Bitcoin’s next Bull Run will start in 2023, according to Bitwise CEO

Hunter Horsley – CEO of technology solutions provider Bitwise – believes bear markets are a great time for investors to increase their exposure to bitcoin.

He estimated that the next boom will begin next year, and outlined that the firm’s clients have already increased their interest in the asset.

Fortunes are made in bear markets

In an interview for Bloomberg, Horsley outlined the historical pattern of bitcoin’s price movement. During its existence, the primary cryptocurrency has periodically gone through four-year cycles, while bull runs with increasing momentum have always followed bear markets. Based on this data, he hypothesized that the asset will begin another price rally in 2023:

“So in 2014 the market was down almost 60%. 2018 – the market down north of 70%. And this year, obviously, 2022, the market is down about 60%. The expectation, if the market continues its historical trend, is that we’ll start a new cycle next year.”

Despite the current market crash, the executive said a growing number of Bitwise customers had renewed interest in the crypto industry. In his view, those who jump on the bandwagon now (when prices are much lower compared to last year) have a better chance of generating significant profits in the future:

“So the story of this year is definitely a bear market. Still, we’ve seen increased interest from our client base. And I think the backdrop for a lot of crypto investors is that historically there have been four-year cycles, and while there are opportunities to make money in a lot of crypto market moments, bear markets are the moments when fortunes can be made.”

Investing in a time of crisis is a strategy that many financial experts have adopted. The narrative comes from the fact that prices crash due to panic in the room, but when the situation calms down, they surpass previous valuations. For example, when the COVID-19 pandemic was at its peak, bitcoin fell below $5,000. However, it recovered its losses a year later, rising to an all-time high of nearly $70,000.

Kiyosaki and Saylor urge investors to focus on Bitcoin

Robert Kiyosaki (the author of “Rich Dad, Poor Dad”) also believes that people should allocate some of their wealth to bitcoin during a severe monetary crisis. Not long ago, he argued that the galloping inflation, the waning power of the US dollar and the coming recession, among other reasons, are the leading factors why investors should increase their BTC exposure.

Not surprisingly, MicroStrategy’s executive chairman – Michael Saylor – is also part of that club. In June of this year, he described bitcoin’s crash to $20,000 as a “huge buying opportunity.”

In another way, he the council the citizens of economically distressed countries (such as Turks) to turn to BTC to preserve their wealth during the turmoil.