Yahoo News Huobi Co-Founder Says the Next Bitcoin Bull Run is in 2025
In what represents one of the most gloomy short-term predictions of Bitcoin, a significant player in the crypto-financial world has claimed that the leading digital asset price performance might not recover until 2025.
The prediction made by Huobi co-founder, Du Jun, paints an unimpressive financial return for crypto investors over the next few years.
Expect Bitcoin Bull Run in 2025
According to Du Jun, Bitcoin is not likely to record any major bull run until 2025. His prediction is based on the belief of some crypto analysts that the current bull run of the coin is over.
He added that the previous bull run of the asset had always happened in the year when the Bitcoin mining reward was cut in half
Interestingly, Bitcoin’s bull run history has always coincided with the above. The 2020 bull run, which culminated in the asset’s value rising to as high as $69k, was months before the mining reward of the asset was cut from 12.5 BTC to 6.25 BTC.
However, the asset has since shed over 40% of this high. To put this in perspective, Bitcoin’s previous bull run in 2018 led the coin to rise to as high as $20,000 before dropping by over 80%.
Judging by this, Bitcoin’s next bull run should be expected in 2024, when the mining reward would be cut by half.
Bitcoin, Ukraine, and Canada
Bitcoin’s price plummeted to new lows during today’s trading as the asset’s price dropped to as low as $37,200 —a level it last touched on February 4.
This current price action reflects the current political tensions between Ukraine, Russia, and Canada. The ongoing face-off between Ukraine and Russia has lessened investors’ appetite for risk-sensitive digital assets like Bitcoin.
Reports have also emerged that authorities in Canada were considering making their financial surveillance regulations permanent. However, despite the threat of this, Canadians have instead embraced Bitcoin as a means of bypassing whatever restrictions the government might be imposing.
This article was originally posted on FX Empire
