Huobi co-founder Du Jun does not expect the largest cryptocurrency market to recover anytime soon
co-founder Du Jun has offered a grim prediction about the cryptocurrency market, claiming that Bitcoin is unlikely to see another major bull run until 2025 in a recent interview with CNBC.
He expects the next major rally to start in 2024, the year the reward for mining Bitcoins is cut in half. Du, however, concedes that it would be challenging to predict future price moves based on some black swan events that could affect market conditions.Earlier today, the price of Bitcoin plunged to $37,200, the lowest level since Feb. 4. The largest cryptocurrency has now recovered to $39,000 after paring recent losses and reclaiming the $38,000 level, which has acted as key support over the past several months.
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