BitcoinIf past price cycles can be interpreted, it is possible that we won’t see a bullish market before the end of 2024 or early 2025.

CNBC’s Du Jun stated that the bitcoin bull market is closely linked to a process known as halving. This happens 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. As a result, miners get rewarded with bitcoin.

Bitcoin’s code includes halving. This reduces by half the amount of reward for so-called miners validating transactions through the network. This happens approximately every four years.

Last halving took place in May 2020And in 2021 bitcoin topped an all-time high above $68,000. The 2016 halving event was a similar one. Bitcoin was born in 2016. at the time a record high.

After both these peaks, bitcoin plunged. Bitcoin is currently at 40% of its November record high, but it still has some way to go before reaching the January lows. In 2024, the next event of halving is planned.

Du said that “if the circle continues, then we are now in the early stages of a Bear Market,” according to CNBC’s Mandarin translation.

“It is really hard to predict exactly because there are so many other factors which can affect the market as well — such as geopolitical issues including war, or recent Covid, also affect the market,” he said.

We won’t see the next bitcoin bull market until 2024 or 2025, according to this cycle.

Recent price drops in crypto currencies have had a significant impact on the market. got some market participantsThere are fears that there could be a “crypto winter”, or an extended period in bearishness. Bitcoin could be volatile during such periods. may trade in a sideways pattern.