Bitcoin bull market won’t start again until late 2024, says exchange CEO » Crypto Insiders

Currently, opinions are divided widely Bitcoin (BTC) now in BearMarket or still in bullThe market, however, is probably in a mid-cycle correction.

According to Arjun Karpal, co-founder of The Great Asian Cryptocurrency exchange Huobi, Bitcoin is already in a bear market and the next bull market may not start for another two and a half years.

Like most other market participants, he bases these bull cycles on the so-called half from bitcoin. This halving happens about every four years, and that’s when the reward is Miners Half for transaction processing.

Last May, the last halving occurred when the reward was halved from 12.5 BTC to 6.25 BTC. The next halving is expected sometime by the end of March 2024.

The Next Bitcoin Bull Market Not Until Late 2024 or Early 2025

Halving is expected to increase prices because supply is shrinking faster and faster. The effect of this is not immediately noticeable, only after six months the price usually begins to rise significantly. Karbal also sees this pattern, as he reported in an interview with CNBC.

“In 2012, only half of bitcoin was trading, in 2013 there was a bull market, and its value went from $20 to nearly $2000 in 2013. After that, it was a bear market. Then the halving in 2016 led to The second bull market in 2017, when bitcoin reached nearly $20,000. In 2020, the third halving led to the third bull market in 2021, pushing the price of bitcoin from about $3,000 to $70,000.”

We are now at the beginning of a bear market, said Kharpal, adding that we are now at the beginning of a bear market. He then expects the next bull market to start in late 2024 or possibly as early as 2025:

“It is difficult to predict accurately because there are many factors also affecting the market, such as geopolitical issues, including war and most recently Covid-19. After this cycle, it will not be until late 2024 or early 2025 before we can welcome a bull market Next is Bitcoin.