Expert said that bitcoin will fall until 2025

(ORDO NEWS) — There are a huge number of different factors that can affect the market. The problems of a geopolitical nature, the war, as well as the coronavirus pandemic were no exception. The founder of the Huobi crypto exchange is completely sure of this.

Du Jun, the owner of the largest cryptocurrency exchange Huobi, is confident that until 2025, one can not expect that the value of Bitcoin will begin to increase soon.

The expert said that the so-called “bullish” phases of bitcoin are directly related to the process called “halving”. The cryptocurrency market faces it every four years. Halving is a phenomenon in which there is a 50% reduction in mining fees and confirmation of transactions.

Du noted that after the halving occurred in late spring 2020, the price of bitcoin rose to a maximum and exceeded the $68,000 mark.

Exactly the same situation was observed in 2016. Literally a year after the halving, the price of the cryptocurrency increased several times again. At the same time, the specialist stressed that after each such peak, there was a serious drop.

To date, the value of the cryptocurrency has already fallen by 40% when compared with the record levels that were again achieved in November last year. At the same time, the BTC has still reached the minimum set in January 2021. The expert believes that in 2024 another drop will begin, provoked by halving.

If the established cycle continues, then we can say that today there is an early stage of the “bear” market. It is impossible to say exactly what will happen next, because there are too many factors that can change everything in one moment.

For example, a war will break out, unexpected geopolitical problems will arise, or the coronavirus pandemic will worsen even more.

Du emphasized that due to the fact that the price of cryptocurrency has fallen significantly recently, many market participants have begun to worry that the “crypto winter”, or too long a period of “bearish” activity, can lead to very unexpected and even some degree of catastrophic consequences.

Online:

Contact us: [email protected]

Our Standards, Terms of Use: Standard Terms And Conditions.