Bitcoin fell to around $36,000 on news that Russian President Vladimir Putin ordered Russian troops to enter Ukraine.
Bitcoin recorded $36,981.16 on CoinMarketCap, as of 10:30 a.m. on the 22nd (GMT+8).
It is the first time since January 27 that Bitcoin has fallen to the $36,000 range.
According to CNBC on the 20th (local time), Huobi co-founder Du Jun predicted in an interview that day that the Bitcoin bull market is closely related to halving occurring at regular intervals.
Bitcoin halving refers to a time when compensation for mining is halved. Bitcoin is designed to reduce compensation when a certain amount is mined because its issuance is limited. Since Bitcoin first appeared in 2009, half-life has occurred every four years.
Bitcoin prices have soared in the year following the halving. The latest halving was in May 2020, when bitcoin prices exceeded $68,000 the following year, hitting an all-time high. Bitcoin prices soared to the highest price at the time in 2017, after the half-life in 2016.
The next half-life is expected to be 2024. Du Jun predicted, “If we follow this cycle, we will not be able to see a new bitcoin bullish market until the end of 2024 or early 2025. ”
Bitcoin has been plummeting again recently. Bitcoin has been on the decline since it hit an all-time high in November last year and has fallen nearly 40%.
If the current situation continues, we are at the beginning of the downward trend, Du Jun said. “There are so many factors that can affect the market, including geopolitical problems such as war and the recent COVID-19 incident, so it is very difficult to accurately predict (price.
