Next bitcoin bull run won’t happen until end 2024, says top crypto exchange co-founder
Bitcoin 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’s largest cryptocurrency exchanges. Du Jun told CNBC that bitcoin bull markets are closely tied to a process called halving, which occurs every few years. This relates to so-called miners on the bitcoin network, which run powerful specialized computers to solve complex mathematical puzzles to validate transactions on the bitcoin network. Miners are rewarded in bitcoin as a result. Halving is written into bitcoin’s underlying code and cuts in half the reward that so-called miners get for validating transactions on the cryptocurrency’s network. It occurs roughly every four years.
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