When will the next cryptocurrency bull run occur? 8 expert opinions

01 Feb, 2019 | Updated: 02 Feb, 2019
by Richard Allen
News
When will the next cryptocurrency bull run occur? 8 expert opinions

Having been stuck in this cryptocurrency bear market for well over a year now, many crypto experts and industry insiders have been trying their luck at predicting when we’ll see another bull run. Chepicap has gathered 8 theories and opinions on when we’ll be seeing the next crypto bull run, how big this bull run will be and how it could be triggered.

Martin D. Weiss: Bull market in the making
According to Weiss Ratings, Bitcoin shares many resemblances with gold. Martin D. Weiss himself explains that Bitcoin has shown similar patterns to gold, with both making sharp U-turns called “pinpoint tops.” At lows, both assets form long bottoming patterns known as “rounded bottoms.”

Gold hit its bottom in August of last year and has since begun a new 3-year cycle, expecting to reach five year highs.

“Bitcoin is not far behind. The charts tell us it’s currently still in a bear market, but improving fundamentals tell us a new bull market is in the making.”

Read more: Is Bitcoin at $1 million really possible?

Changpeng Zhao: Sooner or later
Chief executive of Binance, Changpeng Zhao has also briefly touched on the prospect of an upcoming bull run. According to him, a bull run will happen “sooner or later.” He explained to CNBC’s Crypto Trader program that “even if i don’t know what will catalyze a Bitcoin bull run, I am certain it will happen… Sooner or later, something will trigger it.”


Similarly, Erik Voorhees, CEO of cryptocurrency exchange ShapeShift shared his thoughts on the next price surge, stating:

“When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.”

Read more: Crypto all-star CZ hints at BTC doing "1000x in the next few years"

Bobby Lee: late 2020
In December of last year, co-founder of BTCChina and YourBTCC Bobby Lee gave a general prediction of Bitcoin’s price movements over the next few years. In his opinion, January 2019 will see Bitcoin bottom out at around $2,500 which will set the stage for a bull run sometime in late 2020. He predicts that Bitcoin will peak at $333,000 in December 2021 before crashing again to $41,000 in January 2023.

Read more: 9 Bitcoin price predictions for 2019 by crypto experts; 9 Bitcoin price predictions for 2020 by crypto experts

Murad Mahmudov and Tone Vays: 2020/2021
Host of ‘On The Record’ Murad Mahmudov believes that Bitcoin will achieve a new all-time high sometime in late 2020. In an interview, Tone Vays, well-known crypto personality and analyst, sort of agreed with this prediction, adding that there is a 40% chance we’ll see a new all-time high in 2020. In Vays’ opinion however, it’s more likely to occur in 2021.

Joey Krug: Scalability will trigger bull run
Pantera Capital’s chief investment officer Joey Krug believes that the market is waiting on solid adoption before kicking off the next bull run. When it does eventually happen, he says the crypto market cap could hit 1,000% more than its current valuation.

In order for adoption levels to get where they need to be, cryptocurrency networks need to be more scalable, likening the current state of cryptocurrency blockchain to the internet before dial-up, stating:

“If you look at the internet, it’s easy to say, ‘Well, you just create an app, get some users, and then you solve the scalability problems.’ But these are all markets, and so if you don’t have scalability, you don’t have market makers, and so you don’t have liquidity.”

Read more: Will Bitcoin recover in 2019?

Anthony Pompliano: No massive bull run in 2019

In September last year, founder and partner at Morgan Creek Digital, Anthony Pompliano tweeted that there won’t be another bull run “until people forget about the last bull run and truly believe crypto is over.”

In January 2019, Pompliano added that he doesn't believe there will be a massive bull run in 2019. "I don't agree with those people who think there is going to be a massive bull run this year."

Thomas Lee: Possible bull run in April
As Chepicap reported, in March last year, head of research at Fundstrat, Tom Lee set out on an experiment to determine how long bull runs last. His findings are quite interesting. Lee’s hypothesis states that crypto bull runs and bear markets are cyclical, being made up of three stages: a bull run, a bear market, and purgatory - a stage where the price remains flat before building up to a bull market again.

Read more: Is Bitcoin dead? 8 reasons why it is NOT

Based on Lee’s sentiment, the average purgatory cycle lasts around 136 days. Counting from Bitcoin’s lowest in 2018 - December 15 where it hit $3,192. 136 days from then would set us up for a bull run sometime in April.

Bear in mind that these predictions are little more than specuation. Predicting the next bull run is almost impossible, but for those who see potential in Bitcoin, the current low prices may present a good opportunity to buy.

Read more: How long do bull runs last?

Lao Ge: Bull run to be 10x bigger
Chinese Bitcoin billionaire Lao Ge doesn't know when this bull run will end either, but one thing he knows for sure is that 'the next bull run will be 10 times bigger than the last peak we have seen'. According to Lao Ge, the bull run that is coming for us will be 'more explosive than ever'.



Watch: Bitcoin as the next global reserve currency?

Read more: Will Bitcoin replace fiat money?; 'Bitcoin will become the next global reserve currency'

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