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The crypto market has entered one of its bullish quarters of the year. However, nearly 278 days have passed since Bitcoin reached its all-time high of around $126,000. Meanwhile, BitGo CEO Mike Belshe says, “The next crypto bull run will be slower and far less volatile than previous ones.”
Here’s when the actual Bull run will begin.
What’s Delaying The Next Bull Run?
According to Mike Belshe, money is no longer flowing only into digital assets. Instead of chasing quick profits, more investors are putting money into real blockchain use cases that have long-term value.
One of the biggest examples is the stablecoin market, which has grown to a record $322 billion. Stablecoins are also processing nearly $76 billion in transactions every weekend, or around $38 billion a day.
This indicates that they are becoming part of everyday payments rather than just crypto trading.
Belshe says institutions are now focusing on building long-term financial infrastructure as
“ Citi projects that the number will hit $4T by 2030. Tokenization is following the same arc.”
Bull Run Will Be Slower
Despite Bitcoin trading below its all-time high, Belshe said BitGo’s custody business is seeing record demand from registered investment advisers (RIAs) and institutional investors.
This shows that Bitcoin is slowly moving beyond speculation and becoming a long-term reserve asset, as institutional investors have quietly begun to accumulate it.
“Slower doesn’t mean weaker. It means bitcoin is graduating from a speculative vehicle to a reserve asset.”
When Will The Next Bull Market Begin?
While Belshe expects a slower market cycle, crypto investor Mark Chadwick noted when the next bull run will begin.
He shared an old December 2023 post from an anonymous 4chan user who predicted Bitcoin would reach its next all-time high on October 6, 2025. And that prediction played out as Bitcoin eventually climbed to around $126,000.
That prediction was based on Bitcoin’s historical cycle timing:
- 2015 ATL → 2017 $ATH: 1,064 days
- 2017 $ATH → 2018 ATL: 364 days
- 2018 ATL → 2021 $ATH: 1,064 days
- 2021 $ATH → 2022 ATL: 364 days
Now, after accurately playing out the last Ath has prediction, Chadwick now believes the same pattern could repeat
- 2022 ATL → 2025 $ATH: 1,064 days
- 2025 $ATH → 2026 ATL: 364 days as (only 278 days have passed)
Based on this cycle, he expects the bear market to continue through the rest of 2026, with Bitcoin finding a major bottom later that year.
He believes this would be followed by an accumulation phase before the next large crypto bull market begins in 2027.