The Co-founder of the Huobi crypto exchange explained the current situation and claimed that we have to wait two years to see the next bull run.
Altcoins and Bitcoin market saw huge pump in the prices because of some better situations in the world in favor of the crypto industry. But now new factors are trying to force the market to go to hell. However, the situation is not too bad but a hike in the interest rate for the next two years by the Fed and new rules & regulation are showing a significant correction chances for the future crypto industry.
Jun Do, the co-founder of Huobi crypto exchange, recently appeared in an interview with CNBC. In the interview, he shared his thoughts and point of view for the possibilities of the future incoming bull run for the crypto industry.
Jun said that current situations are very hard to understand because right now there are multiple factors in existence, which can spoil the bull run easily. In particular, he noted war and Covid-19 situations in the world.
“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.”
However, Jun believes that the Bitcoin bull may start from the end of 2024 to the beginning of 2025 according to current bull run cycle.
“from the end of 2024 to the beginning of 2025 that we can welcome the next bitcoin bull.”
Huobi is a global crypto exchange. The Origin country of Huobi is China but due to the blanket ban on the crypto industry in China, Huobi shifted all its operations outside the native country.
Recently, executive of this exchange revealed that they are planning to enter the US crypto market with the services of asset management. Around two years ago, the exchange was giving its services in the US but due to rules and regulations, the exchange stopped its services, to comply with the orders of regulators.
Read also: Due to inflation, Young Nigerians are moving toward crypto