Bitcoin prices will have a 'golden period' in 2024 but will hit more volatility before then, says Thailand's largest digital asset exchange

• The CEO of Thailand's largest digital asset exchange expects a "golden period" for bitcoin during its next halving in 2024.
• The halving process, which slows the creation of new coins, will also lift the broader crypto market, he said.
• Since its November-high of $69,000, the world's largest cryptocurrency has fallen more than $30,000.

The price of bitcoin is set for a bull run in 2024 when it begins another halving period, though the cryptocurrency market will see more volatility before then, according to Thailand's largest digital asset exchange.

Bitcoin halving is when the reward for mining is cut in half and is part of a system designed to cap the total number of bitcoins at 21 million. Halving occurs every four years, and since it slows the rate at which new bitcoins are created, some people believe it boosts prices.

Based on past trends, the next halving will bring a "golden period" for the world's largest crypto, said Jirayut Srupsrisopa, CEO of Bitkub Capital Group Holdings, according to a Bloomberg report.

He expects 2024 and 2025 to be a lucrative stretch for the broader cryptocurrency market as well. But digital tokens may first go through a brief period of corrections and volatility amid the halving process, said Srupsrisopa, who co-founded Bitkub.

According to Blockchain.com data, 90% of bitcoins have now been mined and are in the open market. Due to halving schedules, however, the final 10% won't fully reach the market until about 2140.

Since November's high of $69,000, bitcoin is down over $30,000 and the broader digital asset market has traded in the red. Other crypto-favorites like solana and avalanche have lost around 40%.

Some expect cryptocurrency volatility to pick up even more as the Fed ends its easy-money policies from the pandemic, though other experts still see bitcoin as a solid inflation hedge.