CryptoQuant CEO Predicts Bitcoin Bull Market Will Extend Into Next Year – Reveals His Price Prediction
Ki Young Ju, the CEO of blockchain analytics platform CryptoQuant, predicts that the current Bitcoin (BTC) bull run will extend until the first few months of 2025.
Ju shares his analysis with his 351,000 followers on the social media platform X. He acknowledges the possibility of Bitcoin dropping to around $47,000 but still believes that the bull market will continue into early next year.
“I anticipate the Bitcoin bull cycle to continue until early next year.
For spot traders, it is advisable to DCA (dollar cost average) and be prepared for a potential drop to $47,000.
If you are not experienced in futures trading, refrain from opening high-leverage positions based on my tweets.
I have been cautioning against excessive risk indirectly for the past month, yet some individuals are still engaging in high-leverage trading based on my long-term cycle tweets.
My tweets are focused on spot trading and the long-term cycle. Any warnings about corrections indicate potential risks. Always conduct your own research (DYOR).”
When asked about a possible price target for the peak of the bull market, Ju mentions a forecast based on a realized cap indicator – a metric that examines the price at which each Bitcoin in a particular cohort was last transacted compared to the current market value.
“The peak of the cycle could reach $112,000.”
Source: Ki Young Ju/X
Ju also addresses concerns about Western governments selling their seized Bitcoin, stating that the impact is likely exaggerated due to the small fraction of coins they hold in the market.
“The selling of government-seized Bitcoin is overstated.
Since 2023, $224 billion has entered the market. The government-held BTC contributes only $9 billion to the realized cap.
This amounts to just 4% of the total realized value since 2023. Do not allow fears of government selling to affect your trades.”
Source: Ki Young Ju/X
As of now, Bitcoin is trading at $57,879.
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Disclaimer: The viewpoints expressed on The Daily Hodl do not constitute investment advice. Investors must conduct their own research before engaging in any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses incurred are your own liability. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it act as an investment advisor. Please be informed that The Daily Hodl participates in affiliate marketing.
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