Bitcoin
CryptoQuant CEO Says Bitcoin Bull Run Will Continue Until Next Year – Here’s His Price Target
Ki Young Ju, CEO of blockchain analytics platform CryptoQuant, says he expects current Bitcoin (BTC) the market rally should last until the first months of 2025.
You account his 351,000 followers on social media platform X that while he sees potential for further decline in Bitcoin, perhaps near the $47,000 level, he still predicts the bull market will continue until early next year.
“I believe that Bitcoin’s bull cycle will continue until the beginning of next year.
For those trading spot, it would be wise to use DCA (dollar-cost averaging), keeping in mind that it could drop to $47,000 from here.
If you are not an experienced futures trader, do not open high leverage long or short positions based on my tweets.
Last month I indirectly warned about excessive risk, but it seems some people are still opening high leverage long positions based on my tweets about the long term cycle.
My tweets are from a spot trading and long-term cycle perspective. Warnings about corrections are risk mentions. Always DYOR (do your own research).”
When asked about a possible price target for the top of the bull market, Ju reveals a prediction based on a realized capitalization indicator — an on-chain metric that looks at the price at which each Bitcoin in a given pool last moved, as opposed to the current market value.
“$112,000 at the peak of the cycle.”
Source: Ki Young Ju/X
Ju also says that the current uncertainty about Western governments selling their seized Bitcoins is likely overblown due to the relatively small market share of the coins they hold.
“Government Bitcoin sales are overrated.
$224 billion has been invested in this market since 2023. BTC seized by the government contributes about $9 billion to the realized limit.
That’s just 4% of the total cumulative value realized since 2023. Don’t let the government selling FUD (fear, uncertainty, and doubt) ruin your trading.”
Source: Ki Young Ju/X
At the time of writing, Bitcoin was trading at $57,879.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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