{"id":58157,"date":"2022-02-21T12:36:30","date_gmt":"2022-02-21T10:36:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58157"},"modified":"2025-09-04T15:22:46","modified_gmt":"2025-09-04T12:22:46","slug":"huobi-cofounder-predicts-bitcoin-bear-market-until-end-2024","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/huobi-cofounder-predicts-bitcoin-bear-market-until-end-2024\/","title":{"rendered":"Huobi cofounder predicts Bitcoin bear market until end-2024"},"content":{"rendered":"<p>Historical price cycles indicate that a new Bitcoin bull market may not arrive before the end of 2024 or the start of 2025. This view was expressed in an interview with CNBC <a href=\\\"https:\/\/www.cnbc.com\/2022\/02\/21\/bitcoin-btc-bull-market-may-not-return-until-2024-huobi-co-founder.html\\\">CNBC<\/a> by Huobi co-founder Du Jun.<\/p>\n<p>According to him, Bitcoin\u2019s price cycles are closely linked to halvings \u2014 the programmed, periodic halvings of block rewards by half, which occur roughly every four years.<\/p>\n<p>The last halving took place in May 2020, and the following year the price of the leading cryptocurrency reached an all-time high <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-hits-all-time-high-at-69000\">above $68,000<\/a>. A similar price move was observed after 2016. Bitcoin hit record highs in December 2017, Du noted.<\/p>\n<p>In both cases, the price of digital gold subsequently fell sharply. At the time of writing, the flagship was trading at <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-falls-below-40000-as-market-capitalisation-slips-below-2-trillion\">below $40,000<\/a> \u2014 the price had fallen roughly 42% from its peak.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cIf this cycle continues, we are at the early stages of a bear market,\u201d said Du.<\/p>\n<\/blockquote>\n<p>Based on the trend, he expects Bitcoin\u2019s bullish trend only after the next halving in 2024.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cIn reality, it is hard to predict exactly, as there are many other factors that could affect the market, such as geopolitical issues, including war, or the recent COVID,\u201d he added.<\/p>\n<\/blockquote>\n<p>In January, Glassnode analysts, based on on-chain metrics for Bitcoin, noted the onset of a bear market for the price of the leading cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Past price cycles suggest that a new Bitcoin bull market may not arrive until the end of 2024 or the start of 2025. This view was expressed in an interview with CNBC by Huobi co-founder Du Jun.<\/p>\n","protected":false},"author":1,"featured_media":58158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1146,1138],"class_list":["post-58157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cryptocurrency-market-forecasts","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=58157"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58157\/revisions"}],"predecessor-version":[{"id":58159,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58157\/revisions\/58159"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/58158"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=58157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=58157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=58157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}