RATE Group | Next Bitcoin Halving May Not Lead to Bull Market, Says Bitmain CEO
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Next Bitcoin Halving May Not Lead to Bull Market, Says Bitmain CEO

12 Oct Next Bitcoin Halving May Not Lead to Bull Market, Says Bitmain CEO

Posted at 13:06h in Bitcoin News by

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Jihan Wu, co-founder and CEO of Chinese mining giant Bitmain, believes the next Bitcoin (BTC) block reward halving may not lead to a bull market, but the coin’s price will grow in the long term.

According to Chinese industry news outlet 8BTC’s report published on Oct. 11, Wu made his remarks during the World Digital Mining Summit held in Frankfurt. 

Bulls may be late this time

Per the report, Wu explained that the crypto market moves in cycles and this time the next bullish phase may not start after the halving. He is also confident that in a long-term perspective crypto enthusiasts should invest in mining hardware, adding:

“There are many uncertainties, but now is a good time to invest in crypto mining. If I were a miner, I would not stop mining but continuing to invest in mining equipment. We are currently in a short-term correction of price. Having a long-term perspective is significant. If bitcoin’s price remains unchanged after halving, the efficiency of existing…

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