\/\/www.cnbc.com\/2022\/02\/14\/heres-the-outlook-for-bitcoin-as-geopolitical-tensions-heat-up-and-interest-rates-rise.html\">may trade in a sideways pattern<\/a>.<\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-6\" data-test=\"watchLiveRightRail-3\" data-analytics=\"RegularArticle-watchLiveRightRail-6-3\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"denied:data:image\/svg+xml;base64,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\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin may not see a bull market until late 2024 or the beginning of 2025 if past price cycles are any indication, &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1325706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1325706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1325706"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1325706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1325706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1325706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1325706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}