The growth of the bitcoin rate will last another 6-12 months

The CEO of one of China's largest mining pools BTC.TOP Jiang Zhuo'er believes that the bearishBitcoin market will begin between September 2021 and June 2022. His opinion is based on “the latest data from several studies".

According to the head of BTC.TOP:

• The bear market will not begin until autumn 2021 at the earliest.
• The onset of a bear market will be facilitated by changes in US monetary policy.
• The bull market could last until 2024.

“Representatives of large companies operating inthe cryptocurrency industry, believe that the trend will change in the fall of 2021. In their opinion, this will happen due to the economic recovery due to mass vaccinations. The active growth of the economy will provoke the US authorities to change their monetary policy, which will be the reason for the beginning of the bearish cycle. ", writes journalist Colin Wu.

Wu also noted that some representativescrypto industries are confident in the ability of institutional investors to maintain a bull market for a longer time. We can even talk about the next halving, which will take place in 2024. To do this, they systematically need to buy BTC.

"It's worth noting, however, that there are no publicly traded companies yet to follow the lead of Tesla and Meitu.", writes the journalist.

Let us remind you that Tesla bought $1.5 billion worth of bitcoin. The Chinese company Meitu made a similar decision, but it invested a more modest amount in the cryptocurrency - $90 million.

CEO BTC.TOP believes that the bull market is far from over. He notes the lack of chips for Bitcoin mining as one of the reasons. Because of this, the computing power of the Bitcoin network is not growing as rapidly as the price. Over the course of a year, it rose by 1,139%, but computing power increased by only 30%.

“In the last two weeks, we have seen a correction inthe bitcoin market, as well as the closure of mining farms in Inner Mongolia. As a result, an additional offer of mining equipment appeared on the secondary market. It was worth using this opportunity to increase its own computing power, because the growth of bitcoin will continue next week ", he wrote on Weibo on March 13.

Note that after his message, the price of BTC, on the contrary, went into a correction, reaching $53,000. Bitcoin is now trading $4,000 above the local minimum.

</p>

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features &#8212; futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

</p>

Rate this publication