Will the rate of the main crypto coin be decreasing?

Du Jun, co-founder of Huobi crypto exchange, believes that bitcoin is now going through the early stages of a bear market. According to him, the price of BTC will continue to decline until the end of 2024 or early 2025.

The expert pointed out that the “bullish” movements of the rate of the first cryptocoin are associated with halving. We are talking about a halving of the block reward, which happens every 4 years.

The last halving took place in 2020. Therefore, the next one can take place in 2024.

“It is difficult to accurately predict the dynamics of the crypto market because there are many other factors that can also affect quotes, such as geopolitical issues, including war, or coronavirus,” Jun said.

According to Coinmarketcap, Bitcoin is worth about $38,000. Over the past 7 days, the cryptocurrency has fallen in price by almost 10%.

But one of the creators of Ethereum, Vitalik Buterin, expressed the opinion that the new “crypto winter” could make the sphere of digital assets more powerful. However, the crypto enthusiast is not sure that this stage has already begun.

Buterin noted that people “deeply immersed in the cryptocurrency industry” welcome periods of a “bear market.” This helps to eliminate unpromising projects and reduce the level of excitement.

“They welcome crypto winters. When prices are constantly rising, this, of course, makes people happy, but at the same time attracts a huge number of short-term speculative traders,” the Ethereum co-founder emphasized.

The last “crypto winter” ended at the beginning of 2019, and the digital asset market began to grow in the fall of 2020. In November last year, the market reached a record capitalization and began to decline. It is not yet clear whether this is really a protracted “crypto winter” or a temporary drop for a set of positions.

According to Buterin, he was impressed by the growth of the cryptocurrency industry. Large investments have come into this area, new projects have appeared, although some of them can hardly be called useful for the market.

“It is in the winter that many such projects disappear, and you see only reliable, important projects, with well-thought-out business models and a close-knit team,” the developer said.

And what do you think about it?