KotabumiNews - The last crypto asset bull run occurred in late 2021 to early 2022, after which the crypto has experienced a series of negative events and entered a bear market phase.
When will the bull run phase occur? To get this answer, Coinvestasi conducted exclusive interviews with crypto industry experts in Indonesia, namely Gabriel Rey, CEO of TRIV, Teguh Harmanda, Co Founder of Tokocrypto, and Timothius Martin, Chief Marketing Officer of PINTU.
According to Gabriel Rey, this bear market phase generally lasts more than a year before recovering, he reminded that at the end of 2023 the halving moment is approaching, where the halving is expected to occur in the first quarter of 2024.
"I think in the fourth quarter of 2023 we will see prices start to rise again, I think for now holders can choose altcoins that can be staked, so when bears can still generate rewards," he said.
Gabriel also underlined that if the Fed's decision, primarily on raising interest rates, would still affect the price of crypto assets, when the global economy has not shown significant improvement, the bearish phase will still occur.
Meanwhile, according to Teguh Harmanda, a bullish situation could re-create when geopolitical pressure subsides.
As is known now, the world is indeed not in a conducive atmosphere in the midst of the adjustment period for the COVID-19 pandemic, the war between Russia and Ukraine, and the tension between China and Taiwan.
According to Teguh Harmanda, it may take up to 2-3 years for the bull market to return, to be precise in 2025, one year after the 2024 halving.
"If we look at the history of the crypto winter bear market in 2018, it took at least two years for the bear market to finish and prices start to rise again or reach ATH," he said.
In this bear market condition, Teguh also sees that crypto asset movements tend to be difficult to predict, and traders and investors need to look at global economic stability. He reminded that in these conditions crypto investors, especially domestic investors, must be calm and not panic.
"Crypto conditions like this are not new, there are historical traces, and they can return to their highest prices," explained Teguh Harmanda.
He also advised investors who still want to be in crypto to continue doing dollar cost averaging, but still pay attention to the fundamental assets chosen to invest.
Factors That Will Drive Bull Market
Different from Gabriel Rey and Teguh Harmanda, PINTU CMO Timothius Martin actually highlighted various catalysts that might make Bitcoin and other crypto assets enter the bull market.
According to him, the wider adoption of Bitcoin could be a driving force for the price of these assets to rise, especially now that many companies have shifted their funds to Bitcoin. That way, the perception of Bitcoin as a hedge will be created and trigger good sentiment.
"With increasing positive sentiment towards Bitcoin, the demand for other crypto assets will also increase," he explained.
Timo also believes that global and local regulations regarding crypto asset investment that provide clarity to investors and clear uses of crypto assets and blockchain can be a support for the creation of a bull market.
"In general, we hope that various positive sentiments can help increase crypto asset investment transactions, besides that from the economic condition we hope that it will be more stable," concluded Timo.
