Huobi Co-Founder Says Next Bitcoin Bull Run Could Be 3 Years Away

Christian Encila

1 year ago

2 mins read

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According to Huobi co-founder Jun Du, Bitcoin is unlikely to experience a strong bull run 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.

Bitcoin Bull Run: 2025

However, Bitcoin has lost more than 40% from its previous 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 said a bull market happened between 2017 and 2021, and the next one is expected to come roughly a year after the 2024 halving. The theory is that by halving the supply, the price will rise.

Why Is Halving Important To Bitcoin?

A crucial part of bitcoin is halving, which refers to half the amount of money that so-called miners get as compensation for confirming 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 total market cap at $713.715 billion in the daily chart | Source: TradingView.com

Related Article | 2022: The Year The Secular Bitcoin Bull Run Could End

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.

At the time of writing, Bitcoin had a market capitalization of $733,333,837,513. The crypto’s moving averages show a short-term bearish trend.

It has a present low of $36,488.93 and a high of $39,148.64, with an 81.48% trading volume reaching 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.

Market observers expect Bitcoin to enter a bear market, with the subsequent significant rise not coming until late 2024 or early 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 plunged from around $20,000 to below $4,000 during the last winter, between late 2017 and the middle of 2019.

Featured image from BlockPublisher, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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